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Income Taxes (Tables)

12 Months Ended

Dec. 27, 2013

Schedule of breakdown of income tax expense between current and deferred

The breakdown of income tax expense between current and deferred is as follows:



	Fiscal Years
(Dollars in Millions)	2013		2012 ^(a)		2011 ^(a)
Current:
Federal	$	671	$	450	$	370
State	87		66		107
Subtotal Current	758		516		477

Deferred:
Federal	285		530		614
State	15		62		(5		)
Subtotal Deferred	300		592		609
Total	$	1,058	$	1,108	$	1,086

(a) See the revision of prior period financial statements in Note 1. Nature of Operations and Significant Accounting Policies.

Schedule of income tax expense reconciled to tax computed at statutory rates



	Fiscal Years
(Dollars In Millions)	2013					2012 ^(a)					2011 ^(a)

Federal Income Taxes	$	1,023		35.0	%	$	1,040		35.0	%	$	1,029		34.9	%
State Income Taxes	65			2.2	%	81			2.8	%	65			2.2	%
Other	(30		)	(1.0	)%	(13		)	(0.4	)%	(8		)	(0.3	)%
Income Tax Expense/Rate	$	1,058		36.2	%	$	1,108		37.4	%	$	1,086		36.8	%

(a) See the revision of prior period financial statements in Note 1. Nature of Operations and Significant Accounting Policies.

Schedule of significant components of deferred income tax assets and liabilities

The significant components of deferred income tax assets and liabilities include:



	2013				2012
(Dollars in Millions)	Assets		Liabilities		Assets		Liabilities
Pension Plans	$	67	$	—	$	249	$	—
Other Employee Benefit Plans	299		—		292		—
Accelerated Depreciation	—		8,868		—		8,544
Other	257		262		278		252
Total	$	623	$	9,130	$	819	$	8,796
Net Deferred Income Tax Liabilities			$	8,507			$	7,977

Schedule of change to total gross unrecognized tax benefits

The change to the total gross unrecognized tax benefits and prior year audit resolutions of the Company during the fiscal year ended December 2013 is reconciled as follows:



Uncertain Tax Positions:	Fiscal Year
(Dollars in Millions)	2013			2012			2011
Balance at beginning of the year	$	24		$	22		$	20
Additions based on tax positions related to current year	2			6			1
Additions based on tax positions related to prior years	5			3			10
Reductions based on tax positions related to prior years	(6		)	(1		)	(3		)
Settlements with taxing authorities	—			—			(5		)
Lapse of statute of limitations	(2		)	(6		)	(1		)
Balance at end of the year	$	23		$	24		$	22

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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