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Income Taxes (Tables)
12 Months Ended
Mar. 30, 2012
Income Taxes [Abstract]  
Summary of provision for (benefit from) income taxes

The provision for income taxes includes the following:

 

 

                         
    Fiscal Years Ended  
    March 30,
2012
    April 1,
2011
    April 2,
2010
 
    (In thousands)  

Current tax (benefit) provision

                       

Federal

  $ (4,761 )    $ 433     $ (6,461 ) 

State

    (482 )      3,178       (667 ) 

Foreign

    (45 )      222       199  
   

 

 

   

 

 

   

 

 

 
      (5,288 )      3,833       (6,929 ) 
   

 

 

   

 

 

   

 

 

 

Deferred tax (benefit) provision

                       

Federal

    (1,519 )      3,704       13,608  

State

    (6,334 )      (7,064 )      (1,191 ) 

Foreign

    (510 )      (475 )      (50 ) 
   

 

 

   

 

 

   

 

 

 
      (8,363 )      (3,835 )      12,367  
   

 

 

   

 

 

   

 

 

 

Total (benefit from) provision for income taxes

  $ (13,651 )    $ (2 )    $ 5,438  
   

 

 

   

 

 

   

 

 

 
Components of Company's net deferred tax assets

Significant components of the Company’s net deferred tax assets are as follows:

 

                 
    As of  
    March 30,
2012
    April 1,
2011
 
    (In thousands)  

Deferred tax assets:

               

Net operating loss carryforwards

  $ 163,548     $ 79,930  

Tax credit carryforwards

    64,013       46,355  

Warranty reserve

    4,482       5,086  

Accrued compensation

    5,547       5,125  

Deferred rent

    3,390       2,673  

Inventory reserve

    6,069       4,899  

Stock-based compensation

    9,793       8,830  

Contract accounting

    768       1,415  

Other

    8,027       8,060  

Valuation allowance

    (14,695 )      (12,671 ) 
   

 

 

   

 

 

 

Total deferred tax assets

    250,942       149,702  

Deferred tax liabilities:

               

Property, equipment and satellites and intangible assets

    (180,096 )      (87,254 ) 
   

 

 

   

 

 

 

Total deferred tax liabilities

    (180,096 )      (87,254 ) 
   

 

 

   

 

 

 

Net deferred tax assets

  $ 70,846     $ 62,448  
   

 

 

   

 

 

 
Reconciliation of the provision for (benefit from) income taxes to the amount computed by applying the statutory federal income tax rate to income (loss) before income taxes

A reconciliation of the provision for income taxes to the amount computed by applying the statutory federal income tax rate to income before income taxes is as follows:

 

                         
    Fiscal Years Ended  
    March 30,
2012
    April 1,
2011
    April 2,
2010
 
    (In thousands)  

Tax (benefit) expense at federal statutory rate

  $ (2,128 )    $ 12,749     $ 12,698  

State tax provision, net of federal benefit

    112       1,375       2,259  

Tax credits, net of valuation allowance

    (12,973 )      (15,615 )      (11,408 ) 

Manufacturing deduction

    176       —         —    

Non-deductible transaction costs

    —         30       1,435  

Non-deductible compensation

    700       1,054       377  

Non-deductible meals and entertainment

    447       328       163  

Other

    15       77       (86 ) 
   

 

 

   

 

 

   

 

 

 

Total (benefit from) provision for income taxes

  $ (13,651 )    $ (2 )    $ 5,438  
   

 

 

   

 

 

   

 

 

 
Summary of the activity related to the Company's unrecognized tax benefits

The following table summarizes the activity related to the Company’s unrecognized tax benefits:

 

                         
    As of  
    March 30,
2012
    April 1,
2011
    April 2,
2010
 
    (In thousands)  

Balance, beginning of fiscal year

  $ 33,015     $ 31,759     $ 37,917  

Increase (decrease) related to prior year tax positions

    819       1,819       (2,058 ) 

Increases related to current year tax positions

    3,148       4,740       3,031  

Statute expirations

    (3,426 )      (5,303 )      (3,452 ) 

Settlements

    —         —         (3,679 ) 
   

 

 

   

 

 

   

 

 

 

Balance, end of fiscal year

  $ 33,556     $ 33,015     $ 31,759