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Income Taxes (Tables)
12 Months Ended
Dec. 27, 2020
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

 

 

 

2020

 

 

2019

 

 

2018

 

Domestic operations

 

$

(72,708

)

 

$

(9,790

)

 

$

(11,381

)

Foreign operations

 

 

 

 

 

395

 

 

 

637

 

Total

 

$

(72,208

)

 

$

(9,395

)

 

$

(10,744

)

Components of Income Tax Expense (Benefit)

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

 

 

 

Fiscal Year

 

 

 

2020

 

 

2019

 

 

2018

 

Federal:

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

$

(6,739

)

 

$

159

 

 

$

(339

)

Deferred

 

 

13

 

 

 

9,379

 

 

 

(1,644

)

 

 

 

(6,726

)

 

 

9,538

 

 

 

(1,983

)

State and Local:

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

 

185

 

 

 

227

 

 

 

73

 

Deferred

 

 

5

 

 

 

4,425

 

 

 

(305

)

 

 

 

190

 

 

 

4,652

 

 

 

(232

)

Foreign:

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

 

 

 

 

 

 

 

20

 

 

 

 

 

 

 

 

 

 

20

 

Income tax expense (benefit)

 

$

(6,536

)

 

$

14,190

 

 

$

(2,195

)

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

 

 

 

2020

 

 

2019

 

 

2018

 

U.S. federal statutory tax

 

 

21.0

%

 

 

21.0

%

 

 

21.0

%

Computed “expected” tax benefit

 

$

(15,164

)

 

$

(1,973

)

 

$

(2,256

)

Increase (reduction) resulting from:

 

 

 

 

 

 

 

 

 

 

 

 

Valuation allowance

 

 

14,265

 

 

 

16,116

 

 

 

-

 

Rate change impact of net operating loss carryback

 

 

(2,592

)

 

 

-

 

 

 

-

 

Minority interest

 

 

74

 

 

 

(107

)

 

 

(87

)

Permanent differences

 

 

99

 

 

 

425

 

 

 

220

 

State and local income taxes, net of federal income tax effect

 

 

(3,338

)

 

 

(361

)

 

 

(436

)

FICA and other tax credits

 

 

(248

)

 

 

(504

)

 

 

(522

)

Equity compensation

 

 

477

 

 

 

577

 

 

 

1,089

 

Other

 

 

(109

)

 

 

(106

)

 

 

(252

)

Tax rate change

 

 

 

 

 

123

 

 

 

49

 

 

 

$

(6,536

)

 

$

14,190

 

 

$

(2,195

)

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 27,

 

 

December 29,

 

 

 

2020

 

 

2019

 

Deferred tax assets:

 

 

 

 

 

 

 

 

Net operating loss carryforwards

 

$

14,364

 

 

$

3,721

 

Accrued liabilities

 

 

2,152

 

 

 

848

 

Deferred revenue

 

 

573

 

 

 

423

 

Stock-based compensation

 

 

1,993

 

 

 

2,516

 

Property and equipment

 

 

3,505

 

 

 

4,568

 

Operating lease liabilities

 

 

59,230

 

 

 

62,313

 

Tax credits and other carryforwards

 

 

2,319

 

 

 

1,538

 

Gross deferred tax assets

 

 

84,136

 

 

 

75,927

 

Valuation allowance

 

 

(30,381

)

 

 

(16,116

)

Net deferred tax assets

 

 

53,755

 

 

 

59,811

 

Deferred tax liabilities:

 

 

 

 

 

 

 

 

Prepaids

 

 

(285

)

 

 

(492

)

Right-of-use asset for operating leases

 

 

(51,637

)

 

 

(57,717

)

Intangible assets

 

 

(1,249

)

 

 

(1,162

)

Smallwares

 

 

(482

)

 

 

(533

)

Other

 

 

(348

)

 

 

(134

)

Total deferred tax liabilities

 

 

(54,001

)

 

 

(60,038

)

Net deferred tax liabilities

 

$

(246

)

 

$

(227

)