| Statement [Line Items] | Period [Axis] |
|---|
2015-05-03 - 2016-04-30 |
|---|
Income (Loss) Before Income Taxes |
Income (loss)
before income taxes for fiscal 2016, fiscal 2015 and fiscal 2014
are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Fiscal 2016 |
|
|
Fiscal 2015 |
|
|
Fiscal 2014 |
|
|
Domestic
operations
|
|
$ |
6,827 |
|
|
|
68,535 |
|
|
|
(66,862 |
) |
|
Foreign
operations
|
|
|
(941 |
) |
|
|
3,981 |
|
|
|
733 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total income (loss) before
taxes
|
|
$ |
5,886 |
|
|
|
72,516 |
|
|
|
(66,129 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income Tax Provisions (Benefits) |
Income tax
provisions (benefits) for fiscal 2016, fiscal 2015 and fiscal 2014
are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Fiscal 2016 |
|
|
Fiscal 2015 |
|
|
Fiscal 2014 |
|
|
Current:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal
|
|
$ |
(47,053 |
) |
|
|
39,514 |
|
|
|
(43,024 |
) |
|
State
|
|
|
3,908 |
|
|
|
2,674 |
|
|
|
(2,219 |
) |
|
Foreign
|
|
|
(273 |
) |
|
|
1,314 |
|
|
|
156 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current
|
|
|
(43,418 |
) |
|
|
43,502 |
|
|
|
(45,087 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal
|
|
|
21,570 |
|
|
|
6,099 |
|
|
|
42,695 |
|
|
State
|
|
|
13,018 |
|
|
|
(10,001 |
) |
|
|
15,403 |
|
|
Foreign
|
|
|
16 |
|
|
|
44 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total deferred
|
|
|
34,604 |
|
|
|
(3,858 |
) |
|
|
58,098 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
(8,814 |
) |
|
|
39,644 |
|
|
|
13,011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation Between Effective Income Tax Rate and Federal Statutory Income Tax Rate |
Reconciliation
between the effective income tax rate and the federal statutory
income tax rate is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Fiscal 2016 |
|
|
Fiscal 2015 |
|
|
Fiscal 2014 |
|
|
Federal statutory income
tax rate
|
|
|
35.0 |
% |
|
|
35.0 |
% |
|
|
35.0 |
% |
|
State income taxes, net of
federal income tax benefit
|
|
|
8.3 |
|
|
|
10.8 |
|
|
|
(6.3 |
) |
|
Change to unrecognized tax
benefits
|
|
|
(111.3 |
) |
|
|
0.2 |
|
|
|
(2.9 |
) |
|
Excess executive
compensation
|
|
|
8.0 |
|
|
|
3.7 |
|
|
|
(1.0 |
) |
|
Meals and entertainment
disallowance
|
|
|
5.1 |
|
|
|
1.1 |
|
|
|
(0.8 |
) |
|
Tax credits
|
|
|
(76.3 |
) |
|
|
(3.9 |
) |
|
|
4.3 |
|
|
Joint venture net loss
allocation
|
|
|
— |
|
|
|
33.1 |
|
|
|
(30.3 |
) |
|
Change in valuation
allowance
|
|
|
108.6 |
|
|
|
(19.8 |
) |
|
|
(17.6 |
) |
|
Changes in deferred taxes
and payables
|
|
|
(134.8 |
) |
|
|
(5.4 |
) |
|
|
— |
|
|
State law
changes
|
|
|
4.7 |
|
|
|
— |
|
|
|
— |
|
|
Other, net
|
|
|
3.0 |
|
|
|
(0.1 |
) |
|
|
(0.1 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective income tax
rate
|
|
|
(149.7 |
)% |
|
|
54.7 |
% |
|
|
(19.7 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Components of Deferred Tax Assets and Liabilities |
At
April 30, 2016 and May 2, 2015, the significant
components of the Company’s deferred taxes consisted of the
following:
|
|
|
|
|
|
|
|
|
| |
|
April 30, 2016 |
|
|
May 2, 2015 |
|
|
Deferred tax
assets:
|
|
|
|
|
|
|
|
|
|
Accrued
liabilities
|
|
$ |
124,475 |
|
|
$ |
119,458 |
|
|
Inventory
|
|
|
3,844 |
|
|
|
15,616 |
|
|
Insurance
liability
|
|
|
8,392 |
|
|
|
8,212 |
|
|
Loss and credit
carryovers
|
|
|
31,100 |
|
|
|
24,411 |
|
|
Lease
transactions
|
|
|
13,813 |
|
|
|
23,685 |
|
|
Pension
|
|
|
670 |
|
|
|
6,175 |
|
|
Stock-based
compensation
|
|
|
1,918 |
|
|
|
3,373 |
|
|
Other
|
|
|
503 |
|
|
|
1,132 |
|
|
|
|
|
|
|
|
|
|
|
Gross deferred tax
assets
|
|
|
184,715 |
|
|
|
202,062 |
|
|
|
|
|
|
|
|
|
|
|
Valuation
allowance
|
|
|
(7,903 |
) |
|
|
(1,215 |
) |
|
|
|
|
|
|
|
|
|
|
Net deferred tax
assets
|
|
|
176,812 |
|
|
|
200,847 |
|
|
|
|
|
|
|
|
|
|
|
Deferred tax
liabilities:
|
|
|
|
|
|
|
|
|
|
Prepaid expenses
|
|
|
(5,678 |
) |
|
|
(6,778 |
) |
|
Goodwill and intangible
asset amortization
|
|
|
(133,267 |
) |
|
|
(131,338 |
) |
|
Investment in
Barnes & Noble.com
|
|
|
(78,650 |
) |
|
|
(78,526 |
) |
|
Depreciation
|
|
|
(13,234 |
) |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
Gross deferred tax
liabilities
|
|
|
(230,829 |
) |
|
|
(216,642 |
) |
|
|
|
|
|
|
|
|
|
|
Net deferred tax
liabilities
|
|
$ |
(54,017 |
) |
|
$ |
(15,795 |
) |
|
|
|
|
|
|
|
|
|
|
Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits |
A
reconciliation of the beginning and ending amount of unrecognized
tax benefits for fiscal 2016, fiscal 2015 and fiscal 2014 is as
follows:
|
|
|
|
|
|
Balance at April 27,
2013
|
|
$ |
21,326 |
|
|
Additions for tax positions
of the current period
|
|
|
2,693 |
|
|
Additions for tax positions
of prior periods
|
|
|
2,206 |
|
|
Reductions due to
settlements
|
|
|
— |
|
|
Reductions for tax
positions of prior periods
|
|
|
(7,070 |
) |
|
|
|
|
|
|
Balance at May 3,
2014
|
|
$ |
19,155 |
|
|
Additions for tax positions
of the current period
|
|
|
731 |
|
|
Additions for tax positions
of prior periods
|
|
|
— |
|
|
Reductions due to
settlements
|
|
|
— |
|
|
Reductions for tax
positions of prior periods
|
|
|
(1,504 |
) |
|
|
|
|
|
|
Balance at May 2,
2015
|
|
$ |
18,382 |
|
|
Additions for tax positions
of the current period
|
|
|
238 |
|
|
Additions for tax positions
of prior periods
|
|
|
7,433 |
|
|
Reductions due to
settlements
|
|
|
(5,980 |
) |
|
Reductions for tax
positions of prior periods
|
|
|
(5,501 |
) |
|
|
|
|
|
|
Balance at April 30,
2016
|
|
$ |
14,572 |
|
|
|
|
|
|
|