v2.4.0.8

Income Taxes | 12 Months Ended
--- | ---
Dec. 29, 2013
Income Tax Disclosure [Abstract] |
Income Tax Disclosure [Text Block] | Income Taxes The expense for income taxes consists of the following (in thousands):
| Year Ended
| December 29, 2013 |  | December 30, 2012 |  | January 1, 2012
Current income tax expense | $ | 2,069 |  |  | $ | 6,111 |  |  | $ | 5,885 |
Tax (deficiency) benefit from stock based compensation recorded in equity | (583 | ) |  | (2,567 | ) |  | 771 |
Deferred income tax expense (benefit) | 2,204 |  |  | 1,030 |  |  | (761 | )
Total income tax expense | $ | 3,690 |  |  | $ | 4,574 |  |  | $ | 5,895 |
A reconciliation of the statutory Federal income tax rate to the effective tax rate is as follows:
| Year Ended
| December 29, 2013 |  | December 30, 2012 |  | January 1, 2012
Statutory federal income tax rate | 35.0 | % |  | 35.0 | % |  | 35.0 | %
Domestic production activities deduction | (7.8 | )% |  | — | % |  | — | %
Other, net | (1.9 | )% |  | 0.3 | % |  | (0.8 | )%
Effective tax rate | 25.3 | % |  | 35.3 | % |  | 34.2 | %
Deferred income taxes reflect the net tax effect of temporary differences between amounts recorded for financial reporting purposes and amounts used for tax purposes. The major components of deferred tax assets are as follows (in thousands):
| December 29, 2013 |  | December 30, 2012
Deferred tax assets: |  |  |
Current: |  |  |
Reserves and allowances | $ | 804 |  |  | $ | 722 |
Deferred rent | 96 |  |  | 86 |
Inventory | 261 |  |  | 295 |
Other | 190 |  |  | 141 |
Noncurrent: |  |  |
Stock-based compensation | 7,174 |  |  | 8,657 |
Deferred rent | 768 |  |  | 656 |
Financing obligation | 201 |  |  | 219 |
Other | 255 |  |  | 243 |
Gross deferred tax assets | $ | 9,749 |  |  | $ | 11,019 |
Valuation allowance | (36 | ) |  | (27 | )
Gross deferred tax assets, net of valuation allowance | $ | 9,713 |  |  | $ | 10,992 |
Deferred tax liabilities: |  |  |
Current: |  |  |
Prepaid expenses | $ | (295 | ) |  | $ | (301 | )
Other | (18 | ) |  | (17 | )
Noncurrent: |  |  |
Leased building | (216 | ) |  | (234 | )
Excess of book over tax depreciation and amortization | (2,676 | ) |  | (1,728 | )
Gross deferred tax liabilities | (3,205 | ) |  | (2,280 | )
Net deferred tax assets | $ | 6,508 |  |  | $ | 8,712 |
At December 29, 2013, the Company had foreign net operating loss carryforwards for income tax purposes of approximately $0.1 million. If not utilized the foreign net operating loss carryforwards will begin to expire in 2018. The Company had a valuation allowance of $36,000 and $27,000 at December 29, 2013 and December 30, 2012, respectively. The valuation allowance relates to foreign net operating losses that would be realizable only upon the generation of future taxable income in the jurisdiction in which the losses were incurred. Prepaid income taxes were $0.2 million at December 29, 2013. Income taxes payable were $2.7 million at December 30, 2012 and were included in accrued liabilities. The Company has not provided for deferred taxes on unremitted earnings of subsidiaries outside the United States where such earnings are permanently reinvested. At December 29, 2013, unremitted earnings of foreign subsidiaries were $0.8 million. The amount of unrecognized deferred tax liability associated with these unremitted earnings is approximately $0.2 million. If these earnings were distributed in the form of dividends or otherwise, the Company would be subject to U.S. income taxes less an adjustment for applicable foreign tax credits. The tax benefit realized for the tax deduction from stock-based compensation totaled $2.7 million, $0.6 million, and $1.8 million for the years ended December 29, 2013, December 30, 2012, and January 1, 2012, respectively. As of December 29, 2013, the Company had $0.1 million of gross unrecognized tax benefits, all of which, if recognized, would affect the effective tax rate. The Company is no longer subject to U.S. federal income tax examinations by tax authorities for years before 2010. The following table summarizes the gross unrecognized tax benefits activity for the fiscal years ended December 29, 2013, December 30, 2012 and January 1, 2012 (in thousands):
| Year Ended
| December 29, 2013 |  | December 30, 2012 |  | January 1, 2012
Unrecognized tax benefits - beginning balance | $ | — |  |  | $ | — |  |  | $ | — |
Increase related to current year tax positions | 86 |  |  | — |  |  | — |
Unrecognized tax benefits - ending balance | $ | 86 |  |  | $ | — |  |  | $ | — |

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

X
- 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 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 2: 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 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 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 Reference 6: 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 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration