Income Taxes (Tables)

12 Months Ended

Dec. 31, 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 2016, 2015 and 2014 (amounts in thousands):

	Fiscal 2016			Fiscal 2015		Fiscal 2014
Current Taxes:
Federal	$	86,235		$	75,128	$	72,780
State		13,983			10,419		10,294
		100,218			85,547		83,074
Deferred Taxes:
Federal		(11,656	)		16,236		7,691
State		(2,801	)		2,057		1,550
		(14,457	)		18,293		9,241
Income tax expense	$	85,761		$	103,840	$	92,315

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 2016, 2015, and 2014 (amounts in thousands):

	Fiscal 2016			Fiscal 2015			Fiscal 2014
Tax at U.S. federal income tax rate	$	87,338		$	102,560		$	93,819
State income taxes, net of federal income tax benefit		7,266			8,556			7,698
Section 199 qualifying production activities benefit		(8,007	)		(6,725	)		(6,892	)
Other		(836	)		(551	)		(2,310	)
Income tax expense	$	85,761		$	103,840		$	92,315

Components of Deferred Tax Assets and (Liabilities)

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

	December 31, 2016			January 2, 2016
Self-insurance	$	7,051		$	6,073
Compensation and employee benefits		13,512			13,632
Deferred income		10,893			10,102
Loss and credit carryforwards		19,556			21,839
Equity-based compensation		11,890			13,676
Hedging		676			6,391
Pension and postretirement benefits		27,537			30,408
Intangible assets		4,548			4,718
Other		16,801			10,409
Deferred tax assets valuation allowance		(18	)		(18	)
Deferred tax assets		112,446			117,230
Depreciation		(75,569	)		(79,667	)
Intangible assets		(179,491	)		(180,216	)
Other		(3,240	)		(3,809	)
Deferred tax liabilities		(258,300	)		(263,692	)
Net deferred tax liability	$	(145,854	)	$	(146,462	)

Reconciliation of Total Amounts of Unrecognized Tax Benefits

The following is a reconciliation of the total amounts of unrecognized tax benefits for fiscal years 2016, 2015 and 2014 (amounts in thousands):

	Fiscal 2016			Fiscal 2015			Fiscal 2014
Unrecognized tax benefit at beginning of fiscal year	$	727		$	2,107		$	4,809
Gross increases		1,488			—			—
Lapses of statutes of limitations		(461	)		(1,380	)		(2,702	)
Unrecognized tax benefit at end of fiscal year	$	1,754		$	727		$	2,107