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Income Taxes | 12 Months Ended
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Dec. 30, 2015
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes The provisions for income taxes were as follows:
| Fiscal Year Ended
| December 30, 2015 |  | December 31, 2014 |  | December 25, 2013
| (In thousands)
Current: |  |  |  |  |
Federal | $ | 1,622 |  |  | $ | 377 |  |  | $ | 428 |
State and local | 1,382 |  |  | 1,818 |  |  | 1,548 |
Foreign | 873 |  |  | 896 |  |  | 872 |
Deferred: |  |  |  |  |
Federal | 12,264 |  |  | 13,269 |  |  | 9,285 |
State and local | 1,742 |  |  | (54 | ) |  | (185 | )
Release of valuation allowance | (130 | ) |  | (270 | ) |  | (420 | )
Total provision for income taxes | $ | 17,753 |  |  | $ | 16,036 |  |  | $ | 11,528 |
The reconciliation of income taxes at the U.S. federal statutory tax rate to our effective tax rate was as follows:
| December 30, 2015 |  | December 31, 2014 |  | December 25, 2013
Statutory provision rate | 35 | % |  | 35 | % |  | 35 | %
State and local taxes, net of federal income tax benefit | 5 |  |  | 3 |  |  | 5 |
Foreign taxes, net of federal income tax benefit | — |  |  | 1 |  |  | 1 |
Wage addback on income tax credits earned | 2 |  |  | 2 |  |  | 3 |
General business credits generated | (7 | ) |  | (6 | ) |  | (10 | )
Other | (2 | ) |  | (1 | ) |  | (1 | )
Release of valuation allowance | — |  |  | (1 | ) |  | (1 | )
Effective tax rate | 33 | % |  | 33 | % |  | 32 | %
The following table represents the approximate tax effect of each significant type of temporary difference that resulted in deferred income tax assets or liabilities.
| December 30, 2015 |  | December 31, 2014
| (In thousands)
Deferred tax assets: |  |  |
Self-insurance accruals | $ | 8,371 |  |  | $ | 9,063 |
Capitalized leases | 2,083 |  |  | 2,103 |
Accrued exit cost | 935 |  |  | 1,031 |
Fixed assets | 1,638 |  |  | 5,426 |
Interest rate swaps | 647 |  |  | — |
Pension, other retirement and compensation plans | 11,570 |  |  | 16,527 |
Other accruals | 395 |  |  | 2,526 |
Alternative minimum tax credit carryforwards | 5,344 |  |  | 7,811 |
General business credit carryforwards - state and federal | 20,691 |  |  | 22,089 |
Net operating loss carryforwards - state | 12,172 |  |  | 12,368 |
Total deferred tax assets before valuation allowance | 63,846 |  |  | 78,944 |
Less: valuation allowance | (12,395 | ) |  | (12,481 | )
Total deferred tax assets | 51,451 |  |  | 66,463 |
Deferred tax liabilities: |  |  |
Intangible assets | (22,190 | ) |  | (22,474 | )
Deferred finance costs | (102 | ) |  | (177 | )
Interest rate swaps | — |  |  | (250 | )
Total deferred tax liabilities | (22,292 | ) |  | (22,901 | )
Net deferred tax asset | $ | 29,159 |  |  | $ | 43,562 |
Net deferred tax assets are classified as follows: |  |  |
Current | $ | — |  |  | $ | 24,310 |
Noncurrent | 29,159 |  |  | 19,252 |
Total | $ | 29,159 |  |  | $ | 43,562 |
During the quarter ended December 30, 2015, we early adopted ASU 2015-17 in order to simplify the presentation of deferred taxes. This guidance requires that deferred tax assets and liabilities be classified as noncurrent. We chose to prospectively apply the guidance, therefore, as a result of our early adoption, all deferred taxes are reported as noncurrent in our Consolidated Balance Sheets as of December 30, 2015. Prior periods were not retrospectively adjusted. At December 30, 2015, we had available, on a consolidated basis, federal general business credit carryforwards of approximately $23.1 million, most of which expire between 2029 and 2035, and alternative minimum tax ("AMT") credit carryforwards of approximately $5.3 million, which never expire. We also had available AMT net operating loss ("AMT NOL") carryforwards of approximately $5.8 million, which expire in 2030. Approximately $5.3 million of general business credit carryforwards are unrecognized in the schedule above and on our Consolidated Balance Sheets as a result of the application of ASC Paragraph 718-740-25-10, which delays their recognition in paid-in capital until they reduce taxes payable. It is more likely than not that we will be able to utilize our credit carryforwards prior to expiration. In addition, it is more likely than not we will be able to utilize all of our existing temporary differences and a portion of our state tax net operating losses and state tax credit carryforwards prior to their expiration. Of the $12.4 million valuation allowance remaining, approximately $10.0 million represents South Carolina net operating loss carryforwards that will never be utilized. An additional $2.0 million of the valuation allowance, if released, will be credited directly to paid-in capital. Prior to 2005, Denny’s had ownership changes within the meaning of Section 382 of the Internal Revenue Code. In general, Section 382 places annual limitations on the use of certain tax attributes, such as AMT NOL and tax credit carryforwards, in existence at the ownership change date. It is our position that any pre-2005 AMT NOL and tax credits can be utilized as of December 30, 2015. The occurrence of an additional ownership change could limit our ability to utilize our current income tax credits generated after 2004. There were no unrecognized tax benefits associated with uncertain income tax positions as of December 30, 2015 and December 31, 2014. We do not expect the unrecognized tax benefits to increase over the next twelve months. As of and for the years ended December 30, 2015 and December 31, 2014, there were no related interest and penalties recognized in our Consolidated Balance Sheets and Consolidated Statements of Income. We file income tax returns in the U.S. federal jurisdictions and various state jurisdictions. With few exceptions, we are no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for years before 2011. We remain subject to examination for U.S. federal taxes for 2012-2015 and in the following major state jurisdictions: California (2011-2015), Florida (2012-2015) and Texas (2012-2015).

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- 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 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 2: 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 3: 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 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 + Details
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