Annual report pursuant to Section 13 and 15(d)

Note 15 - Income Taxes (Tables)

v3.7.0.1
Note 15 - Income Taxes (Tables)
12 Months Ended
Dec. 25, 2016
Notes Tables  
Schedule of Consolidated Income Tax Expense [Table Text Block]
 
 
2016
 
 
2015
 
 
2014
 
Income from continuing operations
  $
15,660
    $
14,168
    $
11,830
 
Loss from discontinued operations
   
(186
)    
(869
)    
(7,472
)
Total consolidated income tax expense
  $
15,474
    $
13,299
    $
4,358
 
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
 
 
Current
 
 
Deferred
 
 
Total
 
Year ended December 25, 2016
                       
U.S. Federal
  $
3,987
    $
8,165
    $
12,152
 
State
   
1,951
     
1,231
     
3,182
 
Foreign
   
326
     
-
     
326
 
    $
6,264
    $
9,396
    $
15,660
 
                         
Year ended December 27, 2015
                       
U.S. Federal
  $
14,692
    $
(3,445
)   $
11,247
 
State
   
2,697
     
(120
)    
2,577
 
Foreign
   
344
     
-
     
344
 
    $
17,733
    $
(3,565
)   $
14,168
 
                         
Year ended December 28, 2014
                       
U.S. Federal
  $
3,475
    $
6,447
    $
9,922
 
State
   
562
     
961
     
1,523
 
Foreign
   
385
     
-
     
385
 
    $
4,422
    $
7,408
    $
11,830
 
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
 
 
2016
 
 
2015
 
 
2014
 
                         
Income tax expense at statutory rates
  $
16,245
    $
15,517
    $
13,489
 
Increase (decrease) in income taxes resulting from:
                       
State income taxes, net of federal benefit
   
2,193
     
1,787
     
1,609
 
Federal FICA tip credit net benefit
   
(3,179
)    
(3,124
)    
(2,814
)
Other
   
401
     
(12
)    
(454
)
    $
15,660
    $
14,168
    $
11,830
 
                         
Effective tax rate
   
33.7
%    
32.0
%    
30.7
%
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
 
 
2016
 
 
2015
 
Deferred tax assets:                
Accounts payable and accrued expenses
  $
8,699
    $
8,222
 
Deferred rent
   
8,953
     
8,655
 
Net state operating loss carryforwards
   
2,317
     
3,281
 
Tax credit carryforwards
   
1,889
     
9,339
 
Property and equipment
   
4,080
     
5,098
 
Other
   
199
     
209
 
Total gross deferred tax assets
   
26,137
     
34,804
 
Less valuation allowance
   
(762
)    
(979
)
Net deferred tax assets
   
25,375
     
33,825
 
Deferred tax liabilities:
               
Intangible assets
   
(15,451
)    
(14,516
)
Total gross deferred tax liabilities
   
(15,451
)    
(14,516
)
Net deferred tax assets
  $
9,924
    $
19,309
 
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]
Unrecognized tax benefits balance at December 27, 2015
  $
607
 
Gross increases for tax positions of prior years
   
91
 
Reductions due to settlements with taxing authorities
   
(108
)
Reductions to tax positions due to statute expiration
   
(11
)
Unrecognized tax benefits balance at December 25, 2016
  $
579
 
Discontinued Operations [Member]  
Notes Tables  
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
 
 
2016
 
 
2015
 
 
2014
 
Income tax benefit at statutory rates
  $
(167
)   $
(361
)   $
(6,204
)
Increase (decrease) in income taxes resulting from:
                       
State income taxes at state statutory rate, net of federal impact
   
(19
)    
(411
)    
(701
)
Other, primarily federal FICA tip credit net benefit
   
-
     
(97
)    
(567
)
    $
(186
)   $
(869
)   $
(7,472
)
Effective tax rate
   
39.0
%    
84.3
%    
42.2
%