XML 55 R23.htm IDEA: XBRL DOCUMENT

Note 15 - Income Taxes

6 Months Ended

Jun. 28, 2014

15.

Income Taxes

The projected fiscal 2014 effective income tax rate as of June 28, 2014 is approximately 41.7% and 28.4% in the United States and Canada, respectively, and has yielded a consolidated effective income tax rate of approximately 36.1% for the twenty-six week period ended June 28, 2014. The Company reduced an unrecognized tax benefit of $0.5 million during the twenty-six weeks ended June 29, 2013. Before considering this discreet adjustment, the projected fiscal 2013 effective income tax rate as of June 29, 2013 was approximately 41.3% and 26.5% in the United States and Canada, respectively, and yielded a consolidated effective income tax rate of approximately 40.8% for the twenty-six week period ended June 29, 2013. The relative income or loss generated in each jurisdiction can materially impact the overall effective income tax rate of the company.

- 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.

+ References+ Details