XML 18 R17.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Income Taxes | 12 Months Ended
--- | ---
May 30, 2013
Income Taxes [Abstract] |
Income Taxes |
8. Income Taxes The components of the net deferred tax liability are as follows:
|  | May 30, 2013 |  | May 31, 2012 |
|  | (in thousands) |
Current deferred income tax assets: |  |  |  |  |  |  |
Accrued employee benefits |  | $ | 838 |  | $ | 811 |
Other |  |  | 2,039 |  |  | 1,986 |
Net current deferred tax assets |  | $ | 2,877 |  | $ | 2,797 |
Noncurrent deferred income tax (liabilities) assets: |  |  |  |  |  |  |
Depreciation and amortization |  | $ | (58,032) |  | $ | (58,100) |
Accrued employee benefits |  |  | 13,192 |  |  | 12,607 |
Other |  |  | 1,324 |  |  | 1,121 |
Net noncurrent deferred tax liabilities |  | $ | (43,516) |  | $ | (44,372) |
Income tax expense consists of the following:
|  | Year Ended |
|  | May 30, 2013 |  | May 31, 2012 |  | May 26, 2011 |
|  | (in thousands) |
Current: |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 10,048 |  | $ | 10,617 |  | $ | 3,407 |
State |  |  | 2,448 |  |  | 3,082 |  |  | (58) |
Deferred: |  |  |  |  |  |  |  |  |  |
Federal |  |  | (964) |  |  | 1,325 |  |  | 3,264 |
State |  |  | (182) |  |  | (319) |  |  | 1,642 |
|  | $ | 11,350 |  | $ | 14,705 |  | $ | 8,255 |
The Company’s effective income tax rate, adjusted for earnings from noncontrolling interests, for Fiscal 2013, 2012 and 2011 was 39.3%, 39.3% and 37.8%, respectively. The Company has not included the income tax expense related to the net earnings attributable to noncontrolling interest in its income tax expense (benefit) as the entities are considered pass-through entities and, as such, the income tax expense is attributable to its owners. A reconciliation of the statutory federal tax rate to the effective tax rate on earnings attributable to The Marcus Corporation follows:
|  | Year Ended |
|  | May 30, 2013 |  |  | May 31, 2012 |  |  | May 26, 2011 |
Statutory federal tax rate |  |  | 35.0 | % |  |  | 35.0 | % |  |  | 35.0 | %
State income taxes, net of federal income tax benefit |  |  | 5.3 |  |  |  | 4.8 |  |  |  | 4.8 |
Unrecognized tax benefits and related interest |  |  | (0.6) |  |  |  | (1.1) |  |  |  | - |
Other |  |  | (0.4) |  |  |  | 0.6 |  |  |  | (2.0) |
|  |  | 39.3 | % |  |  | 39.3 | % |  |  | 37.8 | %
Net income taxes paid (refunds received) in fiscal 2013, 2012, and 2011 totaled $10,902,000, $14,496,000, and $(1,330,000), respectively. A reconciliation of the beginning and ending gross amounts of unrecognized tax benefit are as follows:
|  | Year Ended |
|  | May 30, 2013 |  | May 31, 2012 |  | May 26, 2011 |
|  | (in thousands) |
Balance at beginning of year |  | $ | 1,614 |  | $ | 2,543 |  | $ | 2,623 |
Increases due to: |  |  |  |  |  |  |  |  |  |
Tax positions taken in prior years |  |  | 102 |  |  | 1,535 |  |  | - |
Tax positions taken in current year |  |  | - |  |  | - |  |  | - |
Decreases due to: |  |  |  |  |  |  |  |  |  |
Tax positions taken in prior years |  |  | - |  |  | - |  |  | (66) |
Settlements with taxing authorities |  |  | (1,535) |  |  | (2,301) |  |  | - |
Lapse of applicable statute of limitations |  |  | (79) |  |  | (163) |  |  | (14) |
Balance at end of year |  | $ | 102 |  | $ | 1,614 |  | $ | 2,543 |
The Company’s total unrecognized tax benefits that, if recognized, would affect the Company’s effective tax rate were $67,000, $52,000, and $157,000 as of May 30, 2013, May 31, 2012, and May 26, 2011, respectively. At May 30, 2013, the Company had accrued interest of $43,000 and no accrued penalties, compared to accrued interest of $355,000 and no accrued penalties at May 31, 2012. The Company classifies interest and penalties relating to income taxes as income tax expense. For the year ended May 30, 2013, $(191,000) of interest and no accrued penalties were recognized in the statement of earnings, compared to $44,000 of interest and $(436,000) of penalties for the year ended May 31, 2012 and $(39,000) of interest and no penalties for the year ended May 26, 2011. At May 30, 2013, the Internal Revenue Service had concluded its examination of the Company’s consolidated federal income tax returns for the years 2009 and 2010. With certain exceptions, the Company’s state income tax returns are no longer subject to examination for the fiscal years 2008 and prior. At this time, the Company does not expect the results from any income tax audit or appeal to have a significant impact on the Company’s financial statements. The Company does not expect its unrecognized tax benefits to change significantly over the next twelve months.

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