Income Taxes (Tables)

12 Months Ended

Dec. 29, 2012

Income Taxes [Abstract]

Components of income tax provision (benefit)

(in thousands)	2012			2011			2010
Current:
Federal	$	37,192		$	30,952		$	25,943
State		2,895			2,377			2,197
		40,087			33,329			28,140
Deferred:
Federal		(2,214	)		(1,927	)		393
State		(170	)		(70	)		34
		(2,384	)		(1,997	)		427
Total	$	37,703		$	31,332		$	28,567

Reconciliation of income taxes at statutory tax rate to Company's effective tax rate

	2012			2011			2010
Federal taxes at statutory rate		35.0	%		35.0	%		35.0	%
State taxes, net of Federal tax benefit		1.7			1.7			1.9
Proceeds from 2011 receipt of officer’s life insurance		—			(0.8	)		—
Stock-based compensation		0.1			0.1			0.1
Other		(0.6	)		(0.2	)		0.3
Effective tax rate		36.2	%		35.8	%		37.3	%

Change in uncertain tax benefit reserves

(in thousands)	2012			2011			2010
Balance at beginning of year	$	2,161		$	2,532		$	2,175
Reductions due to lapses in statutes of limitations		(44	)		(65	)		(8	)
Reductions due to payments for tax positions settled		(379	)		(702	)		—
Reductions due to reversals of prior year positions		(651	)		(210	)		—
Additions based on tax positions taken during the current period		698			606			365
Balance at end of year	$	1,785		$	2,161		$	2,532

Reconciliation of Deferred Tax assets and Liabilities

(in thousands)	December 29, 2012		December 31, 2011
Assets:
Inventories	$	6,779	$	6,704
Accounts receivable		10,847		8,902
Accrued expenses		2,079		2,288
Other		1,764		1,801
Gross deferred tax assets		21,469		19,695
Liabilities:
Depreciation		3,367		2,129
Goodwill		9,231		9,149
Other		991		1,497
Gross deferred tax liabilities		13,589		12,775
Net deferred tax assets before valuation allowance		7,880		6,920
Valuation allowance		—		(1,424	)
Net deferred tax assets	$	7,880	$	5,496