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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Provision for income taxes | The provision for income taxes consists of the following (in thousands):
| 2016 |  | 2015 |  | 2014
Current tax expense: |  |  |  |  |
Federal | $ | 221,207 |  |  | $ | 225,253 |  |  | $ | 211,383 |
State | 20,858 |  |  | 17,419 |  |  | 25,133 |
Total current | 242,065 |  |  | 242,672 |  |  | 236,516 |
Deferred tax expense (benefit): |  |  |  |  |  |
Federal | 12,256 |  |  | (7,017 | ) |  | (14,493 | )
State | (3,171 | ) |  | 1,567 |  |  | (5,321 | )
Total deferred | 9,085 |  |  | (5,450 | ) |  | (19,814 | )
Total provision | $ | 251,150 |  |  | $ | 237,222 |  |  | $ | 216,702 |
Deferred tax assets and liabilities | Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. In the first quarter of fiscal 2016, the Company adopted accounting guidance which affected the presentation of deferred tax liabilities and assets. This guidance was applied retrospectively for all periods presented and therefore the presentation of previously reported deferred tax assets has been changed to conform to the presentation used in the current period. Significant components of the deferred tax assets and liabilities are as follows (in thousands):
| 2016 |  | 2015
Tax assets: |  |  |
Inventory valuation | $ | 19,713 |  |  | $ | 18,147 |
Accrued employee benefit costs | 14,120 |  |  | 16,485 |
Accrued sales tax audit reserve | 4,317 |  |  | 4,821 |
Rent expenses in excess of cash payments required | 35,391 |  |  | 30,788 |
Deferred compensation | 23,978 |  |  | 20,125 |
Workers’ compensation insurance | 13,565 |  |  | 12,116 |
General liability insurance | 5,332 |  |  | 4,853 |
Lease exit obligations | 2,617 |  |  | 2,378 |
Income tax credits | 4,265 |  |  | 2,316 |
Other | 7,311 |  |  | 8,831 |
| 130,609 |  |  | 120,860 |
Tax liabilities: |  |  |  |  |
Inventory basis difference | (4,600 | ) |  | (3,497 | )
Prepaid expenses | (2,912 | ) |  | (2,108 | )
Depreciation | (73,336 | ) |  | (55,805 | )
Amortization | (2,419 | ) |  | (2,435 | )
Other | (2,124 | ) |  | (1,821 | )
| (85,391 | ) |  | (65,666 | )
Net deferred tax asset | $ | 45,218 |  |  | $ | 55,194 |
Reconciliation of the provision for income taxes to the amounts computed at the federal statutory rate | A reconciliation of the provision for income taxes to the amounts computed at the federal statutory rate is as follows (in thousands):
| 2016 |  | 2015 |  | 2014
Tax provision at statutory rate | $ | 240,894 |  |  | $ | 226,666 |  |  | $ | 205,656 |
Tax effect of: |  |  |  |  |
State income taxes, net of federal tax benefits | 11,496 |  |  | 12,341 |  |  | 12,878 |
Permanent differences | (1,240 | ) |  | (1,785 | ) |  | (1,832 | )
| $ | 251,150 |  |  | $ | 237,222 |  |  | $ | 216,702 |
Reconciliation of gross unrecognized tax benefits | A reconciliation of the beginning and ending gross amount of unrecognized tax benefits (exclusive of interest and penalties) is as follows (in thousands):
| 2016 |  | 2015 |  | 2014
Balance at beginning of year | $ | 2,922 |  |  | $ | 3,500 |  |  | $ | 2,482 |
Additions based on tax positions related to the current year | 460 |  |  | 869 |  |  | 1,104 |
Additions for tax positions of prior years | 139 |  |  | — |  |  | 280 |
Reductions for tax positions of prior years | (1,829 | ) |  | (1,447 | ) |  | (366 | )
Reductions due to audit results | (113 | ) |  | — |  |  | — |
Balance at end of year | $ | 1,579 |  |  | $ | 2,922 |  |  | $ | 3,500 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=65882285&loc=SL6600010-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32718-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32840-109319 + Details
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