Taxes (Tables)

12 Months Ended

Mar. 30, 2013

Income (Loss) Before Provision for Income Taxes

Income (loss) before provision for income taxes consisted of the following (in thousands):

	Fiscal Years Ended
	March 30, 2013		March 31, 2012		April 2, 2011
United States	$	538,607	$	227,514	$	134,197
Non-U.S.		88,520		21,302		(978	)
Total income before provision for income taxes	$	627,127	$	248,816	$	133,219

Provision for Income Taxes

The provision for income taxes was as follows (in thousands):

	Fiscal Years Ended
	March 30, 2013			March 31, 2012			April 2, 2011
Current
U.S. Federal	$	179,014		$	79,690		$	30,494
U.S. State		32,249			20,916			11,527
Non-U.S.		15,040			8,575			6,249
Total current		226,303			109,181			48,270
Deferred
U.S. Federal		1,246			(4,128	)		9,950
U.S. State		2,088			(3,595	)		2,057
Non-U.S.		(112	)		(6	)		436
Total deferred		3,222			(7,729	)		12,443
Total provision for income taxes	$	229,525		$	101,452		$	60,713

Significant Differences Between United States Federal Statutory Tax Rate and Company's Effective Tax Rate

The following table summarizes the significant differences between the United States Federal statutory tax rate and the Company’s effective tax rate for financial statement purposes:

	Fiscal Years Ended
	March 30, 2013			March 31, 2012			April 2, 2011
Federal tax at 35% statutory rate		35.0	%		35.0	%		35.0	%
State and local income taxes, net of federal benefit		3.6	%		4.8	%		7.1	%
Differences in tax effects on foreign income		–3.1	%		–1.3	%		1.9	%
Foreign tax credit		–0.2	%		–0.6	%		–1.1	%
Liability for uncertain tax positions		0.5	%		0.2	%		0.3	%
Effect of changes in valuation allowances on deferred tax assets		0.3	%		1.8	%		2.5	%
Other		0.5	%		0.9	%		–0.1	%
		36.6	%		40.8	%		45.6	%

Significant Components of Deferred Tax Assets (Liabilities)

Significant components of the Company’s deferred tax assets (liabilities) consist of the following (in thousands):

	March 30, 2013			March 31, 2012
Deferred tax assets
Inventories	$	8,469		$	5,185
Payroll related accruals		1,188			1,123
Deferred rent		16,209			11,677
Net operating loss carryforwards		8,508			8,142
Stock compensation		8,909			7,777
Deferred revenue		—			3,993
Other		2,331			1,464
		45,614			39,361
Valuation allowance		(8,746	)		(8,233	)
Total deferred tax assets		36,868			31,128
Deferred tax liabilities
Goodwill and intangibles		(14,780	)		(1,222	)
Depreciation		(20,927	)		(20,801	)
Other		(1,455	)		(308	)
Total deferred tax liabilities		(37,162	)		(22,331	)
Net deferred tax (liability) assets	$	(294	)	$	8,797

Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits Excluding Accrued Interest

A reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding accrued interest, for Fiscal 2013 and Fiscal 2012, are presented below (in thousands):

	March 30, 2013			March 31, 2012
Unrecognized tax benefits beginning balance	$	1,758		$	939
Additions related to prior period tax positions		3,318			246
Additions related to current period tax positions		2,482			573
Decreases from prior period positions		(930	)		—
Unrecognized tax benefits ending balance	$	6,628		$	1,758