Income Taxes (Tables)

12 Months Ended

Jan. 02, 2016

Income Tax Disclosure [Abstract]

Components of Income Tax Expense

The company’s provision for income tax expense consists of the following for fiscal years 2015, 2014 and 2013:

	Fiscal 2015		Fiscal 2014		Fiscal 2013
	(Amounts in thousands)
Current Taxes:
Federal	$	75,128	$	72,780	$	73,669
State		10,419		10,294		11,325
		85,547		83,074		84,994
Deferred Taxes:
Federal		16,236		7,691		7,970
State		2,057		1,550		(1,485	)
		18,293		9,241		6,485
Income tax expense	$	103,840	$	92,315	$	91,479

Reconciliation of Effective Tax Amount

Income tax expense differs from the amount computed by applying the U.S. federal income tax rate (35%) because of the effect of the following items for fiscal years 2015, 2014, and 2013:

	Fiscal 2015			Fiscal 2014			Fiscal 2013
	(Amounts in thousands)
Tax at U.S. federal income tax rate	$	102,560		$	93,819		$	112,831
State income taxes, net of federal income tax benefit		8,556			7,698			6,396
Section 199 qualifying production activities benefit		(6,725	)		(6,892	)		(7,022	)
Bargain purchase		—			—			(17,524	)
Other		(551	)		(2,310	)		(3,202	)
Income tax expense	$	103,840		$	92,315		$	91,479

Components of Deferred Tax Assets and (Liabilities)

Deferred tax assets (liabilities) are comprised of the following:

	January 2, 2016			January 3, 2015
	(Amounts in thousands)
Self-insurance	$	6,073		$	6,294
Compensation and employee benefits		13,632			12,898
Deferred income		10,102			9,896
Loss and credit carryforwards		21,839			21,421
Equity-based compensation		13,676			15,597
Hedging		6,391			7,153
Pension		23,981			30,160
Postretirement benefits		6,427			6,796
Intangible assets		4,718			4,763
Other		10,409			10,674
Deferred tax assets valuation allowance		(18	)		(2,534	)
Deferred tax assets		117,230			123,118
Depreciation		(79,667	)		(79,480	)
Intangible assets		(180,216	)		(107,188	)
Other		(3,809	)		(3,780	)
Deferred tax liabilities		(263,692	)		(190,448	)
Net deferred tax liability	$	(146,462	)	$	(67,330	)

Reconciliation of Total Amounts of Unrecognized Tax Benefits

The following is a reconciliation of the total amounts of unrecognized tax benefits for fiscal years 2015, 2014 and 2013:

	Fiscal 2015			Fiscal 2014			Fiscal 2013
	(Amounts in thousands)
Unrecognized tax benefit at beginning of fiscal year	$	2,107		$	4,809		$	7,304
Gross increases — acquisitions		—			—			500
Lapses of statutes of limitations		(1,380	)		(2,702	)		(2,995	)
Unrecognized tax benefit at end of fiscal year	$	727		$	2,107		$	4,809