Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v2.4.1.9
Income Taxes (Tables)
12 Months Ended
Jan. 03, 2015
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
The provision for (benefit of) income taxes for fiscal years 2014 and 2013 consisted of the following:
 
For the fiscal years ended
 
January 3, 2015
 
December 28, 2013
 
 
 
(as restated)
Current tax expense:
 

 
 

Federal
$
852

 
$
123

State
146

 
107

Foreign
29

 
(71
)
Current tax expense
$
1,027

 
$
159

Deferred tax expense — domestic
(318
)
 
(1,569
)
Deferred tax expense — foreign
5

 
2

Provision for (benefit of) income taxes
$
714

 
$
(1,408
)
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
A reconciliation of our provision for (benefit of) income taxes with the federal statutory tax rate for fiscal years 2014 and 2013 is shown below:
 
For the fiscal years ended
 
January 3, 2015
 
December 28, 2013
 
 
 
(as restated)
Income tax expense at statutory rate
$
512

 
$
1,000

Portion attributable to noncontrolling interest at statutory rate
(8
)
 
(107
)
State tax expense, net of federal tax effect
69

 
188

Permanent differences
175

 
61

Change in valuation allowance
(11
)
 
(372
)
Recognition of tax effect for the cumulative undistributed earnings from Canada
(44
)
 
(54
)
Reversal of deferred tax asset valuation allowance

 
(2,150
)
Adjustment of deferred tax assets
7

 
(1
)
Foreign income tax payable true-up

 
(4
)
Other
14

 
31

 
$
714

 
$
(1,408
)
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]
Income before provision for (benefit of) income taxes and noncontrolling interest was derived from the following sources for fiscal years 2014 and 2013 as shown below:

 
For the fiscal years ended
 
January 3, 2015
 
December 28, 2013
 
 
 
 
United States
$
1,411

 
$
2,291

Canada
98

 
(237
)
 
$
1,509

 
$
2,054

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
The deferred tax amounts have been classified in the accompanying consolidated balance sheets as follows:
 
January 3, 2015
 
December 28, 2013
 
(as restated)
 
(as restated)
Current assets
$
2,082

 
$
1,807

Non-current assets
14

 
21

Non-current liabilities
(1,048
)
 
(1,092
)
 
$
1,048

 
$
736

The components of net deferred tax assets (liabilities) as of January 3, 2015, and December 28, 2013, are as follows:
 
January 3, 2015
 
December 28, 2013
 
(as restated)
 
(as restated)
Deferred tax assets:
 
 
 
Net operating loss carryforwards
$
309

 
$
317

Federal and state tax credits
242

 
199

Reserves
246

 
210

Accrued expenses
1,963

 
1,541

Share-based compensation
348

 
307

Deferred gain

 
142

Property and equipment
14

 
21

Other
25

 

Total deferred tax assets
3,147

 
2,737

Deferred tax liabilities:
 
 
 

Prepaid expenses
(142
)
 
(148
)
Property and equipment
(38
)
 
(29
)
Investments
(1,315
)
 
(1,211
)
Total deferred tax liabilities
(1,495
)
 
(1,388
)
Valuation allowance
(604
)
 
(613
)
Net deferred tax assets
$
1,048

 
$
736