Income Taxes (Tables)

12 Months Ended

Dec. 30, 2017

Significant Components of Provisions for Income Taxes

Significant components of the provision for income taxes are as follows:

	2017			2016		2015
	(in thousands)
Current:
Federal	$	34,255		$	35,390	$	42,391
State		5,225			6,108		7,403
Total current		39,480			41,498		49,794
Deferred:
Federal		(22,489	)		7,666		6,279
State		102			608		523
Total deferred		(22,387	)		8,274		6,802
Total provision for income taxes	$	17,093		$	49,772	$	56,596

Reconciliations to Statutory Rates

The Company’s reconciliations to statutory rates are as follows:

	2017			2016			2015
Statutory rate		35.0	%		35.0	%		35.0	%
State income taxes, net of federal benefit		3.6			3.6			3.4
Deduction relating to U.S. production activities		(3.2	)		(2.6	)		(2.7	)
Deduction relating to excess stock benefits		(3.7	)		—			—
Change relating to enacted Tax Cuts and Jobs Act		(17.5	)		—			—
Change in valuation allowance		—			(0.3	)		—
Other		0.5			0.6			0.8
		14.7	%		36.3	%		36.5	%

Significant Components of Company's Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows at:

	December 30,			December 31,
	2017			2016
	(in thousands)
Deferred tax assets:
Accrued expenses	$	2,484		$	6,488
Stock-based compensation expense		4,175			5,929
Inventory		435			1,117
Other		2,598			4,097
Total deferred tax assets		9,692			17,631
Valuation allowance		(439	)		(669	)
Total deferred tax assets net of valuation allowance		9,253			16,962
Deferred tax liabilities:
Property, plant and equipment		(42,076	)		(72,140	)
Prepaid expenses		(1,341	)		(1,204	)
Goodwill		(655	)		(879	)
Total deferred tax liabilities		(44,072	)		(74,223	)
Net deferred tax liabilities	$	(34,819	)	$	(57,261	)

Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2017			2016
	(in thousands)
Balance at beginning of year	$	589		$	486
Increases related to current year tax positions		64			80
(Decreases) Increases related to prior year tax positions		(259	)		76
Decreases related to settlements		(62	)		(50	)
Decreases related to lapse of statute of limitations		(40	)		(3	)
Balance at end of year	$	292		$	589