XML 31 R37.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Income Taxes | 6 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 24, 2012 | Sep. 24, 2011
Income Taxes [Abstract] |  |
Income Taxes |
13. | Income Taxes
For federal income tax purposes, as well as for state income tax purposes in the majority of the states in which the Partnership operates, the earnings attributable to the Partnership, as a separate legal entity, and the Operating Partnership are not subject to income tax at the Partnership level. Rather, the taxable income or loss attributable to the Partnership, as a separate legal entity, and to the Operating Partnership, which may vary substantially from the income before income taxes, reported by the Partnership in the condensed consolidated statement of operations, are includable in the federal and state income tax returns of the individual partners. The aggregate difference in the basis of the Partnership's net assets for financial and tax reporting purposes cannot be readily determined as the Partnership does not have access to information regarding each partner's basis in the Partnership. As described in Note 1, the earnings of the Corporate Entities are subject to corporate level federal and state income tax. However, based upon past performance, the Corporate Entities are currently reporting an income tax provision composed primarily of alternative minimum tax. A full valuation allowance has been provided against the deferred tax assets based upon an analysis of all available evidence, both negative and positive at the balance sheet date, which, taken as a whole, indicates that it is more likely than not that sufficient future taxable income will not be available to utilize the assets. Management's periodic reviews include, among other things, the nature and amount of the taxable income and expense items, the expected timing of when assets will be used or liabilities will be required to be reported and the reliability of historical profitability of businesses expected to provide future earnings. Furthermore, management considered tax-planning strategies it could use to increase the likelihood that the deferred assets will be realized. |
6. | Income Taxes
For federal income tax purposes, as well as for state income tax purposes in the majority of the states in which the Partnership operates, the earnings attributable to the Partnership, as a separate legal entity, and the Operating Partnership are not subject to income tax at the partnership level. With the exception of those states that impose an entity-level income tax on partnerships, the taxable income or loss attributable to the Partnership, as a separate legal entity, and to the Operating Partnership, which may vary substantially from the income (loss) before income taxes reported by the Partnership in the consolidated statement of operations, are includable in the federal and state income tax returns of the individual partners. The aggregate difference in the basis of the Partnership's net assets for financial and tax reporting purposes cannot be readily determined as the Partnership does not have access to each partner's basis in the Partnership. As described in Note 1 and Note 2, the earnings of the Corporate Entities are subject to corporate level federal and state income tax. However, based upon past performance, the Corporate Entities are currently reporting an income tax provision composed primarily of alternative minimum tax and state income taxes in the few states that impose taxes on partnerships. A full valuation allowance has been provided against the deferred tax assets based upon an analysis of all available evidence, both negative and positive at the balance sheet date, which, taken as a whole, indicates that it is more likely than not that sufficient future taxable income will not be available to utilize the assets. Management's periodic reviews include, among other things, the nature and amount of the taxable income and expense items, the expected timing when assets will be used or liabilities will be required to be reported and the reliability of historical profitability of businesses expected to provide future earnings. Furthermore, management considered tax-planning strategies it could use to increase the likelihood that the deferred assets will be realized. The income tax provision of all the legal entities included in the Partnership's consolidated statement of operations consists of the following:
|  | Year Ended |
|  | September 24, |  |  | September 25, |  |  | September 26, |
|  | 2011 |  |  | 2010 |  |  | 2009 |
Current |  |  |  |  |  |  |  |  |
Federal |  | $ | 135 |  |  | $ | 177 |  |  | $ | 173 |
State and local |  |  | 749 |  |  |  | 1,005 |  |  |  | 928 |
|  |  | 884 |  |  |  | 1,182 |  |  |  | 1,101 |
Deferred |  |  | - |  |  |  | - |  |  |  | 1,385 |
|  | $ | 884 |  |  | $ | 1,182 |  |  | $ | 2,486 |
The provision for income taxes differs from income taxes computed at the United States federal statutory rate as a result of the following:
|  | Year Ended |
|  | September 24, |  |  | September 25, |  |  | September 26, |
|  | 2011 |  |  | 2010 |  |  | 2009 |
Income tax provision at federal statutory tax rate |  | $ | 40,548 |  |  | $ | 40,361 |  |  | $ | 58,704 |
Impact of Partnership income not subject to federal income taxes |  |  | (39,952 | ) |  |  | (38,808 | ) |  |  | (56,294 | )
Permanent differences |  |  | 239 |  |  |  | 2,051 |  |  |  | 719 |
Change in valuation allowance |  |  | (454 | ) |  |  | (4,806 | ) |  |  | (2,048 | )
State income taxes |  |  | 492 |  |  |  | 2,247 |  |  |  | 1,262 |
Other |  |  | 11 |  |  |  | 137 |  |  |  | 143 |
Provision for income taxes - current and deferred |  | $ | 884 |  |  | $ | 1,182 |  |  | $ | 2,486 |
The components of net deferred taxes and the related valuation allowance using currently enacted tax rates are as follows:
|  | As of |
|  | September 24, |  |  | September 25, |
|  | 2011 |  |  | 2010 |
Deferred tax assets: |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 32,938 |  |  | $ | 33,214 |
Allowance for doubtful accounts |  |  | 1,323 |  |  |  | 713 |
Inventory |  |  | 658 |  |  |  | 1,423 |
Intangible assets |  |  | 1,201 |  |  |  | 1,362 |
Deferred revenue |  |  | 1,303 |  |  |  | 1,408 |
Derivative instruments |  |  | 71 |  |  |  | 700 |
AMT credit carryforward |  |  | 1,086 |  |  |  | 925 |
Other accruals |  |  | 1,936 |  |  |  | 1,726 |
Total deferred tax assets |  |  | 40,516 |  |  |  | 41,471 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Property, plant and equipment |  |  | 314 |  |  |  | 815 |
Total deferred tax liabilities |  |  | 314 |  |  |  | 815 |
Net deferred tax assets |  |  | 40,202 |  |  |  | 40,656 |
Valuation allowance |  |  | (40,202 | ) |  |  | (40,656 | )
Net deferred tax assets |  | $ | - |  |  | $ | - |

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 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 2: 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 3: 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 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 5: 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 Reference 6: 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 7: 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 8: 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 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration