Annual report [Section 13 and 15(d), not S-K Item 405]

Income Taxes (Tables)

v3.19.3.a.u2
Income Taxes (Tables)
12 Months Ended
Dec. 26, 2019
Income Taxes  
Schedule of components of the provision for income taxes

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​

​

​

​

​

​

​

​

​

​

​

    

Fiscal Year Ended

    

Fiscal Year Ended

    

Fiscal Year Ended

​

​

December 26,

​

December 27,

​

December 28,

​

​

2019

​

2018

​

2017

Current expense / (benefit):

 

​

  

 

​

  

 

​

  

Federal

​

$

7,975

​

$

5,496

​

$

(4,097)

State

​

 

2,358

​

 

1,669

​

 

479

Total current expense / benefit

​

 

10,333

​

 

7,165

​

 

(3,618)

Deferred expense / (benefit):

​

 

  

​

 

  

​

 

  

Federal

​

 

(6,522)

​

 

922

​

 

(250)

State

​

 

(4,062)

​

 

(1,890)

​

 

(368)

Total deferred (benefit) / expense

​

 

(10,584)

​

 

(968)

​

 

(618)

Provision for income taxes

​

$

(251)

​

$

6,197

​

$

(4,236)

Schedule of effective income tax reconciliation

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​

​

​

​

​

​

​

​

​

​

​

    

Fiscal Year Ended

    

Fiscal Year Ended

    

Fiscal Year Ended

​

​

December 26,

​

December 27,

​

December 28,

​

​

2019

​

2018

​

2017

Computed “expected” provision at statutory rate

​

$

31,580

​

$

25,700

​

$

34,499

State income taxes, net of federal income tax benefit

​

 

(1,364)

​

 

(627)

​

 

(28)

Permanent differences:

​

 

​

​

​

​

​

​

​

Excess tax benefit related to options exercised

​

​

(29,441)

​

​

(17,478)

​

​

(20,762)

Non-qualified option holder dividend equivalent

​

​

—

​

​

—

​

​

—

Other

​

​

543

​

​

457

​

​

691

Total permanent differences

​

​

(28,898)

​

​

(17,021)

​

​

(20,071)

Change in U.S. tax rate

​

​

—

​

​

(573)

​

​

(17,850)

Provision to return

​

​

(282)

​

​

(739)

​

​

(63)

Federal tax credits

​

​

(1,306)

​

​

(685)

​

​

(577)

Other, net

​

 

19

​

 

142

​

 

(146)

Provision for income taxes

​

$

(251)

​

$

6,197

​

$

(4,236)

Schedule of deferred tax assets and liabilities

​

​

​

​

​

​

​

​

​

    

Fiscal Year Ended

    

Year Ended

​

​

December 26,

​

December 27,

​

​

2019

​

2018

Deferred tax assets:

 

​

  

 

​

  

Accruals not currently deductible for tax purposes

​

$

2,820

​

$

13,338

Tenant improvement allowances

​

 

—

​

 

9,239

Inventories

​

 

5,283

​

 

3,948

Stock based compensation

​

 

3,984

​

 

3,684

Other intangibles

​

 

313

​

 

361

Gift card liability

​

 

453

​

 

242

Litigation accrual

​

​

139

​

​

172

Lease liabilities

​

​

233,106

​

​

—

Other

​

 

3,718

​

 

2,858

Total deferred tax assets

​

 

249,816

​

 

33,842

Deferred tax liabilities:

​

 

  

​

 

  

Intangible assets

​

 

(26,939)

​

 

(27,023)

Fixed assets

​

 

(35,576)

​

 

(30,681)

Right-of-use assets

​

​

(203,028)

​

​

—

Other

​

 

(2,651)

​

 

(2,976)

Total deferred tax liabilities

​

 

(268,194)

​

 

(60,680)

Net deferred tax liabilities

​

$

(18,378)

​

$

(26,838)