XML 54 R28.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Income Taxes (Tables)
12 Months Ended
Dec. 29, 2019
Income Tax Disclosure [Abstract]  
Schedule of Income (Loss) Before Income Taxes

Income (loss) before income taxes for the Company’s domestic and foreign operations was as follows (in thousands):

 

 

 

Fiscal Year

 

 

 

2019

 

 

2018

 

 

2017

 

Domestic operations

 

$

(9,790

)

 

$

(11,381

)

 

$

(2,513

)

Foreign operations

 

 

395

 

 

 

637

 

 

 

466

 

Total

 

$

(9,395

)

 

$

(10,744

)

 

$

(2,047

)

Components of Income Tax Expense (Benefit)

Income tax expense (benefit) consisted of the following (in thousands):

 

 

 

Fiscal Year

 

 

 

2019

 

 

2018

 

 

2017

 

Federal:

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

159

 

 

$

(339

)

 

$

(3,728

)

Deferred

 

 

9,379

 

 

 

(1,644

)

 

 

8,792

 

 

 

 

9,538

 

 

 

(1,983

)

 

 

5,064

 

State and Local:

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

 

227

 

 

 

73

 

 

 

150

 

Deferred

 

 

4,425

 

 

 

(305

)

 

 

(584

)

 

 

 

4,652

 

 

 

(232

)

 

 

(434

)

Foreign:

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

 

 

 

 

20

 

 

 

13

 

 

 

 

 

 

 

20

 

 

 

13

 

Income tax expense (benefit)

 

$

14,190

 

 

$

(2,195

)

 

$

4,643

 

Reconciliation of Differences Between Federal Statutory and Effective Income (Loss) Tax Rate

 

Income tax expense (benefit) differed from the amounts computed by applying the U.S. federal income tax rates to income (loss) before income taxes as a result of the following (in thousands):

 

 

 

Fiscal Year

 

 

 

2019

 

 

2018

 

 

2017

 

U.S. federal statutory tax

 

 

21.0

%

 

 

21.0

%

 

 

35.0

%

Computed “expected” tax expense (benefit)

 

$

(1,973

)

 

$

(2,256

)

 

$

(716

)

Increase (reduction) resulting from:

 

 

 

 

 

 

 

 

 

 

 

 

Valuation allowance

 

 

16,116

 

 

 

-

 

 

 

-

 

Minority interest

 

 

(107

)

 

 

(87

)

 

 

(105

)

Permanent differences

 

 

425

 

 

 

220

 

 

 

96

 

State and local income taxes, net of federal income tax

effect

 

 

(361

)

 

 

(436

)

 

 

5

 

FICA and other tax credits

 

 

(504

)

 

 

(522

)

 

 

(502

)

Equity compensation

 

 

577

 

 

 

1,089

 

 

 

2,112

 

Adjustments

 

 

(106

)

 

 

(252

)

 

 

(93

)

Tax rate change

 

 

123

 

 

 

49

 

 

 

3,846

 

 

 

$

14,190

 

 

$

(2,195

)

 

$

4,643

 

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities reflected in the consolidated balance sheets are presented below (in thousands):

 

 

 

December 29,

 

 

December 30,

 

 

 

2019

 

 

2018

 

Deferred tax assets:

 

 

 

 

 

 

 

 

Net operating loss carryforwards

 

$

3,721

 

 

$

576

 

Accrued liabilities

 

 

848

 

 

 

1,449

 

Deferred revenue

 

 

423

 

 

 

543

 

Stock-based compensation

 

 

2,516

 

 

 

2,685

 

Property and equipment

 

 

4,568

 

 

 

5,037

 

Operating lease liabilities

 

 

62,313

 

 

 

 

Deferred rent

 

 

 

 

 

4,373

 

Tax credits and charitable contribution carryforwards

 

 

1,538

 

 

 

981

 

Gross deferred tax assets

 

 

75,927

 

 

 

15,644

 

Valuation allowance

 

 

(16,116

)

 

 

 

Net deferred tax assets

 

 

59,811

 

 

 

15,644

 

Deferred tax liabilities:

 

 

 

 

 

 

 

 

Prepaids

 

 

(492

)

 

 

(466

)

Right-of-use asset for operating leases

 

 

(57,717

)

 

 

 

Intangible assets

 

 

(1,162

)

 

 

(1,075

)

Smallwares

 

 

(533

)

 

 

(566

)

Other

 

 

(134

)

 

 

(152

)

Total deferred tax liabilities

 

 

(60,038

)

 

 

(2,259

)

Net deferred tax liabilities

 

$

(227

)

 

$

13,385