Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Taxes

Summary of the Provision for Income Taxes

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

	2017		2016		2015
Current:
Federal	$	28,951	$	32,477	$	36,077
Foreign		4,602		2,669		4,183
State and local		(234)		2,947		3,169
Deferred		498		11,624		(6,246)
Total	$	33,817	$	49,717	$	37,183

Schedule of Significant Deferred Tax Assets (Liabilities)

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

	December 31,		December 25,
	2017		2016
Accrued liabilities	$	11,378	$	14,479
Accrued bonuses		192		5,399
Other assets and liabilities		7,913		12,434
Equity awards		5,690		7,704
Other		2,178		3,716
Foreign net operating losses		2,773		3,418
Foreign tax credit carryforwards		4,707		2,347
Total deferred tax assets		34,831		49,497
Valuation allowance on foreign net operating and capital losses, foreign deferred tax assets, and foreign tax credit carryforwards		(7,415)		(5,462)
Total deferred tax assets, net of valuation allowances		27,416		44,035
Deferred expenses		(6,912)		(9,544)
Accelerated depreciation		(19,228)		(25,072)
Goodwill		(12,248)		(18,480)
Other		(989)		(217)
Total deferred tax liabilities		(39,377)		(53,313)
Net deferred liability	$	(11,961)	$	(9,278)

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 31, 2017, December 25, 2016 and December 27, 2015 is as follows in both dollars and as a percentage of income before income taxes ($ in thousands):

	2017				2016				2015
	Income Tax		Income		Income Tax		Income		Income Tax		Income
	Expense		Tax Rate		Expense		Tax Rate		Expense		Tax Rate
Tax at U.S. federal statutory rate	$	49,120	35.0	%	$	55,583	35.0	%	$	41,702	35.0	%
State and local income taxes		2,432	1.7	%		2,972	1.9	%		2,106	1.8	%
Foreign income taxes		5,306	3.8	%		3,143	2.0	%		2,432	2.0	%
Income of consolidated partnerships
attributable to noncontrolling interests		(1,554)	(1.1)	%		(2,312)	(1.4)	%		(2,311)	(1.9)	%
Non-qualified deferred compensation plan
(income) loss		(1,236)	(0.9)	%		(428)	(0.3)	%		218	0.2	%
Excess tax benefits on equity awards		(1,879)	(1.4)	%		—	—	%		—	—	%
Remeasurement of deferred taxes		(7,020)	(5.0)	%		—	—	%		—	—	%
Tax credits		(6,909)	(4.9)	%		(6,771)	(4.3)	%		(4,846)	(4.1)	%
Other		(4,443)	(3.1)	%		(2,470)	(1.6)	%		(2,118)	(1.8)	%
Total	$	33,817	24.1	%	$	49,717	31.3	%	$	37,183	31.2	%

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

The Company had $2.0 million of unrecognized tax benefits at December 31, 2017 which, if recognized, would affect the effective tax rate. A reconciliation of the beginning and ending liability for unrecognized tax benefits excluding interest and penalties is as follows, which is recorded as an other long-term liability (in thousands):

Balance at December 27, 2015	$	5,670
Additions for tax positions of current year		126
Additions for tax positions of prior years		183
Reductions for lapse of statute of limitations		(1,152)
Balance at December 25, 2016		4,827
Additions for tax positions of current year		134
Reductions for tax positions of prior years		(2,862)
Reductions for lapse of statute of limitations		(71)
Balance at December 31, 2017	$	2,028