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Income Taxes (Tables)

12 Months Ended

Jun. 24, 2018

Income Tax Disclosure [Abstract]

Components of Income before Income Taxes

The components of income before income taxes consist of the following:

		For the Fiscal Year Ended
		June 24, 2018				June 25, 2017				June 26, 2016
United States		$	(7,852	)		$	2,689			$	21,679
Foreign			38,063				40,586				26,564
Income before income taxes		$	30,211			$	43,275			$	48,243

Schedule of (Benefit) Provision for Income Taxes

(Benefit) provision for income taxes consists of the following:

		For the Fiscal Year Ended
		June 24, 2018				June 25, 2017				June 26, 2016
Current:
Federal		$	(4,918	)		$	(6,082	)		$	1,545
State			(416	)			(130	)			764
Foreign			9,639				10,224				6,781
Total current tax expense			4,305				4,012				9,090
Deferred:
Federal			(5,315	)			6,602				6,304
State			(872	)			162				255
Foreign			391				122				(576	)
Total deferred tax expense			(5,796	)			6,886				5,983
(Benefit) provision for income taxes		$	(1,491	)		$	10,898			$	15,073

Reconciliation from Federal Statutory Tax Rate to Effective Tax Rate

Reconciliation from the federal statutory tax rate to the effective tax rate is as follows:

		For the Fiscal Year Ended
		June 24, 2018				June 25, 2017				June 26, 2016
Federal statutory tax rate			28.3	%			35.0	%			35.0	%
Foreign income taxed at different rates			(2.4	)			(10.2	)			(7.7	)
Repatriation of foreign earnings and withholding taxes			1.8				1.4				(1.0	)
Repatriation of foreign earnings due to tax reform			23.9				—				—
Revaluation of U.S. deferred balances due to tax reform			(14.2	)			—				—
Change in valuation allowance			(12.9	)			(0.5	)			(3.7	)
Foreign tax credits			(11.0	)			—				—
Domestic production activities deduction			0.5				2.0				(0.5	)
Research and other credits			(1.8	)			(5.1	)			4.8
State income taxes, net of federal tax benefit			(3.9	)			0.2				1.5
Change in uncertain tax positions			(15.1	)			1.8				1.2
Nondeductible compensation			1.6				—				—
Nondeductible expenses and other			0.3				0.6				1.6
Effective tax rate			(4.9	)%			25.2	%			31.2	%

Deferred Tax Assets and Liabilities

The significant components of UNIFI’s deferred tax assets and liabilities consist of the following:

		June 24, 2018				June 25, 2017
Deferred tax assets:
Investments, including unconsolidated affiliates		$	5,429			$	7,737
State tax credits			411				338
Accrued liabilities and valuation reserves			2,829				3,952
NOL carryforwards			10,008				7,854
Intangible assets, net			2,089				3,932
Incentive compensation plans			2,130				2,487
Foreign tax credits			5,430				789
Capital loss carryforward			1,105				1,746
Research credit carryforward			—				1,115
Other items			2,226				5,224
Total gross deferred tax assets			31,657				35,174
Valuation allowance			(15,143	)			(17,957	)
Net deferred tax assets			16,514				17,217
Deferred tax liabilities:
PP&E			(20,153	)			(26,417	)
Other			(736	)			(63	)
Total deferred tax liabilities			(20,889	)			(26,480	)
Net deferred tax liabilities		$	(4,375	)		$	(9,263	)

Deferred Tax Valuation Allowance Activities

The balances and activity for UNIFI’s deferred tax valuation allowance are as follows:

		For the Fiscal Year Ended
		June 24, 2018				June 25, 2017				June 26, 2016
Balance at beginning of year		$	(17,957	)		$	(13,550	)		$	(15,606	)
Decrease (increase) in valuation allowance			2,814				(4,407	)			2,056
Balance at end of year		$	(15,143	)		$	(17,957	)		$	(13,550	)

Schedule of Components of Deferred Tax Valuation Allowance

Components of UNIFI’s deferred tax valuation allowance are as follows:

		For the Fiscal Year Ended
		June 24, 2018				June 25, 2017				June 26, 2016
Investment in a former domestic unconsolidated affiliate		$	(3,942	)		$	(6,269	)		$	(6,418	)
Equity-method investment in PAL			(1,580	)			(1,520	)			(2,102	)
Certain losses carried forward (1)			(1,562	)			(5,924	)			(5,030	)
State NOLs			(169	)			(108	)			—
Other foreign NOLs			(2,460	)			(3,347	)			—
Foreign tax credits			(5,430	)			(789	)			—
Total deferred tax valuation allowance		$	(15,143	)		$	(17,957	)		$	(13,550	)

(1) Certain U.S. NOLs and capital losses outside the U.S. consolidated tax filing group.

Reconciliation of Beginning and Ending Gross Amounts of Unrecognized Tax Benefits

A reconciliation of beginning and ending gross amounts of unrecognized tax benefits is as follows:

		For the Fiscal Year Ended
		June 24, 2018				June 25, 2017				June 26, 2016
Balance at beginning of year		$	5,236			$	4,532			$	4,029
Gross increases related to current period tax positions			324				473				110
Gross (decreases) increases related to tax positions in prior periods			(119	)			711				1,058
Gross decreases related to settlements with tax authorities			(5,234	)			(480	)			(274	)
Gross decreases related to lapse of applicable statute of limitations			—				—				(391	)
Balance at end of year		$	207			$	5,236			$	4,532

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