XML 64 R16.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Income Taxes | 12 Months Ended
--- | ---
Dec. 27, 2014
Income Taxes [Abstract] |
Income Taxes | Note 8 Income Taxes The provision (benefit) for income taxes consists of:
(dollars in thousands) |  | 2014 |  | 2013 |  | 2012
Current: |  |  |  |  |  |
Federal | $ | 24,809 | $ | 26,994 | $ | 30,258
State |  | 1,237 |  | 6,774 |  | 2,534
Deferred: |  |  |  |  |  |
Federal |  | 2,686 |  | 8,184 |  | 12,107
State |  | 1,099 |  | 2,193 |  | 3,504
| $ | 29,831 | $ | 44,145 | $ | 48,403
The reconciliation of income taxes computed at the federal statutory rate (35% in 2014, 2013 and 2012) to the provision for income taxes is:
(dollars in thousands) |  | 2014 |  | 2013 |  | 2012
Income taxes at federal statutory rate | $ | 29,749 | $ | 40,553 | $ | 45,820
State income taxes, net of federal income tax benefit |  | 1,519 |  | 5,828 |  | 3,925
Other |  | (1,437) |  | (2,236) |  | (1,342)
Provision for income taxes (effective tax rate 35.1%, 38.1% and 37.0%, respectively) | $ | 29,831 | $ | 44,145 | $ | 48,403
Cash paid for federal income taxes was $25,000,000, $26,350,000 and $27,500,000 in 2014, 2013 and 2012 respectively. The tax effects of temporary differences that give rise to deferred tax assets and deferred tax liabilities at December 27, 2014 and December 28, 2013, are:
(dollars in thousands) |  | 2014 |  | 2013
Deferred tax assets: |  |  |  |
Accounts receivable | $ | 615 | $ | 585
Compensated absences |  | 362 |  | 403
Long term employment incentives |  | 1,161 |  | 2,785
Employee benefit plans |  | 3,771 |  | 4,221
General liability insurance |  | 1,344 |  | 1,223
Postretirement benefit obligations |  | 7,676 |  | 7,037
Net operating loss carryforwards |  | 6,218 |  | 5,736
Other |  | 1,358 |  | -
Total deferred tax assets |  | 22,505 |  | 21,990
Deferred tax liabilities: |  |  |  |
Inventories |  | (7,459) |  | (6,809)
Unrealized gains on marketable securities |  | (3,371) |  | (2,753)
Nondeductible accruals and other |  | (6,522) |  | (4,745)
Depreciation |  | (111,709) |  | (109,836)
Total deferred tax liabilities |  | (129,061) |  | (124,143)
Net deferred tax liability | $ | (106,556) | $ | (102,153)
Current deferred liability - net | $ | (5,800) | $ | (4,219)
Noncurrent deferred liability - net |  | (100,756) |  | (97,934)
Net deferred tax liability | $ | (106,556) | $ | (102,153)
Note 8 Income Taxes (continued) The following table summarizes the activity related to the Company’s unrecognized tax benefits:
(dollars in thousands) |  | 2014 |  | 2013
Unrecognized tax benefits at beginning of year | $ | - | $ | 225
Increases based on tax positions related to the current year |  | - |  | -
Additions for tax positions of prior year |  | - |  | -
Reductions for tax positions of prior years |  | - |  | -
Settlements |  | - |  | (225)
Expiration of the statute of limitations for assessment of taxes |  | - |  | -
Unrecognized tax benefits at end of year | $ | - | $ | -
During 2013, the Company completed a final settlement with a state taxing authority resulting in a $225,000 state tax benefit net of Federal income taxes. The Company’s U.S. Federal income tax filings have been examined by the Internal Revenue Service through 2008. The Company or one of its subsidiaries files tax returns in various states. The tax years subject to examination in Pennsylvania, where the majority of the Company's revenues are generated, are 2011 to 2014. The Company has net operating loss carryforwards of $95.5 million available for state income tax purposes. The net operating losses will begin to expire starting in 2027. The Company expects to fully utilize these net operating loss carryforwards.

X
- Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 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=26873400&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 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 5: 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 6: 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
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration