Income Taxes (Tables)

12 Months Ended

Dec. 25, 2011

Schedule of Summary of Provision (Benefit) for Income Taxes

A summary of the provision for income taxes follows (in thousands):

	2011		2010		2009
Current:
Federal	$	14,383	$	19,049	$	18,551
Foreign		1,273		1,171		904
State and local *		850		2,083		2,061
Deferred (federal and state)		10,382		4,553		7,469
Total	$	26,888	$	26,856	$	28,985

* The decrease in state and local tax expense is due to the lapse of statute of limitations and a reduction in the state effective tax rate.

Schedule of Significant Deferred Tax Assets (Liabilities)

Significant deferred tax assets (liabilities) follow (in thousands):

	2011			2010
Unearned development fees	$	2,249		$	2,392
Accrued liabilities		14,897			14,647
Other assets and liabilities		7,294			10,920
Stock options		5,091			6,291
Other		-			144
Foreign net operating losses		7,474			8,123
Valuation allowance on foreign net
operating losses		(7,474	)		(8,123	)
Total deferred tax assets		29,531			34,394
Deferred expenses		(3,497	)		(2,497	)
Accelerated depreciation		(13,477	)		(10,192	)
Goodwill		(10,426	)		(8,506	)
Other		(3,642	)		(3,893	)
Total deferred tax liabilities		(31,042	)		(25,088	)
Net deferred tax (liability) asset	$	(1,511	)	$	9,306

Schedule of Reconciliation of Income Tax Computed at the U.S. Federal Statutory Rate to Income Tax Expense

The reconciliation of income tax computed at the U.S. federal statutory rate to income tax expense for the years ended December 25, 2011, December 26, 2010 and December 27, 2009 is as follows in both dollars and as a percentage of income before income taxes ($ in thousands):

	2011						2010						2009
	Income Tax Expense			Income Tax Rate			Income Tax Expense			Income Tax Rate			Income Tax Expense			Income Tax Rate
Tax at U.S. federal statutory rate	$	30,197			35.0	%	$	28,798			35.0	%	$	31,568			35.0	%
State and local income taxes		1,702			2.0	%		1,896			2.3	%		2,037			2.2	%
Foreign income taxes		1,273			1.5	%		1,171			1.4	%		904			1.0	%
Settlement of certain tax issues		(1,912	)		(2.2	%)		(550	)		(0.7	%)		(1,238	)		(1.4	%)
Income of consolidated partnerships
attributable to noncontrolling interests		(1,379	)		(1.6	%)		(1,297	)		(1.6	%)		(1,397	)		(1.5	%)
Non-qualified deferred compensation
plan loss (income)		153			0.2	%		(434	)		(0.5	%)		(803	)		(0.9	%)
Tax credits and other		(3,146	)		(3.7	%)		(2,728	)		(3.3	%)		(2,086	)		(2.3	%)
Total	$	26,888			31.2	%	$	26,856			32.6	%	$	28,985			32.1	%

Schedule of Reconciliation of the Beginning and Ending Liability for Unrecognized Tax Benefits

A reconciliation of the beginning and ending liability for unrecognized state tax benefits is as follows (in thousands):

Balance at December 27, 2009	$	3,595
Reductions for lapse of statute of limitations		(264	)
Balance at December 26, 2010		3,331
Reductions for tax positions of prior years		(95	)
Reductions for lapse of statute of limitations		(248	)
Balance at December 25, 2011	$	2,988