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Income Taxes (Tables)

12 Months Ended

Dec. 27, 2020

Income Tax Disclosure [Abstract]

Schedule of income (loss) before income tax

Loss before income taxes includes the following components for the fiscal years ended December 27, 2020, December 29, 2019, and December 30, 2018 (in thousands):

						2020						2019						2018
U.S.						$	(262,728)					$	(14,549)					$	(16,045)
Foreign						(20,824)						(7,688)						(5,365)
Loss before income taxes						$	(283,552)					$	(22,237)					$	(21,410)

Schedule of provision (benefit) for income taxes

The benefit for income taxes for the fiscal years ended December 27, 2020, December 29, 2019, and December 30, 2018 consist of the following (in thousands):

						2020						2019						2018
Current:
Federal						$	(60,340)					$	(3,054)					$	2,043
State						1,354						(1,687)						1,579
Foreign						—						—						—
Total current income tax (benefit) expense						$	(58,986)					$	(4,741)					$	3,622
Deferred:
Federal						$	44,353					$	(10,994)					$	(16,688)
State						8,086						1,354						(2,068)
Foreign						(937)						47						143
Total deferred income tax expense (benefit)						51,502						(9,593)						(18,613)
Income tax benefit						$	(7,484)					$	(14,334)					$	(14,991)

Schedule of reconciliation of income tax provision that would result from applying the federal statutory rate to income tax provision

The reconciliation between the income tax benefit and the amount of income tax computed by applying the U.S. federal statutory rate to loss before income taxes as shown in the accompanying consolidated statements of operations and comprehensive loss for fiscal years ended December 27, 2020, December 29, 2019, and December 30, 2018 is as follows:

						2020						2019						2018
Tax provision at U.S. federal statutory rate						21.0		%				21.0		%				21.0		%
State income taxes						3.9						2.2						2.9
FICA tip tax credits						—						46.0						49.9
Foreign taxes versus U.S statutory rate						0.2						0.8						0.9
Valuation allowance on deferred income tax assets						(27.9)						(9.1)						(7.5)
Impact of CARES Act and related method changes						5.5						—						—
Other tax credits						—						6.1						7.1
Meals and entertainment						—						(0.7)						(0.8)
Excess stock options						(0.1)						(2.9)						(0.6)
Employee travel						—						(0.1)						(2.1)
Other						—						1.2						(0.8)
Effective tax rate						2.6		%				64.5		%				70.0		%

Schedule of the Company's total deferred tax assets and liabilities

The Company's federal and state deferred taxes at December 27, 2020 and December 29, 2019 are as follows (in thousands):

						2020						2019
Deferred tax assets:
Leasing transactions						$	134,471					$	131,679
General business and other tax credits						40,366						40,409
Net operating loss carryover						23,567						5,346
Accrued compensation and related costs						11,893						5,970
Goodwill						9,536						—
Stock-based compensation						5,561						4,920
Advanced payments						4,702						3,597
Other non-current deferred tax assets						3,073						2,238
Subtotal						233,169						194,159
Valuation allowance						(86,677)						(7,293)
Total						$	146,492					$	186,866
Deferred tax liabilities:
Leasing transactions						$	(112,860)					$	(112,766)
Property and equipment						(21,549)						(757)
Supplies inventory						(4,267)						(4,611)
Prepaid expenses						(2,884)						(3,387)
Goodwill						—						(12,138)
Other non-current deferred tax liabilities						(4,932)						(1,680)
Total						$	(146,492)					$	(135,339)
Net deferred tax asset						$	—					$	51,527

Schedule of the Company's unrecognized tax benefits

The following table summarizes the Company's unrecognized tax benefits at December 27, 2020 and December 29, 2019 (in thousands):

						2020						2019
Beginning of year						$	104					$	304
Increase due to current year tax positions						—						52
Due to decrease to a position taken in a prior year						(24)						(170)
Settlements						—						(16)
Reductions related to lapses						—						(66)
End of year						$	80					$	104

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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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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 income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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