Income Taxes (Tables)

12 Months Ended

Dec. 26, 2015

Components of income before income taxes

The components of income before income taxes were taxed under the following jurisdictions:

(In thousands)	2015		2014		2013

Domestic	$	121,614	$	135,445	$	262,220
Foreign		10,175		12,568		9,178

Income before income taxes	$	131,789	$	148,013	$	271,398

Components of income tax expense

Income tax expense consists of the following:

(In thousands)	2015			2014			2013

Current tax expense:
Federal	$	50,272		$	45,723		$	69,565
Foreign		4,042			2,346			2,608
State and local		4,886			3,905			6,723

Current tax expense		59,200			51,974			78,896

Deferred tax (benefit) expense:
Federal		(13,739	)		(2,469	)		17,694
Foreign		(1,180	)		890			(376	)
State and local		(899	)		(4,916	)		1,895

Deferred tax (benefit) expense		(15,818	)		(6,495	)		19,213

Income tax expense	$	43,382		$	45,479		$	98,109

Income tax reconciliation

The difference between the reported income tax expense and a tax determined by applying the applicable U.S. federal statutory income tax rate to income before income taxes is reconciled as follows:

(In thousands)	2015			2014			2013

Expected income tax expense	$	46,126		$	51,805		$	94,989
State and local income tax, net of federal benefit		2,673			3,355			6,405
Effect of foreign statutory rate different from U.S. and other foreign adjustments		(654	)		(1,094	)		(1,026	)
Valuation allowance changes		—			(5,732	)		—
U.S. production activities deduction		(3,500	)		(4,025	)		(4,445	)
Goodwill disposition		646			—			1,790
Tax contingency changes		—			—			(140	)
Permanent adjustment to deferred tax liabilities		(4,218	)		—			—
Other, net		2,309			1,170			536

Income tax expense	$	43,382		$	45,479		$	98,109

Components of deferred tax assets and liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below:

(In thousands)	2015			2014

Deferred tax assets:
Inventories	$	14,802		$	12,815
Other postretirement benefits and accrued items		15,294			14,550
Pension		2,349			4,792
Other reserves		9,823			10,262
Federal and foreign tax attributes		7,403			6,451
State tax attributes, net of federal benefit		21,716			22,928
Share-based compensation		3,397			3,016

Total deferred tax assets		74,784			74,814
Less valuation allowance		(17,650	)		(17,119	)

Deferred tax assets, net of valuation allowance		57,134			57,695

Deferred tax liabilities:
Property, plant, and equipment		43,592			57,089
Other		1,546			1,721

Total deferred tax liabilities		45,138			58,810

Net deferred tax asset (liability)	$	11,996		$	(1,115	)