Income Taxes (Tables)

12 Months Ended

Jan. 01, 2015

Components of Provision for Income Taxes

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 January 1, 2015		Year Ended December 26, 2013			Year Ended December 27, 2012
Federal:
Current	$	4.2	$	4.7		$	3.8
Deferred	1.2		(0.2		)	(0.1		)
Total Federal	5.4		4.5			3.7
State:
Current	1.2		1.3			1.2
Deferred	0.1		(0.1		)	2.9
Total State	1.3		1.2			4.1
Total income tax provision	$	6.7	$	5.7		$	7.8

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 January 1, 2015		Year Ended December 26, 2013		Year Ended December 27, 2012
Provision calculated at federal statutory income tax rate	$	5.9	$	4.9	$	5.1
State and local income taxes, net of federal benefit	0.8		0.8		2.7
Total income tax provision	$	6.7	$	5.7	$	7.8

Schedule of Deferred Tax Assets and Liabilities

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



	January 1, 2015			December 26, 2013
Deferred tax assets:
Net operating loss carryforward	$	7.7		$	9.8
Excess of tax basis over book basis of fixed assets	10.8			13.6
Deferred revenue	9.3			9.5
Other	2.2			1.4
Total deferred tax assets before valuation allowance	30.0			34.3
Valuation allowance	(2.1		)	(2.4		)
Total deferred tax assets after valuation allowance	27.9			31.9
Deferred tax liabilities:
Deferred gain on sale of theatres	(19.2		)	(22.7		)
Excess of book basis over tax basis of intangible assets	(28.0		)	(28.0		)
Deferred rent	(3.0		)	(2.3		)
Other	(0.1		)	(0.1		)
Total deferred tax liabilities	(50.3		)	(53.1		)
Net deferred tax liability	$	(22.4	)	$	(21.2	)