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Component: (Network and Table)
Network
134 - Disclosure - Income Taxes (Tables)
(http://www.bostonbeer.com/taxonomy/role/NotesToFinancialStatementsIncomeTaxDisclosureTextBlockTables)
TableStatement [Table]
Slicers (applies to each fact value in each table cell)
Statement [Line Items]Period [Axis]
2015-12-27 - 2016-12-31
Significant Components of Provisions for Income Taxes

Significant components of the provision for income taxes are as follows:

 

     2016      2015      2014  
     (in thousands)  

Current:

        

Federal

   $ 35,390       $ 42,391       $ 30,595   

State

     6,108         7,403         8,262   
  

 

 

    

 

 

    

 

 

 

Total current

     41,498         49,794         38,857   

Deferred:

        

Federal

     7,666         6,279         15,407   

State

     608         523         587   
  

 

 

    

 

 

    

 

 

 

Total deferred

     8,274         6,802         15,994   
  

 

 

    

 

 

    

 

 

 

Total provision for income taxes

   $ 49,772       $ 56,596       $ 54,851   
  

 

 

    

 

 

    

 

 

 
 
 
Reconciliations to Statutory Rates

The Company’s reconciliations to statutory rates are as follows:

 

     2016     2015     2014  

Statutory rate

     35.0     35.0     35.0

State income taxes, net of federal benefit

     3.6        3.4        4.0   

Deduction relating to U.S. production activities

     (2.6     (2.7     (2.1

Change in valuation allowance

     (0.3     —          —     

Other

     0.6        0.8        0.8   
  

 

 

   

 

 

   

 

 

 
     36.3     36.5     37.7
  

 

 

   

 

 

   

 

 

 
 
 
Significant Components of Company's Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows at:

 

     December 31,      December 26,  
     2016      2015  
     (in thousands)  

Deferred tax assets:

     

Accrued expenses

   $ 6,488       $ 7,435   

Stock-based compensation expense

     5,929         9,493   

Inventory

     1,117         2,398   

Other

     4,097         4,154   
  

 

 

    

 

 

 

Total deferred tax assets

     17,631         23,480   

Valuation allowance

     (669      (1,036
  

 

 

    

 

 

 

Total deferred tax assets net of valuation allowance

     16,962         22,444   

Deferred tax liabilities:

     

Property, plant and equipment

     (72,140      (69,226

Prepaid expenses

     (1,204      (1,475

Goodwill

     (879      (761
  

 

 

    

 

 

 

Total deferred tax liabilities

     (74,223      (71,462
  

 

 

    

 

 

 

Net deferred tax liabilities

   $ (57,261    $ (49,018
  

 

 

    

 

 

 
 
 
Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

 

     2016      2015  
     (in thousands)  

Balance at beginning of year

   $ 486       $ 368   

Increases related to current year tax positions

     80         44   

Increases related to prior year tax positions

     76         117   

Decreases related to settlements

     (50      —     

Decreases related to lapse of statute of limitations

     (3      (43
  

 

 

    

 

 

 

Balance at end of year

   $ 589       $ 486