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Income Taxes
3 Months Ended
Jun. 29, 2013
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
The Company's provision for income taxes for the three-months ended June 30, 2013 was $4,508, an effective tax rate of 39.5% on income before provision for income taxes of $11,413, compared to a provision for income taxes for the three-months ended June 30, 2012 of $3,637, an effective tax rate of 38.0% on income before provision for income taxes of $9,569. The effective tax rate increase from 38.0% to 39.5% was primarily due to the write-off of certain deferred tax assets related to equity awards and the mix of world-wide income taxed at different rates. The effective tax rate for the three-months ended June 30, 2013 of 39.5% differs from the federal statutory rate primarily due to state income taxes and the write-off of certain deferred tax assets related to equity awards partially offset by foreign earnings taxed at a lower statutory rates.
The Company provides for income taxes at the end of each interim period based on the estimated effective tax rate adjusted for certain discrete items for the full fiscal year. Cumulative adjustments to the Company's estimate are recorded in the interim period in which a change in the estimated annual effective rate is determined.
During the three-months ended December 31, 2012, the IRS commenced an examination of the Company's U.S. federal income tax return for Fiscal 2011. The IRS has not yet proposed any adjustment to the Company's filing positions in connection with this examination. Upon completion of this examination, it is reasonably possible that the total amount of unrecognized benefits will change. Any adjustment to the unrecognized tax benefits would impact the effective tax rate. The Company cannot make an estimate of the impact on the effective rate for any potential adjustment at this time.
Fiscal 2013 and Fiscal 2012 remain open to examination by the IRS and Fiscal 2009 through Fiscal 2013 remain open to examination by certain state and foreign taxing jurisdictions.