| * | Non-GAAP Profit before Tax does not include adjustments for the following components of our net income: (i) additional AMTC related costs of $—, $1,217, and $4,911 for the three months ended March 26, 2021, December 25, 2020, and March 27, 2020, respectively, and labor savings costs of $—, $109, and $289 for the three months ended March 26, 2021, December 25, 2020, and March 27, 2020, respectively, and (ii) additional AMTC related costs of $7,276 and $11,224 for the fiscal years ended March 26, 2021 and March 27, 2020, respectively, labor savings costs of $218 and $6,173 for the fiscal years ended March 26, 2021 and March 27, 2020, respectively, and out of period adjustment for depreciation expense of GMR assets of $768 and $— for the fiscal years ended March 26, 2021 and March 27, 2020, respectively. |
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Three-Month Period Ended
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Fiscal Year Ended
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March 26,
2021 |
December 25,
2020 |
March 27,
2020 |
March 26,
2021 |
March 27,
2020 | ||||||||||||||||
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(Dollars in thousands)
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| Reconciliation of Provision for Income Taxes | ||||||||||||||||||||
| GAAP Provision (Benefit) for Income Taxes | $ | 8,361 | $ | (30,523 | ) | $ | 4,463 | $ | (19,552 | ) | $ | 16,173 | ||||||||
| GAAP effective tax rate | 32.0 | % | 85.8 | % | 25.1 | % | 1347.5 | % | 30.4 | % | ||||||||||
| Tax effect of adjustments to GAAP results | (3,053 | ) | 34,872 | 1,896 | 34,486 | (2,601 | ) | |||||||||||||
| Non-GAAP Provision for Income Taxes | $ | 5,308 | $ | 4,349 | $ | 6,359 | $ | 14,934 | $ | 13,572 | ||||||||||
| Non-GAAP effective tax rate | 15.7 | % | 15.9 | % | 24.2 | % | 15.4 | % | 20.0 | % | ||||||||||
