Income Taxes (Tables)

12 Months Ended

Dec. 26, 2015

Income Tax Disclosure [Abstract]

Components of Income Tax Provision (Benefit)

The components of the income tax provision (benefit) are as follows:

(in thousands)	2015			2014			2013
Current:
Federal	$	55,140		$	48,293		$	42,458
State		3,578			2,882			3,105
		58,718			51,175			45,563
Deferred:
Federal		(4,874	)		(597	)		249
State		(232	)		(35	)		18
		(5,106	)		(632	)		267
Total	$	53,612		$	50,543		$	45,830

Reconciliation of Income Taxes at Statutory Tax Rate to Company's Effective Tax Rate

The following is a reconciliation of income taxes at the statutory tax rate to the Company’s effective tax rate:

	2015			2014			2013
Federal taxes at statutory rate		35.0	%		35.0	%		35.0	%
State taxes, net of federal tax benefit		1.8			1.2			1.6
Research and development tax credit		(0.2	)		(0.4	)		(0.7	)
Other		0.1			0.2			—
Effective tax rate		36.7	%		36.0	%		35.9	%

Change in Uncertain Tax Benefits

The following table summarizes the change in uncertain tax benefits for the three years ended December 26, 2015:

(in thousands)	2015			2014			2013
Balance at beginning of year	$	1,163		$	1,201		$	1,785
Reductions due to lapses in statutes of limitations		—			(301	)		(30	)
Reductions due to tax positions settled		(177	)		—			(271	)
Reductions due to reversals of prior year positions		(20	)		(38	)		(736	)
Additions based on tax positions taken during the current period		889			301			453
Balance at end of year	$	1,855		$	1,163		$	1,201

Reconciliation of Deferred Tax Assets and Liabilities

Deferred income taxes result from timing differences in the recognition of revenue and expense for tax and financial statement purposes. The sources of temporary differences are as follows:

(in thousands)	December 26, 2015		December 27, 2014
Assets:
Inventories	$	8,685	$	7,989
Accounts receivable		18,954		15,652
Accrued expenses		2,435		1,780
Other		214		197
Gross deferred tax assets		30,288		25,618
Liabilities:
Depreciation		13,207		13,406
Goodwill and intangible assets		9,524		9,761
Gross deferred tax liabilities		22,731		23,167
Net deferred tax assets	$	7,557	$	2,451