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Income Taxes (Tables)
12 Months Ended
Mar. 28, 2015
Income Taxes [Abstract]  
Components of the provision for income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended Fiscal March

 

 

2015

 

2014

 

2013

 

 

(Dollars in thousands)

Current -

 

 

 

 

 

 

 

 

 

Federal

 

$

28,262 

 

$

25,978 

 

$

22,366 

State

 

 

2,956 

 

 

1,579 

 

 

2,266 

 

 

 

31,218 

 

 

27,557 

 

 

24,632 

Deferred -

 

 

 

 

 

 

 

 

 

Federal

 

 

6,194 

 

 

4,793 

 

 

(101)

State

 

 

144 

 

 

(273)

 

 

(274)

 

 

 

6,338 

 

 

4,520 

 

 

(375)

Total

 

$

37,556 

 

$

32,077 

 

$

24,257 

 

Deferred tax (liabilities) assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 28,

 

March 29,

 

 

2015

 

2014

 

 

(Dollars in thousands)

Goodwill

 

$

(24,167)

 

$

(18,189)

Other

 

 

(939)

 

 

(734)

Total deferred tax liabilities

 

 

(25,106)

 

 

(18,923)

Property and equipment

 

 

20,592 

 

 

5,815 

Insurance reserves

 

 

10,813 

 

 

9,774 

Warranty and other reserves

 

 

4,538 

 

 

4,228 

Stock options

 

 

3,729 

 

 

3,897 

Accrued compensation

 

 

1,913 

 

 

1,650 

Deferred rent

 

 

1,861 

 

 

1,961 

Other

 

 

5,770 

 

 

5,168 

Total deferred tax assets

 

 

49,216 

 

 

32,493 

Net deferred tax assets

 

$

24,110 

 

$

13,570 

 

Reconciliation between Federal statutory tax rate and effective tax rate reflected in accompanying financial statements

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended Fiscal March

 

 

2015

 

2014

 

2013

 

 

Amount

 

Percent

 

Amount

 

Percent

 

Amount

 

Percent

 

 

(Dollars in thousands)

Federal income tax based on

     statutory tax rate applied

     to income before taxes

 

$

34,774 

 

35.0 

 

$

30,287 

 

35.0 

 

$

23,388 

 

35.0 

State income tax, net of
     federal income tax benefit

 

 

2,170 

 

2.2 

 

 

2,097 

 

2.4 

 

 

1,159 

 

1.7 

Other

 

 

612 

 

0.6 

 

 

(307)

 

(0.3)

 

 

(290)

 

(0.4)

 

 

$

37,556 

 

37.8 

 

$

32,077 

 

37.1 

 

$

24,257 

 

36.3 

 

Income taxes associated with unrecognized tax benefits

 

 

 

 

 

 

 

 

 

 

Dollars in thousands

Balance at March 31, 2012

 

$

5,484 

Tax positions related to current year:

 

 

 

Additions

 

 

1,198 

Reductions

 

 

 

Tax positions related to prior years:

 

 

 

Additions

 

 

 

Reductions

 

 

 

Settlements

 

 

(266)

Lapses in statutes of limitations

 

 

(712)

Balance at March 30, 2013

 

 

5,704 

Tax positions related to current year:

 

 

 

Additions

 

 

1,678 

Reductions

 

 

 

Tax positions related to prior years:

 

 

 

Additions

 

 

 

Reductions

 

 

(88)

Settlements

 

 

(381)

Lapses in statutes of limitations

 

 

(1,013)

Balance at March 29, 2014

 

 

5,900 

Tax positions related to current year:

 

 

 

Additions

 

 

2,066 

Reductions

 

 

 

Tax positions related to prior years:

 

 

 

Additions

 

 

164 

Reductions

 

 

33 

Settlements

 

 

 

Lapses in statutes of limitations

 

 

(668)

Balance at March 28, 2015

 

$

7,495