Annual report pursuant to Section 13 and 15(d)

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

    

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

    

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)