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Income Taxes

9 Months Ended

Sep. 30, 2014

The following table presents the Company's provision for income taxes for the third quarters of 2014 and 2013 and the first three quarters ended September 30, 2014 and October 1, 2013 (dollars in thousands):



	Fiscal Quarter Ended						Three Fiscal Quarters Ended
	September 30, 2014			October 1, 2013			September 30, 2014			October 1, 2013
Provision for income taxes	$	1,990		$	2,183		$	5,380		$	2,633
Effective tax rate	40.3		%	40.1		%	40.5		%	38.2		%

The 2014 estimated annual effective tax rate is expected to be between 40% and 41% compared to 41.7% for 2013. The effective tax rate for both the third quarter of 2014 and the first three quarters of 2014 includes the change to a 35% federal income tax rate compared to a 34% rate in 2013. The effective tax rate for the first three quarters of 2013 includes the discrete adjustment for certain transaction costs related to the IPO.

- 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.

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