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Note 8 - Income Taxes (Tables)

12 Months Ended

May 01, 2021

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		(In thousands)
		Fiscal				Fiscal				Fiscal
		2021				2020				2019
Current		$	51,520			$	40,647			$	39,673
Deferred			2,471				(1,164	)			3,351
Total		$	53,991			$	39,483			$	43,024

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		(In thousands)
		2021				2020
Deferred tax assets:
Accrued expenses and other		$	3,347			$	4,930
Inventory and amortizable assets			544				565
Total deferred tax assets			3,891				5,495
Deferred tax liabilities:
Property			18,814				18,872
Intangibles and other			2,371				1,446
Total deferred tax liabilities			21,185				20,318
Net deferred tax liabilities		$	17,294			$	14,823

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		Fiscal				Fiscal				Fiscal
		2021				2020				2019
Statutory federal income tax rate			21.0	%			21.0	%			21.0	%
State income taxes, net of federal benefit			2.9				2.9				2.9
Domestic manufacturing deduction benefit			-				-				-
Re-measurement of deferred taxes			-				-				-
Other differences			(.2	)			(.6	)			(.5	)
Effective income tax rate			23.7	%			23.3	%			23.4	%

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

		(In thousands)
		Fiscal				Fiscal				Fiscal
		2021				2020				2019
Beginning balance		$	1,974			$	1,868			$	1,733
Increases due to current period tax positions			150				120				139
Decreases due to lapse of statute of limitations and audit resolutions			(69	)			(14	)			(4	)
Ending balance		$	2,055			$	1,974			$	1,868

X

- Definition

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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