XML 91 R41.htm IDEA: XBRL DOCUMENT v2.4.0.6
Income Taxes (Tables)
12 Months Ended
Mar. 30, 2012
Income Tax Disclosure [Abstract]  
Schedule of Provision for Income Taxes [Table Text Block]
(in thousands)2012 2011 2010
Current tax provision:        
 Federal$ 37,341 $ 36,384 $ 42,919
 State  5,006   4,926   6,112
  Total current provision  42,347   41,310   49,031
           
Deferred tax (benefit) provision:        
 Federal  (1,132)   2,863   (7,234)
 State  (152)   388   (1,030)
  Total deferred (benefit) provision   (1,284)   3,251   (8,264)
  Total income tax provision$ 41,063 $ 44,561 $ 40,767
Schedule of Income Tax Expense [Table Text Block]
(in thousands)2012 2011 2010
Tax expense per Consolidated Statements of Operations$ 41,063 $ 44,561 $ 40,767
Other comprehensive income:        
 Unrealized holding gains on equity securities        
  recognized for financial reporting purposes  -   -   (1,342)
 Unrealized losses on interest rate swap        
  recognized for financial reporting purposes  -   -   339
Total income tax expense (benefit) allocated to         
 other comprehensive income  -   -   (1,003)
Benefit for compensation expense for tax purposes        
  in excess of amounts recognized for financial         
 reporting purposes  (2,057)   (3,273)   (2,516)
Total income tax expense$ 39,006 $ 41,288 $ 37,248
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
(in thousands)2012 2011 2010
Income before provision for income taxes$ 115,465 $ 119,225 $ 110,130
Tax provision at the 35% statutory rate  40,413   41,729   38,546
Increase (decrease) in taxes:        
 State income tax, net of federal benefit  3,155   3,454   3,304
 Indefinitely invested earnings of foreign subsidiaries  (3,241)   (1,289)   (1,433)
 Other, net  736   667   350
  Total increase in taxes  650   2,832   2,221
  Total income tax provision$ 41,063 $ 44,561 $ 40,767
Effective tax rate 35.6%  37.4%  37.0%
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
(in thousands)2012 2011
Deferred tax assets:     
 Deferred compensation$ 35,224 $ 31,649
 Original issue discount on 2008 Notes  9,653   13,197
 Net operating loss and tax credit carryforwards  10,591   4,722
 Allowance for doubtful accounts and sales returns  9,319   7,418
 Accrued expenses and incentive compensation  3,313   8,927
 Inventory uniform cost capitalization  4,171   3,725
 Inventory obsolescence  2,693   2,305
 Other   618   733
  Gross deferred tax assets  75,582   72,676
Deferred tax liabilities:     
 Excess of tax depreciation over book depreciation  (23,762)   (25,548)
 Interest on 2004 Notes  (17,303)   (17,316)
 Discount on 2008 Notes related to ASC 470-20  (9,362)   (12,822)
 Excess of tax amortization over book amortization  (15,000)   (11,043)
 Other  (998)   (703)
  Gross deferred tax liabilities  (66,425)   (67,432)
Deferred tax assets, net$ 9,157 $ 5,244
Unrecognized Tax Benefits Reconciliation [Table Text Block]
Unrecognized Tax Benefits as of April 2, 2010$ 1,466
 Gross Increases for tax positions of prior years  295
 Lapse of Statute of Limitations  (284)
Unrecognized Tax Benefits as of April 1, 2011  1,477
 Gross Increases for tax positions of prior years  342
 Lapse of Statute of Limitations  (375)
Unrecognized Tax Benefits as of March 30, 2012$ 1,444