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Income Taxes (Tables)

12 Months Ended

Jan. 03, 2014

Income Tax Disclosure [Abstract]

Total Income Tax Expense

Total income tax expense for the fiscal years ended January 3, 2014, December 28, 2012 and December 30, 2011 consisted of the following:

		Fiscal Years
(In thousands)		2013			2012			2011
Current
Federal		$	22,468		$	23,562		$	20,544
Foreign			1,411			852			656
State			4,824			4,304			4,587
			28,703			28,718			25,787
Deferred
Federal			(2,703)			(3,378)			(3,013)
State			(695)			(816)			(650)
			(3,398)			(4,194)			(3,663)
Total		$	25,305		$	24,524		$	22,124

Reconciliation of Effective Income Tax Rate

The Company’s effective tax rate differs from the statutory federal tax rate of 35% as shown in the following schedule:

		Fiscal Years
(In thousands)		2013				2012				2011
Tax at federal statutory rate		$	22,381			$	21,612			$	19,187
State taxes, net of federal benefit			2,819				2,409				2,568
Tax exempt interest income			(36)				(104)				(74)
Non-deductible expenses			226				296				240
Non-deductible stock-based compensation			(79)				(40)				12
Other			(6)				351				191
Tax expense		$	25,305			$	24,524			$	22,124
Effective tax rate			39.6	%			39.7	%			40.4	%

Deferred Tax Assets and Deferred Tax Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at January 3, 2014 and December 28, 2012 are presented in the following schedule:

		Fiscal Years
(In thousands)		2013			2012
Deferred tax assets:
Accrued liabilities and allowances		$	15,539		$	14,503
Deferred compensation			22,373			17,252
Total deferred tax assets			37,912			31,755
Deferred tax liabilities:
State taxes			(1,519)			(1,099)
Deductible goodwill			(2,925)			(2,829)
Property, equipment and leasehold improvements			(622)			(500)
Unrealized gain of deferred compensation plan assets			(3,215)			(1,095)
Other			(394)			(216)
Total deferred tax liabilities			(8,675)			(5,739)
Net deferred tax assets		$	29,237		$	26,016

Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

Balance at December 30, 2011		$	388,000
Additions based on tax positions related to the current year			275,000
Additions for tax positions of prior years			317,000
Reductions due to lapse of statute of limitations			(72,000)
Reductions due to change in accounting method			-
Settlements			-
Balance at December 28, 2012		$	908,000
Additions based on tax positions related to the current year			316,000
Additions for tax positions of prior years			-
Reductions due to lapse of statute of limitations			(77,000)
Reductions due to change in accounting method			-
Settlements			-
Balance at January 3, 2014		$	1,147,000

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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.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the change in unrecognized tax benefits.

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