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Income Taxes | 12 Months Ended
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Aug. 31, 2019
Income Taxes [Abstract] |
Income Taxes | 7. INCOME TAXES ﻿ The provision for income taxes is comprised of the following: ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | For the Fiscal Years Ended
﻿ |  | August 31, |  | September 1, |  | September 2,
﻿ |  | 2019 |  | 2018 |  | 2017
﻿Current: |  |  |  |  |  |  |  |  |
﻿Federal |  | $ | 66,161 |  | $ | 85,205 |  | $ | 108,347
﻿State and local |  |  | 16,239 |  |  | 16,108 |  |  | 16,059
﻿ |  |  | 82,400 |  |  | 101,313 |  |  | 124,406
﻿Deferred: |  |  |  |  |  |  |  |  |
﻿Federal |  |  | 10,622 |  |  | (27,372) |  |  | 10,938
﻿State and local |  |  | 1,310 |  |  | 3,025 |  |  | 1,217
﻿ |  |  | 11,932 |  |  | (24,347) |  |  | 12,155
﻿Total |  | $ | 94,332 |  | $ | 76,966 |  | $ | 136,561
﻿ Significant components of deferred tax assets and liabilities are as follows: ﻿
﻿ |  |  |  |  |  |
﻿ |  | August 31, |  | September 1,
﻿ |  | 2019 |  | 2018
﻿Deferred tax liabilities: |  |  |  |  |  |
﻿Depreciation |  | $ | (40,602) |  | $ | (36,361)
﻿Deferred catalog costs |  |  | (546) |  |  | (561)
﻿Goodwill |  |  | (86,707) |  |  | (77,023)
﻿Intangible amortization |  |  | (143) |  |  | —
﻿ |  |  | (127,998) |  |  | (113,945)
﻿Deferred tax assets: |  |  |  |  |  |
﻿Accounts receivable |  |  | 3,823 |  |  | 2,812
﻿Inventory |  |  | 6,529 |  |  | 6,163
﻿Deferred compensation |  |  | 853 |  |  | 650
﻿Stock-based compensation |  |  | 5,887 |  |  | 5,329
﻿Intangible amortization |  |  | — |  |  | 988
﻿Foreign Tax Credit |  |  | 2,712 |  |  | 2,712
﻿Less: Valuation Allowance |  |  | (1,762) |  |  | (1,762)
﻿Other accrued expenses/reserves |  |  | 8,164 |  |  | 7,192
﻿ |  |  | 26,206 |  |  | 24,084
﻿Net Deferred Tax Liabilities |  | $ | (101,792) |  | $ | (89,861)
﻿ Reconciliation of the statutory federal income tax rate to the Company’s effective tax rate is as follows: ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | For the Fiscal Years Ended
﻿ |  | August 31, |  | September 1, |  | September 2,
﻿ |  | 2019 |  | 2018 |  | 2017
﻿U.S. Federal statutory rate |  | 21.0 | % |  | 25.6 | % |  | 35.0 | %
﻿State income taxes, net of Federal benefit |  | 3.7 |  |  | 3.4 |  |  | 3.0 |
﻿Revaluation of Net Deferred Tax Liabilities |  | — |  |  | (10.0) |  |  | — |
﻿Other, net |  | (0.1) |  |  | (0.1) |  |  | (0.9) |
﻿Effective income tax rate |  | 24.6 | % |  | 18.9 | % |  | 37.1 | %
﻿ The aggregate changes in the balance of gross unrecognized tax benefits during fiscal 2019 and 2018 were as follows: ﻿
﻿ |  |  |  |  |  |
﻿ |  |  |  |  |  |
﻿ |  | August 31, |  | September 1,
﻿ |  | 2019 |  | 2018
﻿Beginning Balance |  | $ | 11,943 |  | $ | 12,641
﻿Additions for tax positions relating to current year |  |  | 2,203 |  |  | 2,811
﻿Additions for tax positions relating to prior years |  |  | 2,201 |  |  | 1,940
﻿Reductions for tax positions relating to prior years |  |  | (409) |  |  | (2,821)
﻿Settlements |  |  | (1,371) |  |  | —
﻿Lapse of statute of limitations |  |  | (1,270) |  |  | (2,628)
﻿Ending Balance |  | $ | 13,297 |  | $ | 11,943
﻿ Included in the balance of unrecognized tax benefits at August 31, 2019 is $1,134 related to tax positions for which it is reasonably possible that the total amounts could significantly change during the next 12 months. This amount represents a decrease in unrecognized tax benefits comprised primarily of items related to expiring statutes of limitations in state jurisdictions. ﻿ The Company recognizes interest expense and penalties in the provision for income taxes. The fiscal years 2019, 2018 and 2017 provisions include interest and penalties of $27, $44, and $245, respectively. The Company has accrued $521 and $447 for interest and penalties as of August 31, 2019 and September 1, 2018, respectively. ﻿ The Company has a foreign tax credit carryover of $2,712 in fiscal year 2018 of which a valuation allowance of $1,762 has been provided. This foreign tax credit carryover expires beginning fiscal year 2024. ﻿ On December 22, 2017, the TCJA was enacted. The TCJA made significant changes to U.S. federal income tax laws including permanently lowering the U.S. corporate income tax rate from 35% to 21% effective January 1, 2018. As the Company has a fiscal August year-end, the lower corporate income tax rate was phased in, resulting in a U.S. statutory rate of 25.6% for the fiscal year ending September 1, 2018. The Company’s statutory federal tax rate is 21.0% for fiscal years 2019 and beyond. U.S. GAAP required that the impact of tax legislation be recognized in the period in which the law was enacted. ﻿ In December 2017, the SEC issued Staff Accounting Bulletin No. 118, which allows a company to report provisional numbers related to the TCJA and adjust those amounts during a measurement period not to extend beyond one year. The Company recorded a net tax benefit of $40,464 due to the revaluation of its net deferred tax liabilities primarily related to the lower federal corporate tax rate, partially offset by the lower federal benefit for state taxes and the change from a worldwide tax system to a territorial tax system in fiscal 2018. The amounts recorded are provisional and are subject to change due to further interpretations of the TCJA, legislative action to address questions that arise because of the TCJA, and/or any updates or changes to estimates the Company has utilized to calculate the impacts, such as return to accrual adjustments and/or changes to current year earnings estimates and the Company’s ongoing analysis of the TCJA. ﻿ The Company is routinely examined by federal and state tax authorities. The Company is currently under exam ination by the Internal Revenue Service due to a refund claim for a specific tax credit taken on the Federal tax return and as such is subject to examination from fiscal 2013 to present. With limited exceptions, the Company is no longer subject to state income tax examinations prior to fiscal 2014.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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