XML 44 R30.htm IDEA: XBRL DOCUMENT v2.4.0.8
Income Taxes (Tables)
12 Months Ended
Apr. 04, 2014
Income Tax Disclosure [Abstract]  
Summary of Provision for Income Taxes

The provision for income taxes includes the following:

 

     Fiscal Years Ended  
     April 4,
2014
    March 29,
2013
    March 30,
2012
 
     (In thousands)  

Current tax provision (benefit)

      

Federal

   $ 798      $ (166 )    $ (4,761 ) 

State

     540        2        (482 ) 

Foreign

     12        (64 )      (45 ) 
  

 

 

   

 

 

   

 

 

 
     1,350        (228 )      (5,288 ) 
  

 

 

   

 

 

   

 

 

 

Deferred tax benefit

      

Federal

     (11,188 )      (36,042 )      (1,519 ) 

State

     (16,032 )      (12,657 )      (6,334 ) 

Foreign

     (77 )      (1,127 )      (510 ) 
  

 

 

   

 

 

   

 

 

 
     (27,297 )      (49,826 )      (8,363 ) 
  

 

 

   

 

 

   

 

 

 

Total benefit from income taxes

   $ (25,947 )    $ (50,054 )    $ (13,651 ) 
  

 

 

   

 

 

   

 

 

Components of Net Deferred Tax Assets

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

 

     As of  
     April 4,
2014
    March 29,
2013
 
     (In thousands)  

Deferred tax assets:

    

Net operating loss carryforwards

   $ 269,427      $ 240,402   

Tax credit carryforwards

     96,586        82,910   

Warranty reserve

     6,475        5,325   

Accrued compensation

     6,880        5,846   

Deferred rent

     4,128        3,618   

Inventory reserve

     6,636        7,578   

Stock-based compensation

     9,728        8,214   

Other

     6,872        10,793   

Valuation allowance

     (12,832 )      (15,965 ) 
  

 

 

   

 

 

 

Total deferred tax assets

     393,900        348,721   

Deferred tax liabilities:

    

Property, equipment and satellites and intangible assets

     (246,293 )      (227,965 ) 
  

 

 

   

 

 

 

Total deferred tax liabilities

     (246,293 )      (227,965 ) 
  

 

 

   

 

 

 

Net deferred tax assets

   $ 147,607      $ 120,756   
  

 

 

   

 

 

Reconciliation of Provision for Income Taxes to Amount Computed by Applying Statutory Federal Income Tax Rate to Income 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  
     April 4,
2014
    March 29,
2013
    March 30,
2012
 
     (In thousands)  

Tax benefit at federal statutory rate

   $ (12,132 )    $ (31,737 )    $ (2,128 ) 

State tax provision, net of federal benefit

     (3,555 )      (3,202 )      26   

Tax credits, net of valuation allowance

     (13,149 )      (17,171 )      (12,887 ) 

Manufacturing deduction

     —         —         176   

Non-deductible compensation

     1,337        1,305        700   

Non-deductible meals and entertainment

     678        448        447   

Other

     874        303        15   
  

 

 

   

 

 

   

 

 

 

Total benefit from income taxes

   $ (25,947 )    $ (50,054 )    $ (13,651 ) 
  

 

 

   

 

 

   

 

 

Summary of Activity Related to Unrecognized Tax Benefits

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

 

     As of  
     April 4,
2014
    March 29,
2013
    March 30,
2012
 
     (In thousands)  

Balance, beginning of fiscal year

   $ 34,491      $ 33,556      $ 33,015   

(Decrease) increase related to prior year tax positions

     (249 )      16        819   

Increases related to current year tax positions

     4,459        4,608        3,148   

Statute expirations

     (1,306 )      (3,489 )      (3,426 ) 

Settlements

     —         (200 )      —    
  

 

 

   

 

 

   

 

 

 

Balance, end of fiscal year

   $ 37,395      $ 34,491      $ 33,556