Income Taxes	6 Months Ended
Jul. 01, 2017
Income Taxes	(2) Income Taxes The provisions for income taxes for both the 2017 and 2016 twenty-six-week periods were based on estimated annual effective income tax rates of 38.2% adjusted for discrete events, such as benefits resulting from disqualifying dispositions of the Company’s common stock by employees who obtained the stock through exercises of incentive stock options. The effective income tax rates for the 2017 and 2016 twenty-six-week periods were 37.3% and 38.0%, respectively, which were higher than the statutory federal income tax rate primarily as a result of state taxes, the meals and entertainment exclusion and non-deductible stock-based compensation. During the first fiscal quarter of 2017, the Company adopted ASU 2016-09, as further described in footnote 10. As required by ASU 2016-09, the Company recognized $751,000 of excess tax benefits on stock-based awards in its provision for income taxes in the twenty-six-week period ended July 1, 2017.

(2) Income Taxes

The provisions for income taxes for both the 2017 and 2016 twenty-six-week periods were based on estimated annual effective income tax rates of 38.2% adjusted for discrete events, such as benefits resulting from disqualifying dispositions of the Company’s common stock by employees who obtained the stock through exercises of incentive stock options. The effective income tax rates for the 2017 and 2016 twenty-six-week periods were 37.3% and 38.0%, respectively, which were higher than the statutory federal income tax rate primarily as a result of state taxes, the meals and entertainment exclusion and non-deductible stock-based compensation.

During the first fiscal quarter of 2017, the Company adopted ASU 2016-09, as further described in footnote 10. As required by ASU 2016-09, the Company recognized $751,000 of excess tax benefits on stock-based awards in its provision for income taxes in the twenty-six-week period ended July 1, 2017.