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Income Taxes (Tables)

7 Months Ended

Dec. 31, 2015

Income Taxes [Abstract]

Schedule of Deferred Tax Assets and Liabilities

The components of the net deferred tax liability are as follows:

		December 31, 2015			May 28, 2015			May 29, 2014
		(in thousands)
Current deferred income tax assets:
Accrued employee benefits		$	818		$	948		$	832
Other			1,989			2,049			2,224
Net current deferred tax assets		$	2,807		$	2,997		$	3,056
Noncurrent deferred income tax (liabilities) assets:
Depreciation and amortization		$	(63,906)		$	(64,460)		$	(58,035)
Accrued employee benefits			16,400			15,612			14,206
Other			1,294			1,346			1,268
Net noncurrent deferred tax liabilities		$	(46,212)		$	(47,502)		$	(42,561)

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense consists of the following:

		31 Weeks Ended			Year Ended
		December 31, 2015			May 28, 2015			May 29, 2014			May 30, 2013
		(in thousands)
Current:
Federal		$	12,688		$	8,065		$	14,788		$	10,048
State			3,240			2,120			2,654			2,448
Deferred:
Federal			(829)			4,328			(861)			(964)
State			(314)			1,165			229			(182)
		$	14,785		$	15,678		$	16,810		$	11,350

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the statutory federal tax rate to the effective tax rate on earnings attributable to The Marcus Corporation follows:

		31 Weeks Ended			Year Ended
		December 31, 2015			May 28, 2015			May 29, 2014			May 30, 2013
Statutory federal tax rate		35.0	%		35.0	%		35.0	%		35.0	%
State income taxes, net of federal income tax benefit		5.1			5.3			4.5			5.3
Tax credits, net of federal income tax benefit		(1.0)			(1.1)			(0.2)			(0.5)
Unrecognized tax benefits and related interest		–			–			–			(0.6)
Other		(0.5)			0.3			0.9			0.1
		38.6	%		39.5	%		40.2	%		39.3	%

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending gross amounts of unrecognized tax benefit are as follows:

		31 Weeks Ended			Year Ended
		December 31, 2015			May 28, 2015			May 29, 2014			May 30, 2013
		(in thousands)
Balance at beginning of year		$	431		$	102		$	102		$	1,614
Increases due to:
Tax positions taken in prior years			-			543			-			102
Tax positions taken in current year			-			-			-			-
Decreases due to:
Tax positions taken in prior years			-			-			-			-
Settlements with taxing authorities			(17)			(214)			-			(1,535)
Lapse of applicable statute of limitations			-			-			-			(79)
Balance at end of year		$	414		$	431		$	102		$	102

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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
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-SubTopic 10
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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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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Tabular disclosure of the change in unrecognized tax benefits.

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