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v3.22.2.2

Income Taxes (Tables) | 12 Months Ended
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Aug. 27, 2022
Income Tax Disclosure [Abstract] |
Components of Provision / (Benefit) for Income Taxes | The provision / (benefit) for income taxes consists of the following (in thousands):
Fiscal year |  | 2022 |  |  | 2021 |  |  | 2020 |
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | 7,655 |  |  | $ | 35,267 |  |  | $ | 40,084 |
Foreign |  |  | 1,839 |  |  |  | 1,714 |  |  |  | 1,589 |
State |  |  | 3,701 |  |  |  | 9,873 |  |  |  | 12,865 |
Total current |  | $ | 13,195 |  |  | $ | 46,854 |  |  | $ | 54,538 |
Deferred: |  |  |  |  |  |  |  |  |
Federal |  | $ | 13,883 |  |  | $ | (1,421 | ) |  | $ | (8,522 | )
Foreign |  |  | 180 |  |  |  | 848 |  |  |  | (599 | )
State |  |  | 3,663 |  |  |  | (521 | ) |  |  | (3,299 | )
Total deferred |  | $ | 17,726 |  |  | $ | (1,094 | ) |  | $ | (12,420 | )
Total |  | $ | 30,921 |  |  | $ | 45,760 |  |  | $ | 42,118 |
Reconciliation of Provision for Income Taxes | The following table reconciles the provision for income taxes using the statutory federal income tax rate to the actual provision for income taxes:
Fiscal year |  | 2022 |  |  | 2021 |  |  | 2020 |
Income taxes at the statutory federal income tax rate |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | %
State income taxes |  |  | 4.7 |  |  |  | 4.2 |  |  |  | 4.4 |
Adjustments to Tax Reserve |  |  | (2.1 | ) |  |  | (0.3 | ) |  |  | (0.9 | )
Other |  |  | (0.6 | ) |  |  | (1.7 | ) |  |  | (0.8 | )
Total |  |  | 23.0 | % |  |  | 23.2 | % |  |  | 23.7 | %
Components of Deferred Income Taxes | The components of deferred income taxes included on the consolidated balance sheets are as follows (in thousands):
|  | August 27, 2022 |  |  | August 28, 2021 |
Deferred Tax Assets |  |  |  |  |  |
Payroll and benefit related |  | $ | 14,923 |  |  | $ | 21,893 |
Insurance related |  |  | 15,035 |  |  |  | 14,042 |
Environmental |  |  | 8,212 |  |  |  | 8,408 |
Accrued expenses |  |  | 8,170 |  |  |  | 10,134 |
Operating lease liabilities |  |  | 11,471 |  |  |  | 9,214 |
Other |  |  | 9,841 |  |  |  | 8,127 |
Total deferred tax assets |  | $ | 67,652 |  |  | $ | 71,818 |
Deferred Tax Liabilities |  |  |  |  |  |
Payroll and benefit related |  | $ | 20,588 |  |  | $ | 19,474 |
Tax in excess of book depreciation |  |  | 40,016 |  |  |  | 40,725 |
Purchased intangible assets |  |  | 39,747 |  |  |  | 36,183 |
Rental merchandise in service |  |  | 55,287 |  |  |  | 45,432 |
Operating lease right-of-use assets |  |  | 11,111 |  |  |  | 8,984 |
Other |  |  | 232 |  |  |  | 157 |
Total deferred tax liabilities |  |  | 166,981 |  |  |  | 150,955 |
Net deferred tax liability |  | $ | 99,329 |  |  | $ | 79,137 |
Reconciliation of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):
Balance at August 29, 2020 |  | $ | 6,330 |
Additions based on tax positions related to the current year |  |  | 637 |
Additions for tax positions of prior years |  |  | 3,552 |
Reduction for tax positions of prior years |  |  | (287 | )
Statute expirations |  |  | (911 | )
Balance at August 28, 2021 |  |  | 9,321 |
Additions based on tax positions related to the current year |  |  | 489 |
Additions for tax positions of prior years |  |  | 107 |
Reduction for tax positions of prior years |  |  | (3,013 | )
Statute expirations |  |  | (487 | )
Balance at August 27, 2022 |  | $ | 6,417 |

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- 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI https://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32840-109319 + Details
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