| Statement [Line Items] | Period [Axis] |
|---|
2015-12-27 - 2016-12-31 |
|---|
Significant Components of Provisions for Income Taxes |
Significant components of the provision for income taxes are as
follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
2016 |
|
|
2015 |
|
|
2014 |
|
| |
|
(in thousands) |
|
|
Current:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal
|
|
$ |
35,390 |
|
|
$ |
42,391 |
|
|
$ |
30,595 |
|
|
State
|
|
|
6,108 |
|
|
|
7,403 |
|
|
|
8,262 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current
|
|
|
41,498 |
|
|
|
49,794 |
|
|
|
38,857 |
|
|
Deferred:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal
|
|
|
7,666 |
|
|
|
6,279 |
|
|
|
15,407 |
|
|
State
|
|
|
608 |
|
|
|
523 |
|
|
|
587 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total deferred
|
|
|
8,274 |
|
|
|
6,802 |
|
|
|
15,994 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total provision for income taxes
|
|
$ |
49,772 |
|
|
$ |
56,596 |
|
|
$ |
54,851 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliations to Statutory Rates |
The Company’s reconciliations to statutory rates are as
follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Statutory rate
|
|
|
35.0 |
% |
|
|
35.0 |
% |
|
|
35.0 |
% |
|
State income taxes, net of federal benefit
|
|
|
3.6 |
|
|
|
3.4 |
|
|
|
4.0 |
|
|
Deduction relating to U.S. production activities
|
|
|
(2.6 |
) |
|
|
(2.7 |
) |
|
|
(2.1 |
) |
|
Change in valuation allowance
|
|
|
(0.3 |
) |
|
|
— |
|
|
|
— |
|
|
Other
|
|
|
0.6 |
|
|
|
0.8 |
|
|
|
0.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
36.3 |
% |
|
|
36.5 |
% |
|
|
37.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Significant Components of Company's Deferred Tax Assets and Liabilities |
Significant components of the Company’s deferred tax assets
and liabilities are as follows at:
|
|
|
|
|
|
|
|
|
| |
|
December 31, |
|
|
December 26, |
|
| |
|
2016 |
|
|
2015 |
|
| |
|
(in thousands) |
|
|
Deferred tax assets:
|
|
|
|
|
|
|
|
|
|
Accrued expenses
|
|
$ |
6,488 |
|
|
$ |
7,435 |
|
|
Stock-based compensation expense
|
|
|
5,929 |
|
|
|
9,493 |
|
|
Inventory
|
|
|
1,117 |
|
|
|
2,398 |
|
|
Other
|
|
|
4,097 |
|
|
|
4,154 |
|
|
|
|
|
|
|
|
|
|
|
Total deferred tax assets
|
|
|
17,631 |
|
|
|
23,480 |
|
|
Valuation allowance
|
|
|
(669 |
) |
|
|
(1,036 |
) |
|
|
|
|
|
|
|
|
|
|
Total deferred tax assets net of valuation allowance
|
|
|
16,962 |
|
|
|
22,444 |
|
|
Deferred tax liabilities:
|
|
|
|
|
|
|
|
|
|
Property, plant and equipment
|
|
|
(72,140 |
) |
|
|
(69,226 |
) |
|
Prepaid expenses
|
|
|
(1,204 |
) |
|
|
(1,475 |
) |
|
Goodwill
|
|
|
(879 |
) |
|
|
(761 |
) |
|
|
|
|
|
|
|
|
|
|
Total deferred tax liabilities
|
|
|
(74,223 |
) |
|
|
(71,462 |
) |
|
|
|
|
|
|
|
|
|
|
Net deferred tax liabilities
|
|
$ |
(57,261 |
) |
|
$ |
(49,018 |
) |
|
|
|
|
|
|
|
|
|
|
Reconciliation of Unrecognized Tax Benefits |
A reconciliation of the beginning and ending amount of unrecognized
tax benefits is as follows:
|
|
|
|
|
|
|
|
|
| |
|
2016 |
|
|
2015 |
|
| |
|
(in thousands) |
|
|
Balance at beginning of year
|
|
$ |
486 |
|
|
$ |
368 |
|
|
Increases related to current year tax positions
|
|
|
80 |
|
|
|
44 |
|
|
Increases related to prior year tax positions
|
|
|
76 |
|
|
|
117 |
|
|
Decreases related to settlements
|
|
|
(50 |
) |
|
|
— |
|
|
Decreases related to lapse of statute of limitations
|
|
|
(3 |
) |
|
|
(43 |
) |
|
|
|
|
|
|
|
|
|
|
Balance at end of year
|
|
$ |
589 |
|
|
$ |
486 |
|
|
|
|
|
|
|
|
|
|
|