XML 84 R34.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Income Taxes (Tables) | 12 Months Ended
--- | ---
Jan. 03, 2015
Income Tax Disclosure [Abstract] |
Significant components of the Company’s deferred tax liabilities and assets | Significant components of the Company's deferred tax liabilities and assets are as follows at the respective year ends:
(Amounts in thousands) | 2014 |  | 2013
Deferred tax assets: |  |  |
Inventory valuation reserves | $ | 303 |  |  | $ | 794 |
Allowance for doubtful accounts | 85 |  |  | 100 |
Inventory capitalization | 1,504 |  |  | 3,089 |
Environmental reserves | 206 |  |  | 224 |
Interest rate swap | 41 |  |  | 128 |
Back charge accrual | 23 |  |  | 203 |
Deferred compensation | 93 |  |  | 97 |
Accrued bonus | 739 |  |  | — |
Facility closing reserves | 568 |  |  | — |
State net operating loss carryforwards | 206 |  |  | 142 |
Other | 370 |  |  | 253 |
Total deferred tax assets | 4,138 |  |  | 5,030 |
Deferred tax liabilities: |  |  |  |  |
Tax over book depreciation and amortization | 6,804 |  |  | 8,021 |
Prepaid expenses | 825 |  |  | 749 |
Other | 26 |  |  | 57 |
Total deferred tax liabilities | 7,655 |  |  | 8,827 |
Net deferred tax liabilities | $ | (3,517 | ) |  | $ | (3,797 | )
Significant components of the provision for (benefit from) income taxes for continuing operations | Significant components of the provision for income taxes from continuing operations are as follows:
(Amounts in thousands) | 2014 |  | 2013 |  | 2012
Current: |  |  |  |  |
Federal | $ | 3,933 |  |  | $ | 2,192 |  |  | $ | 1,493 |
State | 656 |  |  | 344 |  |  | 236 |
Total current | 4,589 |  |  | 2,536 |  |  | 1,729 |
Deferred: |  |  |  |  |  |  |  |
Federal | 964 |  |  | (1,113 | ) |  | 250 |
State | (167 | ) |  | (213 | ) |  | (85 | )
Total deferred | 797 |  |  | (1,326 | ) |  | 165 |
Total | $ | 5,386 |  |  | $ | 1,210 |  |  | $ | 1,894 |
Reconciliation of income tax computed at the U. S. federal statutory tax rates to income tax expense for continuing operations | The reconciliation of income tax computed at the U. S. federal statutory tax rates to income tax expense is:
(Amounts in thousands) | 2014 |  | 2013 |  | 2012
Amount |  | % |  | Amount |  | % |  | Amount |  | %
Tax at U.S. statutory rates | $ | 6,302 |  |  | 35.0 | % |  | $ | 1,397 |  |  | 34.0 | % |  | $ | 1,998 |  |  | 34.0 | %
State income taxes, net of federal tax benefit | 324 |  |  | 1.8 | % |  | 74 |  |  | 1.8 | % |  | 106 |  |  | 1.8 | %
Palmer earn-out adjustment | (1,217 | ) |  | (6.8 | )% |  | — |  |  | — | % |  | — |  |  | — | %
Bargain gain on CRI acquisition | — |  |  | — | % |  | (366 | ) |  | (8.9 | )% |  | — |  |  | — | %
Manufacturing exemption | (458 | ) |  | (2.5 | )% |  | (138 | ) |  | (3.4 | )% |  | (180 | ) |  | (3.1 | )%
Stock issuance costs | — |  |  | — | % |  | 101 |  |  | 2.5 | % |  | — |  |  | — | %
Stock option compensation | 91 |  |  | 0.5 | % |  | 85 |  |  | 2.1 | % |  | 38 |  |  | 0.6 | %
Uncertain tax positions | 139 |  |  | 0.8 | % |  | — |  |  | — | % |  | — |  |  | — | %
Other, net | 205 |  |  | 1.1 | % |  | 57 |  |  | 1.4 | % |  | (68 | ) |  | (1.1 | )%
Total | $ | 5,386 |  |  | 29.9 | % |  | $ | 1,210 |  |  | 29.5 | % |  | $ | 1,894 |  |  | 32.2 | %
Schedule of the Company's uncertain tax positions | Provided below is a roll forward of the Company's uncertain tax positions.
| (Amounts in thousands) | Unrecognized Tax Benefit |  | Interest and Penalties |  | Total
| Balance at December 29, 2012 | — |  |  | — |  |  | — |
|  | Increases related to prior year tax positions | — |  |  | — |  |  | — |
|  | Decreases related to prior year tax positions | — |  |  | — |  |  | — |
|  | Increases related to current year tax position | — |  |  | — |  |  | — |
|  | Settlements during period | — |  |  | — |  |  | — |
|  | Lapse of statute of limitations | — |  |  | — |  |  | — |
| Balance at December 28, 2013 | — |  |  | — |  |  | — |
|  | Increases related to prior year tax positions | 1,431 |  |  | 73 |  |  | 1,504 |
|  | Decreases related to prior year tax positions | — |  |  | — |  |  | — |
|  | Increases related to current year tax position | — |  |  | — |  |  | — |
|  | Settlements during period | — |  |  | — |  |  | — |
|  | Lapse of statute of limitations | — |  |  | — |  |  | — |
| Balance at January 3, 2015 | 1,431 |  |  | 73 |  |  | 1,504 |

X
- Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: 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 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: 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
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions. + 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 + Details
Name: | us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration