Income Taxes (Tables)

12 Months Ended

Apr. 29, 2016

Income Tax Disclosure [Abstract]

Deferred Tax Assets and Liabilities

See the table below for the impact of this adjustment:

(in thousands)	As reported			As adjusted
Current deferred tax assets	$	16,117		$	—
Non-current deferred tax assets	2,326			4,836
Non-current deferred tax liabilities	(17,825		)	(4,218		)
Net deferred tax assets	$	618		$	618

Significant components of our deferred tax liabilities and assets as of April 29, 2016, and April 24, 2015, were as follows:

(in thousands)	April 29, 2016			April 24, 2015
Deferred tax assets:
Self-insurance	$	5,595		$	6,357
Stock and deferred compensation plans	12,582			16,857
Deferred proceeds on Mimi’s Café sale	3,564			4,263
State net operating loss carry forward	1,021			2,586
Credit carryforwards	17			13
Legal Reserve	459			2,791
Inventory	2,605			2,582
Wage and related liabilities	3,426			—
Deferred gain from sale leaseback	22,306			—
Other	7,189			6,772
Total deferred tax assets before valuation allowances	58,764			42,221
Valuation allowance	(246		)	(241		)
Net deferred tax assets	$	58,518		$	41,980
Deferred tax liabilities:
Property, plant and equipment	$	28,111		$	40,054
Other	1,405			1,308
Total deferred tax liabilities	29,516			41,362
Net deferred tax assets (liabilities)	$	29,002		$	618

Provisions for Income Taxes from Continuing Operations

Significant components of the provision (benefit) for income taxes are as follows:

(in thousands)	2016			2015			2014
Current:
Federal	$	27,952		$	8,021		$	7,734
State	1,631			(746		)	(1,236		)
Total current	29,583			7,275			6,498
Deferred:
Federal	(28,440		)	(15,243		)	(6,769		)
State	56			452			414
Total deferred	(28,384		)	(14,791		)	(6,355		)
Total tax provision (benefit)	$	1,199		$	(7,516	)	$	143

Effective Income Tax Rate Reconciliation

Our provision (benefit) for income taxes differs from the amounts computed by applying the federal statutory rate due to the following:

	2016		2015		2014
Statutory Federal Tax Rate	35.0	%	35.0	%	35.0	%
State income tax — net	5.1		0.5		1.5
Federal tax credits	(21.1	)	(72.4	)	(17.0	)
Domestic Production Activity Deduction	(13.4	)	(29.2	)	(8.7	)
Worthless stock	—		—		(1.9	)
Officers life insurance	2.4		(6.9	)	(2.6	)
Charitable Contributions	(1.9	)	(4.5	)	(1.0	)
Settlements with state taxing authorities	—		—		(4.0	)
State and Local Tax Reserves	(0.3	)	(5.8	)	(0.3	)
Other	(1.1	)	0.1		(0.5	)
Provision (benefit) for income taxes	4.7	%	(83.2	)%	0.5	%

Unrecognized Tax Benefits Reconciliation

The following table summarizes activity of the total amounts of unrecognized tax benefits:

(in thousands)	2016			2015			2014
Balance at beginning of fiscal year	$	5,202		$	5,952		$	9,554
Additions based on tax positions related to the current year	306			63			31
Additions for tax positions of prior years	149			551			1,004
Reductions for tax positions of prior years	(188		)	(284		)	(25		)
Reductions due to settlements with taxing authorities	(113		)	(672		)	(1,423		)
Reductions due to statute of limitations expiration	(373		)	(408		)	(3,189		)
Balance at end of fiscal year	$	4,983		$	5,202		$	5,952