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Income Taxes: (Tables)

12 Months Ended

Jan. 01, 2013

Income Taxes:

Schedule of provision for income taxes

The provision for income taxes consisted of the following (in thousands):

		Fiscal Year
		2012			2011			2010
Income before income taxes		$	133,974		$	129,143		$	111,089
Income tax provision:
Current:
Federal		$	39,792		$	17,093		$	26,580
State		8,517			8,423			6,883
Total current		48,309			25,516			33,463
Deferred:
Federal		(11,055		)	9,284			(4,024		)
State		(1,703		)	(1,377		)	(63		)
Total deferred		(12,758		)	7,907			(4,087		)
Total provision		$	35,551		$	33,423		$	29,376

Schedule of reconciliation between U.S. federal statutory rate and effective tax rate

		Fiscal Year
		2012		2011		2010
Tax at U.S. federal statutory rate		35.0	%	35.0	%	35.0	%
State and district income taxes, net of federal income tax benefit		3.3		3.6		4.1
FICA tip credit		(7.7	)	(6.9	)	(7.6	)
HIRE Act retention tax credit		—		(1.4	)	—
Other credits and incentives		(0.6	)	(0.8	)	(0.6	)
Change in uncertain tax positions		—		(1.3	)	(0.7	)
Manufacturing deduction		(2.8	)	(2.7	)	(3.1	)
Deferred compensation		(0.7	)	0.2		(0.6	)
Other		—		0.2		(0.1	)
Effective tax rate		26.5	%	25.9	%	26.4	%

Schedule of deferred tax assets and liabilities

Following are the temporary differences that created our deferred tax assets and liabilities (in thousands):

		January 1, 2013			January 3, 2012
Deferred tax assets:
Employee benefits		$	20,135		$	15,927
Insurance reserves		15,284			13,099
Accrued rent		23,945			21,257
Stock-based compensation		18,908			20,800
Deferred income		7,060			5,690
Tax credit carryforwards		1,751			1,918
Other		853			1,416
Subtotal		87,936			80,107
Less: Valuation allowance		(258		)	—
Total		$	87,678		$	80,107
Deferred tax liabilities:
Property and equipment		$	(146,763	)	$	(153,299	)
Inventory		(9,160		)	(8,847		)
Prepaid expenses		(8,350		)	(7,314		)
Total		$	(164,273	)	$	(169,460	)
Net deferred tax liability		$	(76,595	)	$	(89,353	)
Reported in consolidated balance sheets as:
Deferred income taxes — current asset		$	15,257		$	14,574
Deferred income taxes — noncurrent liability		(91,852		)	(103,927		)
Total		$	(76,595	)	$	(89,353	)

Schedule of reconciliation of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

		Fiscal Year
		2012			2011			2010
Balance at beginning of year		$	590		$	2,135		$	6,460
Additions based on tax positions taken during a prior period		—			—			—
Reductions based on tax positions taken during a prior period		—			—			(3,085		)
Additions based on tax positions taken during the current period		230			199			163
Reductions related to settlements with taxing authorities and lapses of statutes of limitations		(125		)	(1,744		)	(1,403		)
Balance at end of year		$	695		$	590		$	2,135

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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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Tabular disclosure of 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 (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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