Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 28, 2013

Schedule of Income before Income Tax, Domestic and Foreign

U.S. and foreign income from operations before income taxes are as follows (in thousands):



	December 28, 2013			December 29, 2012		December 31, 2011
United States	$	174,470		$	206,785	$	272,294
Foreign	(10,792		)	—		—
Income from operations before income taxes	$	163,678		$	206,785	$	272,294

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense attributable to income from continuing operations before income taxes consists of the following (in thousands):



	December 28, 2013			December 29, 2012		December 31, 2011
Current:
Federal	$	8,109		$	54,982	$	58,903
State	7,213			10,368		13,461
Foreign	482			58		467
Total current	15,804			65,408		72,831
Deferred:
Federal	40,396			10,015		26,233
State	505			592		3,812
Foreign	(1,994		)	—		—
Total deferred	38,907			10,607		30,045
	$	54,711		$	76,015	$	102,876

Schedule of Effective Income Tax Rate Reconciliation

Income tax expense for the years ended December 28, 2013, December 29, 2012 and December 31, 2011, differed from the amount computed by applying the statutory U.S. federal income tax rate to income from continuing operations before income taxes as a result of the following (in thousands):



	December 28, 2013			December 29, 2012			December 31, 2011
Computed "expected" tax expense	$	57,287		$	72,375		$	95,303
State income taxes, net of federal benefit	5,017			7,124			11,226
Section 199 qualified domestic production deduction	(619		)	(4,830		)	(5,306		)
Change in valuation allowance	507			254			1
Biofuel tax incentives	(9,342		)	—			—
Other, net	1,861			1,092			1,652
	$	54,711		$	76,015		$	102,876

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 28, 2013 and December 29, 2012 are presented below (in thousands):



	December 28, 2013			December 29, 2012
Deferred tax assets:
Loss contingency reserves	$	10,756		$	10,399
Employee benefits	9,749			8,700
Pension liability	4,183			12,132
Intangible assets amortization, including taxable goodwill	7,040			1,981
Net operating losses	4,732			1,925
Investment in DGD Joint Venture	—			1,134
Other	9,306			7,733
Total gross deferred tax assets	45,766			44,004
Less valuation allowance	(871		)	(300		)
Net deferred tax assets	44,895			43,704

Deferred tax liabilities:
Intangible assets amortization, including taxable goodwill	(63,779		)	(22,083		)
Property, plant and equipment depreciation	(67,535		)	(53,772		)
Investment in DGD Joint Venture	(31,842		)	—
Other	(3,209		)	(1,855		)
Total gross deferred tax liabilities	(166,365		)	(77,710		)
Net deferred tax liability	$	(121,470	)	$	(34,006	)

Amounts reported on Consolidated Balance Sheets:
Current deferred tax asset	$	17,289		$	12,609
Non-current deferred tax liability	(138,759		)	(46,615		)
Net deferred tax liability	$	(121,470	)	$	(34,006	)