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INCOME TAXES (Tables)
 12 Months Ended
Jun. 25, 2025
Income Tax Disclosure [Abstract]  
Income Before Income Taxes
Income before income taxes consists of the following:
Fiscal Years Ended
June 25, 2025June 26, 2024June 28, 2023
Domestic$457.8 $161.8 $87.8 
Foreign2.2 3.1 3.0 
Income before income taxes$460.0 $164.9 $90.8 
Provision (Benefit) For Income Taxes and Effective Tax Rate
The Provision (benefit) for income taxes and effective tax rate consists of the following:
Fiscal Years Ended
June 25, 2025June 26, 2024June 28, 2023
Current income tax expenses:
Federal$33.2 $17.5 $12.2 
State30.6 12.3 6.8 
Foreign0.6 0.4 0.2 
Total current income tax expenses64.4 30.2 19.2 
Deferred income tax expenses (benefit):
Federal15.2 (18.2)(29.5)
State(2.6)(2.5)(2.0)
Foreign(0.1)0.1 0.5 
Total deferred income tax expenses (benefit)12.5 (20.6)(31.0)
Provision (benefit) for income taxes$76.9 $9.6 $(11.8)
Effective tax rate 16.7 %5.8 %(13.0)%
Reconciliation Between Reported Provision (Benefit) for Income Taxes And Amount Computed By Statutory Federal Income Tax Rate
A reconciliation between the reported Provision (benefit) for income taxes and the amount computed by applying the statutory Federal income tax rate to Income before income taxes is as follows:
Fiscal Years Ended
June 25, 2025June 26, 2024June 28, 2023
Income tax expense at statutory rate$96.6 $34.6 $19.0 
FICA and other tax credits(41.2)(34.2)(34.6)
State income taxes, net of Federal benefit22.1 7.7 4.7 
Officers' compensation7.7 3.7 — 
Stock based compensation tax shortfall (windfall)(7.5)(1.2)0.8 
Other(0.8)(1.0)(1.7)
Provision (benefit) for income taxes$76.9 $9.6 $(11.8)
Deferred Income Tax Assets and Liabilities
The income tax effects of temporary differences that give rise to significant portions of deferred income tax assets and liabilities are as follows:
June 25, 2025June 26, 2024
Deferred income tax assets:
Lease liabilities$510.0 $472.4 
Gift cards7.3 8.3 
Insurance reserves21.3 15.2 
Stock-based compensation13.1 10.3 
Federal credit carryover26.7 61.2 
Employee benefit plans0.1 — 
Net operating losses3.7 4.4 
State credit carryover0.2 1.8 
Restructure charges and impairments3.8 3.0 
Depreciation and capitalized interest on property and equipment31.3 15.8 
Other, net13.9 11.9 
Less: Valuation allowance(6.3)(5.8)
Total deferred income tax assets625.1 598.5 
Deferred income tax liabilities:
Lease assets482.2 444.0 
Goodwill and other amortization23.0 23.0 
Prepaid expenses17.9 16.8 
Other, net0.6 0.8 
Total deferred income tax liabilities523.7 484.6 
Deferred income taxes, net$101.4 $113.9 
Reconciliation Of Unrecognized Tax Benefits
A reconciliation of unrecognized tax benefits are as follows:
June 25, 2025June 26, 2024
Balance at beginning of year$2.9 $2.8 
Additions based on tax positions related to the current year0.5 0.4 
Expiration of statute of limitations(0.7)(0.3)
Balance at end of year$2.7 $2.9