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Income Taxes (Tables)

12 Months Ended

Jan. 02, 2016

Income Tax Disclosure [Abstract]

Schedule of (benefit from) provision for income taxes

Our provision for (benefit from) income taxes consisted of the following:

	Fiscal Year Ended January 2, 2016				Fiscal Year Ended January 3, 2015				Fiscal Year Ended January 4, 2014
	(In thousands)
Federal income taxes:
Current	$	—			$	—			$	(492	)
Deferred	—				—				(7,385		)
State income taxes:
Current	235				160				192
Deferred	—				—				(1,343		)
Foreign income taxes:
Current	(68		)		134				19
Deferred	(14		)		18				(4		)
Provision for (benefit from) income taxes	$	153			$	312			$	(9,013	)

Schedule of provision for (benefit from) income taxes is reconciled to the federal statutory

Our provision for (benefit from) income taxes is reconciled to the federal statutory amount as follows:

	Fiscal Year Ended January 2, 2016				Fiscal Year Ended January 3, 2015				Fiscal Year Ended January 4, 2014
	(In thousands)
Benefit from income taxes computed at the federal statutory tax rate	$	(3,998	)		$	(4,746	)		$	(17,371	)
Benefit from state income taxes, net of federal benefit	(474		)		(623		)		(1,991		)
Valuation allowance change	4,318				5,656				19,445
Nondeductible items	288				232				270
Benefit from allocation of income taxes to other comprehensive income (loss)	—				—				(8,726		)
Other	19				(207		)		(640		)
Provision for (benefit from) income taxes	$	153			$	312			$	(9,013	)

Schedule of net deferred income tax assets (liabilities)

The components of our net deferred income tax liabilities are as follows:

	January 2, 2016				January 3, 2015
	(In thousands)
Deferred income tax assets:
Inventory reserves	$	3,007			$	3,333
Compensation-related accruals	4,819				5,434
Accruals and reserves	508				787
Accounts receivable	744				728
Restructuring costs	32				212
Property and equipment	778				16
Pension	11,628				13,214
Benefit from net operating loss (“NOL”) carryovers (1)	82,055				76,264
Other	371				685
Total gross deferred income tax assets	103,942				100,673
Less: Valuation allowances	(103,311		)		(99,979		)
Total net deferred income tax assets	631				694
Deferred income tax liabilities:
Other	(634		)		(711		)
Total deferred income tax liabilities	(634		)		(711		)
Deferred income tax liabilities, net	$	(3	)		$	(17	)

⁽¹⁾  Our federal NOL carryovers are $199.5 million and will expire in 13 to 20 years. Our state NOL carryovers are $253.1 million and will expire in 1 to 20 years.

Schedule of activity in deferred tax asset valuation allowance

Activity in our deferred tax asset valuation allowance for fiscal years 2015 and 2014 was as follows:

	Fiscal Year Ended January 2, 2016				Fiscal Year Ended January 3, 2015
	(In thousands)
Balance as of beginning of the year	$	99,979			$	88,279
Valuation allowance provided for taxes related to:
Loss before income taxes	3,332				11,700
Balance as of end of the year	$	103,311			$	99,979

Schedule of activity related to unrecognized tax benefits

The following table summarizes the activity related to our unrecognized tax benefits:

	(In thousands)
Balance as of December 29, 2012	$	826
Increases related to current year tax positions	—
Additions for tax positions in prior years	—
Reductions for tax positions in prior years	—
Reductions due to lapse of applicable statute of limitations	(567		)
Settlements	—
Balance as of January 4, 2014	259
Increases related to current year tax positions	—
Additions for tax positions in prior years	—
Reductions for tax positions in prior years	—
Reductions due to lapse of applicable statute of limitations	(75		)
Settlements	—
Balance as of January 3, 2015	184
Increases related to current year tax positions	—
Additions for tax positions in prior years	—
Reductions for tax positions in prior years	—
Reductions due to lapse of applicable statute of limitations	—
Settlements	—
Balance as of January 2, 2016	$	184

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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.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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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.

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-SubTopic 10
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Tabular disclosure of the change in unrecognized tax benefits.

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