Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Components of Income Tax Provision

The components of our income tax provision are as follows:

	For the years ended December 31,
	2017			2016			2015
	(in thousands)
Current provision:
Federal	$	(1,653	)	$	4,467		$	1,933
State		2,282			7,070			3,442
Foreign		99			88			78
Total current		728			11,625			5,453
Deferred provision:
Federal		(114,140	)		(5,148	)		17,765
State		1,856			(5,984	)		(731	)
Total deferred		(112,284	)		(11,132	)		17,034
Total income tax (benefit) expense	$	(111,556	)	$	493		$	22,487

Significant Components of Deferred Tax Assets and Liabilities

The significant components of the deferred tax assets and liabilities as of December 31, 2017 and 2016 are as follows:

	December 31,
	2017			2016
	(in thousands)
Deferred Tax Assets
Net Operating Losses	$	5,512		$	9,145
Insurance Accruals		5,747			12,084
Tax Credits		9,416			8,623
Cash Flow Hedge-OCI		246			3,431
Intangibles		6,429			10,794
Doubtful Accounts		921			1,528
Compensation Accruals		9,313			9,481
Other		1,321			2,310
Total gross deferred tax assets		38,905			57,396
Less: Valuation Allowance		(5,470	)		(9,116	)
Deferred Tax Assets	$	33,435		$	48,280
Deferred Tax Liabilities
Fixed Assets	$	219,611		$	318,986
Trademark		40,398			61,823
Returns Club		941			—
Cancellation of Debt Income		2,199			6,192
Linens, uniforms and supplies		3,532			3,959
Other		519			348
Deferred Tax Liabilities		267,200			391,308
Net Deferred Taxes	$	(233,765	)	$	(343,028	)

Reconciliation of Statutory Federal Income Tax Rate to Effective Tax Rate

The following is a reconciliation of the statutory federal income tax rate to the effective tax rate reported in the consolidated financial statements:

	For the years ended December 31,
	2017			2016			2015
	(in thousands)
Statutory U.S. federal income tax provision	$	14,200		$	(214	)	$	17,219
State tax, net of federal benefit		2,497			1,052			2,221
Foreign tax, net of federal benefit		99			88			50
Nondeductible stock compensation		(264	)		—			1,948
Nondeductible restructuring costs		5,350			—			—
Permanent items		412			389			800
Tax credits		(1,123	)		(548	)		(84	)
Unrecognized tax benefit		301			174			—
Change in valuation allowance		(3,647	)		95			353
Return to provision		(952	)		(351	)		(688	)
Changes in deferred taxes		—			(169	)		541
Effects of the Tax Cuts and Jobs Acts		(128,429	)		—			—
Other		—			(23	)		127
Income tax expense	$	(111,556	)	$	493		$	22,487

Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

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

	For the years ended December 31,
	2017		2016		2015
	(in thousands)
Unrecognized tax benefits, beginning of the year	$	2,990	$	2,990	$	—
Gross increase in unrecognized tax positions in the current year		—		—		2,990
Unrecognized tax benefits, end of the year	$	2,990	$	2,990	$	2,990