Income Taxes

Income tax expense (benefit) consisted of the following:



	Fiscal year ended
	June 3, 2017			May 28, 2016		May 30, 2015
Current:
Federal	$	(48,030	)	$	132,250	$	70,900
State	(6,670		)	17,560		8,260
	(54,700		)	149,810		79,160
Deferred:
Federal	13,076			17,096		4,503
State	1,757			2,296		605
	14,833			19,392		5,108
	$	(39,867	)	$	169,202	$	84,268

Significant components of the Company’s deferred tax liabilities and assets were as follows:



	June 3, 2017		May 28, 2016
Deferred tax liabilities:
Property, plant and equipment	$	68,830	$	60,998
Inventories	38,270		39,068
Investment in affiliates	8,563		1,438
Other comprehensive income	290		223
Other	4,656		4,343
Total deferred tax liabilities	120,609		106,070

Deferred tax assets:
Accrued expenses	4,308		3,374
Other	6,019		7,314
Total deferred tax assets	10,327		10,688
Net deferred tax liabilities	$	110,282	$	95,382

The differences between income tax expense (benefit) at the Company’s effective income tax rate and income tax expense at the statutory federal income tax rate were as follows:

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	Fiscal year end
	June 3, 2017			May 28, 2016			May 30, 2015

Statutory federal income tax (benefit)	$	(39,950	)	$	169,835		$	85,933
State income tax (benefit)	(3,193		)	12,906			5,762
Domestic manufacturers deduction	4,095			(13,332		)	(7,308		)
Tax exempt interest income	(206		)	(233		)	(184		)
Other, net	(613		)	26			65
	$	(39,867	)	$	169,202		$	84,268

We had no significant unrecognized tax benefits at June 3, 2017 or at May 28, 2016. Accordingly, we do not have any accrued interest or penalties related to uncertain tax positions. However, if interest or penalties were to be incurred related to uncertain tax positions, such amounts would be recognized in income tax expense.

We are under a limited scope audit by the IRS for the fiscal years 2013 through 2015. We are subject to income tax in many jurisdictions within the U.S., and certain jurisdictions are under audit by state and local tax authorities. The resolutions of these audits are not expected to be material to our consolidated financial statements. Tax periods for all years after fiscal year 2013 remain open to examination by the federal and state taxing jurisdictions to which we are subject.