Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 27, 2012

Schedule of Components of Income Tax Expense (Benefit)

The components of the provision for income taxes for income from operations for each of the fiscal years were as follows (in millions):



	Year Ended December 27, 2012			Year Ended December 29, 2011			Year Ended December 30, 2010
Federal:
Current	$	3.8		$	4.7		$	3.0
Deferred	(0.1		)	(1.8		)	(0.8		)
Total Federal	3.7			2.9			2.2
State:
Current	1.2			0.6			0.3
Deferred	2.9			1.0			0.6
Total State	4.1			1.6			0.9
Total income tax provision	$	7.8		$	4.5		$	3.1

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the provision for income taxes as reported and the amount computed by multiplying the income before taxes and extraordinary item by the U.S. federal statutory rate of 35% was as follows (in millions):



	Year Ended December 27, 2012		Year Ended December 29, 2011		Year Ended December 30, 2010
Provision calculated at federal statutory income tax rate	$	5.1	$	3.5	$	2.5
State and local income taxes, net of federal benefit	2.7		1.0		0.5
Other	—		—		0.1
Total income tax provision	$	7.8	$	4.5	$	3.1

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s net deferred tax liability consisted of the following at (in millions):



	December 27, 2012			December 29, 2011
Deferred tax assets:
Net operating loss carryforward	$	11.6		$	15.1
Excess of tax basis over book basis of fixed assets	14.2			15.4
Deferred revenue	9.6			9.8
Other	1.4			0.3
Total deferred tax assets before valuation allowance	36.8			40.6
Valuation allowance	(2.4		)	(2.6		)
Total deferred tax assets after valuation allowance	34.4			38.0
Deferred tax liabilities:
Deferred gain on sale of theatres	(26.4		)	(27.9		)
Excess of book basis over tax basis of intangible assets	(27.9		)	(27.9		)
Other	(1.9		)	(1.4		)
Total deferred tax liabilities	(56.2		)	(57.2		)
Net deferred tax liability	$	(21.8	)	$	(19.2	)