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Income Taxes (Tables)
12 Months Ended
Mar. 26, 2016
Income Taxes [Abstract]  
Summary of Income Before Income Taxes



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



Fiscal Years Ended



March 26,

 

March 28,

 

March 29,



2016

 

2015

 

2014

United States

$

108,133 

 

$

133,295 

 

$

155,431 

Non-U.S.

 

67,856 

 

 

(41,746)

 

 

306 



$

175,989 

 

$

91,549 

 

$

155,737 



Summary of Provision (Benefit) for Income Taxes



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



Fiscal Years Ended



March 26,

 

March 28,

 

March 29,



2016

 

2015

 

2014

Current:

 

 

 

 

 

 

 

 

Federal

$

28,154 

 

$

42,102 

 

$

10,550 

State

 

159 

 

 

63 

 

 

258 

Non-U.S.

 

703 

 

 

445 

 

 

335 

Total current tax provision

$

29,016 

 

$

42,610 

 

$

11,143 



 

 

 

 

 

 

 

 

Deferred:

 

 

 

 

 

 

 

 

U.S.

 

18,242 

 

 

2,136 

 

 

36,543 

Non-U.S.

 

5,101 

 

 

(8,375)

 

 

(60)

Total deferred tax provision (benefit)

 

23,343 

 

 

(6,239)

 

 

36,483 

Total tax provision

$

52,359 

 

$

36,371 

 

$

47,626 



Summary of Provision (Benefit) for Income Taxes, Statutory Federal Rate Pretax Income Reconciliation



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



Fiscal Years Ended



March 26,

 

March 28,

 

March 29,



2016

 

2015

 

2014

Expected income tax provision at the U.S. federal statutory rate

 

35.0 

 

 

35.0 

 

 

35.0 

Foreign taxes at different rates

 

(0.6)

 

 

7.3 

 

 

0.1 

Research and development tax credits

 

(5.6)

 

 

(3.6)

 

 

(0.9)

Recognition of prior year benefit

 

 -

 

 

 -

 

 

(4.1)

Nondeductible expenses

 

0.1 

 

 

2.3 

 

 

0.5 

Other

 

0.9 

 

 

(1.3)

 

 

 -

Provision for income taxes

 

29.8 

 

 

39.7 

 

 

30.6 



Significant Components of Deferred Tax Assets and Liabilities



 

 

 

 

 



 

 

 

 

 



March 26,

 

March 28,



2016

 

2015

Deferred tax assets:

 

 

 

 

 

Inventory valuation

$

 -

 

$

6,377 

Accrued expenses and allowances

 

3,761 

 

 

4,705 

Net operating loss carryforwards

 

24,592 

 

 

57,878 

Research and development tax credit carryforwards

 

9,649 

 

 

14,567 

State tax credit carryforwards

 

142 

 

 

225 

Capitalized research and development

 

1,160 

 

 

1,793 

Other

 

24,745 

 

 

30,695 

Total deferred tax assets

$

64,049 

 

$

116,240 

Valuation allowance for deferred tax assets

 

(10,773)

 

 

(33,190)

Net deferred tax assets

$

53,276 

 

$

83,050 



 

 

 

 

 

Deferred tax liabilities:

 

 

 

 

 

Depreciation and amortization

$

10,924 

 

$

6,827 

Acquisition intangibles

 

24,527 

 

 

35,242 

Total deferred tax liabilities

$

35,451 

 

$

42,069 

Total net deferred tax assets

$

17,825 

 

$

40,981 



Reconciliation of Unrecognized Tax Benefits



 

 

 

 

 



 

 

 

 

 



March 26,

 

March 28,



2016

 

2015

Beginning balance

$

 -

 

$

 -

Additions based on tax positions related to the current year

 

12,592 

 

 

 -

Additions based on tax positions related to prior years

 

6,204 

 

 

 -

Ending balance

$

18,796 

 

$

 -