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Income Taxes (Tables)
12 Months Ended
Mar. 25, 2017
Income Taxes [Abstract]  
Components of the provision for income taxes



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

Year Ended Fiscal March

 

 

2017

 

2016

 

2015

 

 

(Dollars in thousands)

Current -

 

 

 

 

 

 

 

 

 

Federal

 

$

22,040 

 

$

29,202 

 

$

28,262 

State

 

 

2,422 

 

 

2,825 

 

 

2,956 

 

 

 

24,462 

 

 

32,027 

 

 

31,218 

Deferred -

 

 

 

 

 

 

 

 

 

Federal

 

 

10,120 

 

 

6,216 

 

 

6,194 

State

 

 

1,136 

 

 

373 

 

 

144 

 

 

 

11,256 

 

 

6,589 

 

 

6,338 

Total

 

$

35,718 

 

$

38,616 

 

$

37,556 



Deferred tax (liabilities) assets



 

 

 

 

 

 



 

 

 

 

 

 

 

 

March 25,

 

March 26,

 

 

2017

 

2016

 

 

(Dollars in thousands)

Goodwill

 

$

(39,715)

 

$

(31,075)

Other

 

 

(968)

 

 

(266)

Total deferred tax liabilities

 

 

(40,683)

 

 

(31,341)

Property and equipment

 

 

36,980 

 

 

28,085 

Insurance reserves

 

 

11,075 

 

 

11,626 

Warranty and other reserves

 

 

4,810 

 

 

4,671 

Stock options

 

 

2,509 

 

 

3,040 

Other

 

 

9,354 

 

 

9,274 

Total deferred tax assets

 

 

64,728 

 

 

56,696 

Net deferred tax assets

 

$

24,045 

 

$

25,355 



Reconciliation between Federal statutory tax rate and effective tax rate reflected in accompanying financial statements



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended Fiscal March

 

 

2017

 

2016

 

2015

 

 

Amount

 

Percent

 

Amount

 

Percent

 

Amount

 

Percent

 

 

(Dollars in thousands)

Federal income tax based on
     statutory tax rate applied
     to income before taxes

 

$

34,035 

 

35.0 

 

$

36,897 

 

35.0 

 

$

34,774 

 

35.0 

State income tax, net of
     federal income tax benefit

 

 

2,700 

 

2.8 

 

 

2,306 

 

2.2 

 

 

2,170 

 

2.2 

Other

 

 

(1,017)

 

(1.1)

 

 

(587)

 

(0.6)

 

 

612 

 

0.6 

 

 

$

35,718 

 

36.7 

 

$

38,616 

 

36.6 

 

$

37,556 

 

37.8 



Income taxes associated with unrecognized tax benefits



 

 

 



 

 

 



 

Dollars in thousands

Balance at March 29, 2014

 

$

5,900 

Tax positions related to current year:

 

 

 

Additions

 

 

2,066 

Reductions

 

 

 

Tax positions related to prior years:

 

 

 

Additions

 

 

164 

Reductions

 

 

33 

Settlements

 

 

 

Lapses in statutes of limitations

 

 

(668)

Balance at March 28, 2015

 

 

7,495 

Tax positions related to current year:

 

 

 

Additions

 

 

1,116 

Reductions

 

 

 

Tax positions related to prior years:

 

 

 

Additions

 

 

 

Reductions

 

 

(922)

Settlements

 

 

 

Lapses in statutes of limitations

 

 

(760)

Balance at March 26, 2016

 

 

6,929 

Tax positions related to current year:

 

 

 

Additions

 

 

981 

Reductions

 

 

 

Tax positions related to prior years:

 

 

 

Additions

 

 

66 

Reductions

 

 

(352)

Settlements

 

 

 

Lapses in statutes of limitations

 

 

(732)

Balance at March 25, 2017

 

$

6,892