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v2.4.1.9

Taxes (Tables) | 12 Months Ended
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Mar. 28, 2015
Income Before Provision for Income Taxes | Income before provision for income taxes consisted of the following (in thousands):
|  | Fiscal Years Ended |
|  | March 28, 2015 |  |  | March 29, 2014 |  |  | March 30, 2013 |
U.S. |  | $ | 814,368 |  |  | $ | 792,899 |  |  | $ | 538,607 |
Non-U.S. |  |  | 441,455 |  |  |  | 214,748 |  |  |  | 88,520 |
Total income before provision for income taxes |  | $ | 1,255,823 |  |  | $ | 1,007,647 |  |  | $ | 627,127 |
Provision for Income Taxes |
The provision for income taxes was as follows (in thousands): |  |  |  |  |  |  |  |  |  |  |  |
|  | Fiscal Years Ended |
|  | March 28, 2015 |  |  | March 29, 2014 |  |  | March 30, 2013 |
Current |  |  |  |  |  |  |  |  |  |  |  |
U.S. Federal |  | $ | 277,001 |  |  | $ | 295,159 |  |  | $ | 179,014 |
U.S. State |  |  | 49,645 |  |  |  | 50,348 |  |  |  | 32,249 |
Non-U.S. |  |  | 41,922 |  |  |  | 30,560 |  |  |  | 15,040 |
Total current |  |  | 368,568 |  |  |  | 376,067 |  |  |  | 226,303 |
Deferred |  |  |  |  |  |  |  |  |  |  |  |
U.S. Federal |  |  | 5,020 |  |  |  | (24,847 | ) |  |  | 1,246 |
U.S. State |  |  | 331 |  |  |  | (3,594 | ) |  |  | 2,088 |
Non-U.S. |  |  | 881 |  |  |  | (1,464 | ) |  |  | (112 | )
Total deferred |  |  | 6,232 |  |  |  | (29,905 | ) |  |  | 3,222 |
Total provision for income taxes |  | $ | 374,800 |  |  | $ | 346,162 |  |  | $ | 229,525 |
Significant Differences Between United States Federal Statutory Tax Rate and Company's Effective Tax Rate | The following table summarizes the significant differences between the U.S. federal statutory tax rate and the Company’s effective tax rate for financial statement purposes:
|  | Fiscal Years Ended |
|  | March 28, 2015 |  |  | March 29, 2014 |  |  | March 30, 2013 |
Federal tax at 35% statutory rate |  |  | 35.0 | % |  |  | 35.0 | % |  |  | 35.0 | %
State and local income taxes, net of federal benefit |  |  | 2.4 | % |  |  | 2.3 | % |  |  | 3.6 | %
Differences in tax effects on foreign income |  |  | -9.0 | % |  |  | -3.9 | % |  |  | -3.1 | %
Foreign tax credit |  |  | -0.4 | % |  |  | -0.2 | % |  |  | -0.2 | %
Liability for uncertain tax positions |  |  | 0.2 | % |  |  | 0.8 | % |  |  | 0.5 | %
Effect of changes in valuation allowances on deferred tax assets |  |  | -0.1 | % |  |  | -0.2 | % |  |  | 0.3 | %
Other |  |  | 1.7 | % |  |  | 0.6 | % |  |  | 0.5 | %
|  |  | 29.8 | % |  |  | 34.4 | % |  |  | 36.6 | %
Significant Components of Deferred Tax Assets (Liabilities) | Significant components of the Company’s deferred tax assets (liabilities) consist of the following (in thousands):
|  | March 28, 2015 |  |  | March 29, 2014 |
Deferred tax assets |  |  |  |  |  |  |  |
Inventories |  | $ | 11,194 |  |  | $ | 11,380 |
Payroll related accruals |  |  | 408 |  |  |  | 4,722 |
Deferred rent |  |  | 30,428 |  |  |  | 24,281 |
Deferred revenue |  |  | — |  |  |  | 2,389 |
Net operating loss carryforwards |  |  | 5,860 |  |  |  | 7,743 |
Stock compensation |  |  | 23,845 |  |  |  | 14,117 |
Sales allowances |  |  | 10,090 |  |  |  | 7,654 |
Other |  |  | 11,054 |  |  |  | 9,589 |
|  |  | 92,879 |  |  |  | 81,875 |
Valuation allowance |  |  | (5,640 | ) |  |  | (8,020 | )
Total deferred tax assets |  |  | 87,239 |  |  |  | 73,855 |
Deferred tax liabilities |  |  |  |  |  |  |  |
Goodwill and intangibles |  |  | (32,704 | ) |  |  | (24,324 | )
Depreciation |  |  | (34,633 | ) |  |  | (20,691 | )
Other |  |  | (3,910 | ) |  |  | (526 | )
Total deferred tax liabilities |  |  | (71,247 | ) |  |  | (45,541 | )
Net deferred tax assets |  | $ | 15,992 |  |  | $ | 28,314 |
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 2015, Fiscal 2014, and Fiscal 2013, are presented below (in thousands):
|  | March 28, 2015 |  |  | March 29, 2014 |  |  | March 30, 2013 |
Unrecognized tax benefits beginning balance |  | $ | 18,087 |  |  | $ | 6,628 |  |  | $ | 1,758 |
Additions related to prior period tax positions |  |  | 443 |  |  |  | 2,515 |  |  |  | 3,318 |
Additions related to current period tax positions |  |  | 5,193 |  |  |  | 9,312 |  |  |  | 2,482 |
Decreases from prior period positions |  |  | (3,838 | ) |  |  | (368 | ) |  |  | (930 | )
Unrecognized tax benefits ending balance |  | $ | 19,885 |  |  | $ | 18,087 |  |  | $ | 6,628 |

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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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- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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