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Income Taxes (Tables) | 12 Months Ended
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Jun. 30, 2019
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 30, 2019 |  |  | June 24, 2018 |  |  | June 25, 2017 |
U.S. |  | $ | (13,326 | ) |  | $ | (7,852 | ) |  | $ | 2,689 |
Foreign |  |  | 23,337 |  |  |  | 38,063 |  |  |  | 40,586 |
Income before income taxes |  | $ | 10,011 |  |  | $ | 30,211 |  |  | $ | 43,275 |
Schedule of Provision (Benefit) for Income Taxes | Provision (benefit) for income taxes consists of the following:
|  | For the Fiscal Year Ended |
|  | June 30, 2019 |  |  | June 24, 2018 |  |  | June 25, 2017 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | (178 | ) |  | $ | (4,918 | ) |  | $ | (6,082 | )
State |  |  | 28 |  |  |  | (416 | ) |  |  | (130 | )
Foreign |  |  | 7,282 |  |  |  | 9,639 |  |  |  | 10,224 |
Total current tax expense |  |  | 7,132 |  |  |  | 4,305 |  |  |  | 4,012 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (813 | ) |  |  | (5,315 | ) |  |  | 6,602 |
State |  |  | 1,097 |  |  |  | (872 | ) |  |  | 162 |
Foreign |  |  | 139 |  |  |  | 391 |  |  |  | 122 |
Total deferred tax expense |  |  | 423 |  |  |  | (5,796 | ) |  |  | 6,886 |
Provision (benefit) for income taxes |  | $ | 7,555 |  |  | $ | (1,491 | ) |  | $ | 10,898 |
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 30, 2019 |  |  | June 24, 2018 |  |  | June 25, 2017 |
Federal statutory tax rate |  |  | 21.0 | % |  |  | 28.3 | % |  |  | 35.0 | %
Foreign income taxed at different rates |  |  | 16.1 |  |  |  | (2.4 | ) |  |  | (10.2 | )
Repatriation of foreign earnings and withholding taxes |  |  | 20.3 |  |  |  | 1.8 |  |  |  | 1.4 |
Repatriation of foreign earnings due to tax reform |  |  | 0.7 |  |  |  | 23.9 |  |  |  | — |
Revaluation of U.S. deferred balances due to tax reform |  |  | 3.1 |  |  |  | (14.2 | ) |  |  | — |
U.S. tax on GILTI |  |  | 32.5 |  |  |  | — |  |  |  | — |
Change in valuation allowance |  |  | (1.5 | ) |  |  | (12.9 | ) |  |  | (0.5 | )
Foreign tax credits |  |  | (11.9 | ) |  |  | (11.0 | ) |  |  | — |
Domestic production activities deduction |  |  | (5.6 | ) |  |  | 0.5 |  |  |  | 2.0 |
Research and other credits |  |  | (7.7 | ) |  |  | (1.8 | ) |  |  | (5.1 | )
State income taxes, net of federal tax benefit |  |  | (0.6 | ) |  |  | (3.9 | ) |  |  | 0.2 |
Change in uncertain tax positions |  |  | 8.2 |  |  |  | (15.1 | ) |  |  | 1.8 |
Nondeductible compensation |  |  | 5.1 |  |  |  | 1.6 |  |  |  | — |
Nontaxable income |  |  | (4.2 | ) |  |  | — |  |  |  | — |
Nondeductible expenses and other |  |  | — |  |  |  | 0.3 |  |  |  | 0.6 |
Effective tax rate |  |  | 75.5 | % |  |  | (4.9 | )% |  |  | 25.2 | %
Deferred Tax Assets and Liabilities | The significant components of UNIFI’s deferred tax assets and liabilities consist of the following:
|  | June 30, 2019 |  |  | June 24, 2018 |
Deferred tax assets: |  |  |  |  |  |  |  |
Investments, including unconsolidated affiliates |  | $ | 5,680 |  |  | $ | 5,429 |
Intangible assets |  |  | 1,679 |  |  |  | 2,141 |
Accrued compensation and benefits |  |  | 1,761 |  |  |  | 2,089 |
Tax credits |  |  | 17,237 |  |  |  | 5,845 |
NOL carryforwards |  |  | 4,381 |  |  |  | 10,008 |
Research and development costs |  |  | 4,081 |  |  |  | — |
Other items |  |  | 5,555 |  |  |  | 4,847 |
Total gross deferred tax assets |  |  | 40,374 |  |  |  | 30,359 |
Valuation allowance |  |  | (26,020 | ) |  |  | (15,143 | )
Net deferred tax assets |  |  | 14,354 |  |  |  | 15,216 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
PP&E |  |  | (18,325 | ) |  |  | (19,375 | )
Other |  |  | (295 | ) |  |  | (216 | )
Total deferred tax liabilities |  |  | (18,620 | ) |  |  | (19,591 | )
Net deferred tax liabilities |  | $ | (4,266 | ) |  | $ | (4,375 | )
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 30, 2019 |  |  | June 24, 2018 |  |  | June 25, 2017 |
Balance at beginning of year |  | $ | (15,143 | ) |  | $ | (17,957 | ) |  | $ | (13,550 | )
(Increase) decrease in valuation allowance |  |  | (10,877 | ) |  |  | 2,814 |  |  |  | (4,407 | )
Balance at end of year |  | $ | (26,020 | ) |  | $ | (15,143 | ) |  | $ | (17,957 | )
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 30, 2019 |  |  | June 24, 2018 |  |  | June 25, 2017 |
Investments, including unconsolidated affiliates |  | $ | (5,696 | ) |  | $ | (5,522 | ) |  | $ | (7,789 | )
NOL carryforwards (1) |  |  | (4,048 | ) |  |  | (4,191 | ) |  |  | (9,379 | )
Tax credits |  |  | (16,276 | ) |  |  | (5,430 | ) |  |  | (789 | )
Total deferred tax valuation allowance |  | $ | (26,020 | ) |  | $ | (15,143 | ) |  | $ | (17,957 | )
(1) | Includes 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 30, 2019 |  |  | June 24, 2018 |  |  | June 25, 2017 |
Balance at beginning of year |  | $ | 166 |  |  | $ | 4,463 |  |  | $ | 4,254 |
Gross increases related to current period tax positions |  |  | 26 |  |  |  | 26 |  |  |  | 124 |
Gross increases (decreases) related to tax positions in prior periods |  |  | 980 |  |  |  | (119 | ) |  |  | 524 |
Gross decreases related to settlements with tax authorities |  |  | — |  |  |  | (4,204 | ) |  |  | (439 | )
Gross decreases related to lapse of applicable statute of limitations |  |  | (89 | ) |  |  | — |  |  |  | — |
Balance at end of year |  | $ | 1,083 |  |  | $ | 166 |  |  | $ | 4,463 |

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