WeightWatchers 2015 Annual Report Download - page 102

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WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
The fair value of RSUs is determined using the closing market price of the Company’s common stock on the date
of grant. A summary of RSU activity under the Stock Plans for the year ended January 2, 2016 is presented
below:
Shares
Weighted-Average
Grant-Date
Fair Value
Outstanding at January 3, 2015 .................................. 838 $27.71
Granted ................................................. 780 $ 5.55
Vested .................................................. (35) $51.18
Forfeited ................................................ (217) $26.25
Outstanding at January 2, 2016 .................................. 1,366 $27.71
The weighted-average grant-date fair value of RSUs granted was $5.55, $24.37, and $38.40 for the years
ended January 2, 2016, January 3, 2015 and December 28, 2013, respectively. The total fair value of RSUs
vested during the years ended January 2, 2016, January 3, 2015 and December 28, 2013 was $1,804, $3,042, and
$1,705, respectively.
11. Income Taxes
The following tables summarize the Company’s consolidated provision for US federal, state and foreign
taxes on income:
January 2,
2016
January 3,
2015
December 28,
2013
Current:
US federal ................................................ $(6,862) $12,904 $ 60,030
State ..................................................... 1,859 (131) 9,583
Foreign ................................................... 15,740 24,059 25,647
$10,737 $36,832 $ 95,260
Deferred:
US federal ................................................ $10,756 $25,162 $ 30,513
State ..................................................... 1,890 2,876 3,487
Foreign ................................................... (548) 1,061 358
$12,098 $29,099 $ 34,358
Total tax provision .......................................... $22,835 $65,931 $129,618
The components of the Company’s consolidated income before income taxes consist of the following:
January 2,
2016
January 3,
2015
December 28,
2013
Domestic ..................................................... $ 6,299 $ 88,024 $248,637
Foreign ...................................................... 49,315 95,640 83,723
$55,614 $183,664 $332,360
F-27