Income Taxes (Tables)

12 Months Ended

Mar. 30, 2019

Components of the provision for income taxes



	Year Ended Fiscal March
	2019		2018			2017
	(Dollars in thousands)
Current -
Federal	$	5,682	$	20,854		$	22,040
State		2,409		3,180			2,422
		8,091		24,034			24,462
Deferred -
Federal		11,563		15,153			10,120
State		954		332			1,136
		12,517		15,485	(a)		11,256
Total	$	20,608	$	39,519		$	35,718

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(a)

For fiscal 2018, includes $4.7 million related to the Tax Cuts and Jobs Act of 2017 (“Tax Act”).

Deferred tax (liabilities) assets



	March 30,		March 31,
	2019		2018
	(Dollars in thousands)
Goodwill	$	(39,020)	$	(32,290)
Other		(429)		(645)
Total deferred tax liabilities		(39,449)		(32,935)
Property and equipment		19,723		25,056
Insurance reserves		9,071		6,769
Warranty and other reserves		3,360		2,978
Loss carryforwards		2,507		1,963
Other		6,954		7,644
Total deferred tax assets		41,615		44,410
Net deferred tax assets	$	2,166	$	11,475

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



	Year Ended Fiscal March
	2019			2018			2017
	Amount		Percent	Amount		Percent	Amount		Percent
	(Dollars in thousands)
Federal income tax based on statutory tax rate applied to income before taxes (a)	$	21,076	21.0	$	32,692	31.6	$	34,035	35.0
State income tax, net of federal income tax benefit		2,767	2.8		2,218	2.1		2,700	2.8
Tax Act (b)		—	—		4,707	4.5		—	—
Tax settlements and adjustments		(1,864)	(1.9)		—	—		—	—
Other		(1,371)	(1.4)		(98)	—		(1,017)	(1.1)
	$	20,608	20.5	$	39,519	38.2	$	35,718	36.7

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(a)

For fiscal 2018, represents the blended rate of 35% for 9/12 of the year and 21% for 3/12 of the year.

(b)

Represents the net discrete adjustment to income tax expense primarily from the remeasurement of our net deferred tax assets at the lower U.S. corporate income tax rate.

Income taxes associated with unrecognized tax benefits



	Dollars in thousands
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
Tax positions related to current year:
Additions		447
Reductions		—
Tax positions related to prior years:
Additions		—
Reductions		(342)
Settlements		—
Lapses in statutes of limitations		(788)
Balance at March 31, 2018		6,209
Tax positions related to current year:
Additions		1,178
Reductions		—
Tax positions related to prior years:
Additions		166
Reductions		(6)
Settlements		—
Lapses in statutes of limitations		(1,123)
Balance at March 30, 2019	$	6,424