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Income Taxes (Tables)

12 Months Ended

Dec. 25, 2021

Income Tax Disclosure [Abstract]

Provision for income taxes

The provision for income taxes consists of the following (in thousands):

			Fiscal Year
																		2021						2020						2019
Current tax expense:
Federal			$	221,152					$	211,228					$	128,490
State			34,238						38,511						25,091
Total current			255,390						249,739						153,581
Deferred tax expense/(benefit):
Federal			24,303						(21,997)						11,770
State			3,281						(8,553)						(4,328)
Total deferred			27,584						(30,550)						7,442
Total provision			$	282,974					$	219,189					$	161,023

Deferred tax assets and liabilities

Significant components of the deferred tax assets and liabilities are as follows (in thousands):

			December 25, 2021						December 26, 2020
Tax assets:
Inventory valuation			$	23,365					$	20,539
Accrued employee benefits costs			36,810						44,625
Nondeductible reserves			7,099						5,967
Finance lease liabilities			8,958						8,595
Operating lease liabilities			740,478						645,719
Deferred compensation			12,201						12,289
Workers' compensation insurance			14,271						11,804
General liability insurance			9,402						7,346
Income tax credits			7,986						8,744
Amortization			7,803						7,269
Other			12,799						10,746
			881,172						783,643
Tax liabilities:
Finance lease assets			(7,797)						(7,584)
Operating lease right-of-use assets			(702,197)						(612,658)
Depreciation			(161,137)						(124,280)
Other			(7,604)						(7,535)
			(878,735)						(752,057)
Net deferred tax asset			$	2,437					$	31,586

Reconciliation of the provision for income taxes to the amounts computed at the federal statutory rate

A reconciliation of the provision for income taxes to the amounts computed at the federal statutory rate is as follows (in thousands):

			Fiscal Year
																		2021						2020						2019
Tax provision at statutory rate			$	268,819					$	203,311					$	151,909
Tax effect of:
State income taxes, net of federal tax benefits			36,116						27,642						19,722
Tax credits, net of federal tax benefits			(13,157)						(8,828)						(7,768)
Share-based compensation programs			(13,368)						(9,303)						(4,484)
Other			4,564						6,367						1,644
Total income tax expense			$	282,974					$	219,189					$	161,023

Reconciliation of gross unrecognized tax benefits

A reconciliation of the beginning and ending gross amount of unrecognized tax benefits (exclusive of interest and penalties) is as follows (in thousands):

			Fiscal Year
			2021						2020						2019
Balance at beginning of year			$	3,236					$	2,760					$	2,451
Additions based on tax positions related to the current year			927						816						650
Additions for tax positions of prior years			51						32						59
Reductions for tax positions of prior years			(465)						(372)						(400)
Balance at end of year			$	3,749					$	3,236					$	2,760

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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