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Income Taxes (Tables)

12 Months Ended

Dec. 28, 2018

Income Tax Disclosure [Abstract]

Total Income Tax Expense

Total income tax expense for fiscal years 2018, 2017 and 2016 consisted of the following:

		Fiscal Years
(In thousands)		2018				2017				2016
Current
Federal		$	16,487			$	22,821			$	18,877
Foreign			1,624				1,514				1,085
State			6,667				5,083				4,282
			24,778				29,418				24,244
Deferred
Federal			(2,604	)			12,570				(2,047	)
State			(1,111	)			(784	)			(555	)
			(3,715	)			11,786				(2,602	)
Total		$	21,063			$	41,204			$	21,642

Reconciliation of Effective Income Tax Rate

The Company’s effective tax rate differs from the statutory federal tax rate of 21% for 2018 and 35% for 2017 and 2016 as shown in the following schedule:

		Fiscal Years
(In thousands)		2018				2017				2016
Tax at federal statutory rate		$	19,597			$	28,878			$	24,193
Re-measurement of deferred tax assets to lower enacted domestic tax rate			-				15,137				-
Mandatory repatriation of foreign earnings			-				1,370				-
State taxes, net of federal benefit			4,391				2,806				2,423
Non-deductible expenses			335				417				274
Non-deductible stock-based compensation			20				18				11
Excess tax benefit from equity incentive plans			(3,310	)			(5,831	)			(4,321	)
Difference between statutory rate and foreign effective tax rate			(217	)			(1,339	)			(889	)
Other			247				(252	)			(49	)
Tax expense		$	21,063			$	41,204			$	21,642
Effective tax rate			22.6	%			49.9	%			31.3	%

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 December 28, 2018 and December 29, 2017 are presented in the following schedule:

		Fiscal Years
(In thousands)		2018				2017
Deferred tax assets:
Accrued liabilities and allowances		$	13,964			$	13,265
Deferred compensation plan			22,944				22,297
Property, equipment and leasehold improvements			192				288
Unrealized loss on deferred compensation plan assets			320				-
Other			34				98
Total deferred tax assets			37,454				35,948
Deferred tax liabilities:
State taxes			(1,184	)			(1,232	)
Deductible goodwill			(2,086	)			(2,078	)
Property, equipment and leasehold improvements			-				-
Unrealized gain of deferred compensation plan assets			-				(2,119	)
Other			(94	)			(82	)
Total deferred tax liabilities			(3,364	)			(5,511	)
Net deferred tax assets		$	34,090			$	30,437

Unrecognized Tax Benefits

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

Balance at December 30, 2016		$	1,956,000
Additions based on tax positions related to the current year			597,000
Additions for tax positions of prior years			11,000
Reductions due to lapse of statute of limitations			(338,000	)
Reductions for tax positions of prior years			(437,000	)
Settlements			-
Balance at December 29, 2017		$	1,789,000
Additions based on tax positions related to the current year			599,000
Additions for tax positions of prior years			-
Reductions due to lapse of statute of limitations			(257,000	)
Reductions for tax positions of prior years			(383,000	)
Settlements			-
Balance at December 28, 2018		$	1,748,000

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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 reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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