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INCOME TAXES | 12 Months Ended
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Mar. 30, 2013
Income Tax Disclosure [Abstract] |
INCOME TAXES | INCOME TAXES Domestic and foreign income before provision for income tax is as follows:
(In thousands) | March 30, 2013 |  | March 31, 2012 |  | April 2, 2011
Domestic | $ | 17,360 |  |  | $ | 40,666 |  |  | $ | 58,040 |
Foreign | 32,537 |  |  | 48,832 |  |  | 52,041 |
Total | $ | 49,897 |  |  | $ | 89,498 |  |  | $ | 110,081 |
The income tax provision contains the following components:
(In thousands) | March 30, 2013 |  | March 31, 2012 |  | April 2, 2011
Current |  |  |  |  |  |  |  |
Federal | $ | 3,795 |  |  | $ | 8,505 |  |  | $ | 14,982 |
State | 1,324 |  |  | 2,275 |  |  | 2,111 |
Foreign | 5,389 |  |  | 5,954 |  |  | 7,226 |
Total current | $ | 10,508 |  |  | $ | 16,734 |  |  | $ | 24,319 |
Deferred |  |  |  |  |  |  |  |
Federal | 1,644 |  |  | 7,522 |  |  | 4,931 |
State | (229 | ) |  | (597 | ) |  | 438 |
Foreign | (826 | ) |  | (1,047 | ) |  | 413 |
Total deferred | $ | 589 |  |  | $ | 5,878 |  |  | $ | 5,782 |
Total | $ | 11,097 |  |  | $ | 22,612 |  |  | $ | 30,101 |
Included in the federal income tax provisions for fiscal 2013, 2012 and 2011 are approximately $1.6 million, $2.2 million and $10.8 million, respectively, provided on foreign source income of approximately $4.5 million, $6.2 million and $31.0 million for fiscal years 2013, 2012 and 2011, respectively, for taxes which are payable in the United States. Tax affected, significant temporary differences comprising the net deferred tax liability are as follows:
(In thousands) | March 30, 2013 |  | March 31, 2012
Depreciation | $ | (25,186 | ) |  | $ | (17,208 | )
Amortization | (14,776 | ) |  | (19,249 | )
Inventory | 7,884 |  |  | 4,224 |
Hedging | (162 | ) |  | (589 | )
Accruals and reserves | 7,208 |  |  | 6,352 |
Net operating loss carry-forward | 1,877 |  |  | 3,354 |
Stock based compensation | 7,834 |  |  | 8,649 |
Tax credit carry-forward, net | 2,243 |  |  | 2,328 |
Gross deferred taxes | $ | (13,078 | ) |  | $ | (12,139 | )
Less valuation allowance | (1,009 | ) |  | (1,569 | )
Net deferred tax liability | $ | (14,087 | ) |  | $ | (13,708 | )
As of March 30, 2013, we have approximately $1.9 million in U.S. acquisition and $0.6 million in foreign related net operating loss carry forwards that it believes are more likely than not that they will be realized. We also have $2.6 million in gross federal and state tax credits available to offset future tax. We have established valuation allowances to reduce the value of tax assets to amounts that it deems to be realizable. The valuation allowance is made up of $0.4 million acquisition related R&D credits and $0.6 million acquisition related net operating losses for fiscal 2013 and $0.4 million and $1.2 million respectively for fiscal 2012. The net operating loss carry forwards are subject to separate limitations and will expire beginning in 2020. Approximately $200.0 million of our foreign subsidiary undistributed earnings are deemed to be permanently reinvested outside the U.S. Accordingly, we have not provided U.S. income taxes on these earnings. The income tax provision from operations differs from tax provision computed at the 35% U.S. federal statutory income tax rate due to the following:
(In thousands) | March 30, 2013 |  | March 31, 2012 |  | April 2, 2011
Tax at federal statutory rate | $ | 17,464 |  |  | 35.0 | % |  | $ | 31,324 |  |  | 35.0 | % |  | $ | 38,528 |  |  | 35.0 | %
Domestic manufacturing deduction | (504 | ) |  | (1.0 | )% |  | (700 | ) |  | (0.8 | )% |  | (1,120 | ) |  | (1.0 | )%
Difference between U.S. and foreign tax | (5,584 | ) |  | (11.2 | )% |  | (8,539 | ) |  | (9.5 | )% |  | (8,610 | ) |  | (7.9 | )%
State income taxes net of federal benefit | 718 |  |  | 1.4 | % |  | 1,136 |  |  | 1.3 | % |  | 1,741 |  |  | 1.6 | %
Repatriation of earnings | — |  |  | — | % |  | — |  |  | — | % |  | (506 | ) |  | (0.5 | )%
Research credit | (799 | ) |  | (1.6 | )% |  | (752 | ) |  | (0.9 | )% |  | (209 | ) |  | (0.2 | )%
Other, net | (198 | ) |  | (0.4 | )% |  | 143 |  |  | 0.2 | % |  | 277 |  |  | 0.3 | %
Income tax provision | $ | 11,097 |  |  | 22.2 | % |  | $ | 22,612 |  |  | 25.3 | % |  | $ | 30,101 |  |  | 27.3 | %
Unrecognized Tax Benefits Unrecognized tax benefits represent uncertain tax positions for which reserves have been established. As of March 30, 2013, we had $6.9 million of unrecognized tax benefits, of which $6.7 million will impact the effective tax rate, if recognized. As of March 31, 2012, we had $6.9 million of unrecognized tax benefits, of which $6.6 million will impact the effective tax rate, if recognized. During the fiscal year ended March 30, 2013 our unrecognized tax benefits were increased by $0.5 million as a result of additional tax benefits arising in the prior year return and current year. The following table summarizes the activity related to our gross unrecognized tax benefits for the fiscal years ended March 30, 2013, March 31, 2012 and April 2, 2011:
(In thousands) | March 30, 2013 |  | March 31, 2012 |  | April 2, 2011
Beginning Balance | $ | 6,885 |  |  | $ | 4,669 |  |  | $ | 4,620 |
Additions based upon positions related to the current year | 1,192 |  |  | 1,124 |  |  | 20 |
Additions for tax positions of prior years | 18 |  |  | 1,216 |  |  | 1,641 |
Reductions of tax positions | — |  |  | (124 | ) |  | (1,042 | )
Settlements with taxing authorities | (80 | ) |  | — |  |  | — |
Closure of statute of limitations | (1,085 | ) |  | — |  |  | (570 | )
Ending Balance | $ | 6,930 |  |  | $ | 6,885 |  |  | $ | 4,669 |
As of March 30, 2013 we anticipate that the liability for unrecognized tax benefits for uncertain tax positions could change by up to $0.4 million in the next twelve months, as a result of closure of various foreign statutes of limitations. Our historic practice has been and continues to be to recognize interest and penalties related to Federal, state and foreign income tax matters in income tax expense. Approximately $0.8 million and $1.0 million is accrued for interest at March 30, 2013 and March 31, 2012, respectively and is not included in the amounts above. We conduct business globally and, as a result, file consolidated and separate Federal, state and foreign income tax returns in multiple jurisdictions. In the normal course of business, we are subject to examination by taxing authorities throughout the world. With a few exceptions overseas, we are no longer subject to U.S. federal, state and local, or foreign income tax examinations for years before 2009.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 136, 172 -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. Reference 2: 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)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 43, 44, 45, 46, 47, 48, 49 -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. Reference 6: 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 Reference 7: 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 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
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