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Taxes (Tables) | 12 Months Ended
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Mar. 31, 2012
Income (Loss) Before Provision for Income Taxes | Income (loss) before provision for income taxes consisted of the following (in thousands):
|  | Fiscal Years Ended |
|  | March 31, 2012 |  |  | April 2, 2011 |  |  | April 3, 2010 |
United States |  | $ | 227,514 |  |  | $ | 134,197 |  |  | $ | 48,300 |
Non-U.S. |  |  | 21,302 |  |  |  | (978 | ) |  |  | 6,647 |
Total income before provision for income taxes |  | $ | 248,816 |  |  | $ | 133,219 |  |  | $ | 54,947 |
Provision for Income Taxes | The provision for income taxes was as follows (in thousands):
|  | Fiscal Years Ended |
|  | March 31, 2012 |  |  | April 2, 2011 |  |  | April 3, 2010 |
Current |  |  |  |  |  |  |  |  |  |  |  |
U.S. Federal |  | $ | 79,690 |  |  | $ | 30,494 |  |  | $ | 552 |
U.S. State |  |  | 20,916 |  |  |  | 11,527 |  |  |  | 1,976 |
Non-U.S. |  |  | 8,575 |  |  |  | 6,249 |  |  |  | 2,146 |
Total current |  |  | 109,181 |  |  |  | 48,270 |  |  |  | 4,674 |
Deferred |  |  |  |  |  |  |  |  |  |  |  |
U.S. Federal |  |  | (4,128 | ) |  |  | 9,950 |  |  |  | 8,203 |
U.S. State |  |  | (3,595 | ) |  |  | 2,057 |  |  |  | 3,718 |
Non-U.S. |  |  | (6 | ) |  |  | 436 |  |  |  | (896 | )
Total deferred |  |  | (7,729 | ) |  |  | 12,443 |  |  |  | 11,025 |
Total provision for income taxes |  | $ | 101,452 |  |  | $ | 60,713 |  |  | $ | 15,699 |
Significant Differences Between United States Federal Statutory Tax Rate and Company's Effective Tax Rate | The following table summarizes the significant differences between the United States Federal statutory tax rate and the Company’s effective tax rate for financial statement purposes:
|  | Fiscal Years Ended |
|  | March 31, 2012 |  |  | April 2, 2011 |  |  | April 3, 2010 |
Federal tax at 35% statutory rate |  |  | 35.0 | % |  |  | 35.0 | % |  |  | 35.0 | %
State and local income taxes, net of federal benefit |  |  | 4.8 | % |  |  | 7.1 | % |  |  | 10.6 | %
Differences in tax effects on foreign income |  |  | -1.3 | % |  |  | 1.9 | % |  |  | -1.7 | %
Foreign tax credit |  |  | -0.6 | % |  |  | -1.1 | % |  |  | 0.0 | %
Reserve for potential witholding requirements (1) |  |  | 0.0 | % |  |  | 0.1 | % |  |  | -15.2 | %
Liability for uncertain tax positions |  |  | 0.2 | % |  |  | 0.3 | % |  |  | 0.5 | %
Effect of changes in valuation allowances on deferred tax assets |  |  | 1.8 | % |  |  | 2.5 | % |  |  | -1.4 | %
Other |  |  | 0.9 | % |  |  | -0.2 | % |  |  | 0.8 | %
|  |  | 40.8 | % |  |  | 45.6 | % |  |  | 28.6 | %
| (1) | During Fiscal 2010, as a result of the reorganization of certain of the Company’s international operations, certain withholding tax requirements were eliminated and the related deferred tax liability previously required to be recognized of approximately $8.4 million was reversed.
Significant Components of Deferred Tax Assets (Liabilities) | Significant components of the Company’s deferred tax assets (liabilities) consist of the following (in thousands):
|  | March 31, 2012 |  |  | April 2, 2011 |
Deferred tax assets |  |  |  |  |  |  |  |
Inventories |  | $ | 5,185 |  |  | $ | 4,683 |
Payroll related accruals |  |  | 1,123 |  |  |  | 239 |
Deferred rent |  |  | 11,677 |  |  |  | 8,304 |
Net operating loss carryforwards |  |  | 8,142 |  |  |  | 4,460 |
Stock compensation |  |  | 7,777 |  |  |  | — |
Deferred revenue |  |  | 3,993 |  |  |  | 2,096 |
Other |  |  | 1,464 |  |  |  | 794 |
|  |  | 39,361 |  |  |  | 20,576 |
Valuation allowance |  |  | (8,233 | ) |  |  | (4,387 | )
Total deferred tax assets |  |  | 31,128 |  |  |  | 16,189 |
Deferred tax liabilities |  |  |  |  |  |  |  |
Goodwill and intangibles |  |  | (1,222 | ) |  |  | (1,380 | )
Depreciation |  |  | (20,801 | ) |  |  | (10,602 | )
Other |  |  | (308 | ) |  |  | (429 | )
Total deferred tax liabilities |  |  | (22,331 | ) |  |  | (12,411 | )
Net deferred tax assets |  | $ | 8,797 |  |  | $ | 3,778 |
Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits Excluding Accrued Interest | A reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding accrued interest, for Fiscal 2012 and Fiscal 2011, are presented below (in thousands):
|  | March 31, 2012 |  |  | April 2, 2011 |
Unrecognized tax benefits beginning balance |  | $ | 939 |  |  | $ | 378 |
Additions related to prior period tax positions |  |  | 246 |  |  |  | — |
Additions related to current period tax positions |  |  | 573 |  |  |  | 675 |
Decreases from prior period positions |  |  | — |  |  |  | (114 | )
Unrecognized tax benefits ending balance |  | $ | 1,758 |  |  | $ | 939 |

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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=6907707&loc=d3e32639-109319 + Details
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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
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