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Income Taxes (Tables) | 12 Months Ended
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Dec. 28, 2024
Income Tax Disclosure [Abstract] |
Components of Income Tax Expense (Benefit) | The company’s provision for income tax expense (benefit) consists of the following for Fiscal 2024, 2023, and 2022 (amounts in thousands):
|  | Fiscal 2024 |  |  | Fiscal 2023 |  |  | Fiscal 2022 |
Current Taxes: |  |  |  |  |  |  |  |  |
Federal |  | $ | 41,406 |  |  | $ | 63,351 |  |  | $ | 54,462 |
State |  |  | 8,466 |  |  |  | 13,680 |  |  |  | 14,409 |
|  |  | 49,872 |  |  |  | 77,031 |  |  |  | 68,871 |
Deferred Taxes: |  |  |  |  |  |  |  |  |
Federal |  |  | 24,029 |  |  |  | (36,474 | ) |  |  | 3,508 |
State |  |  | 6,925 |  |  |  | (6,866 | ) |  |  | (2,062 | )
|  |  | 30,954 |  |  |  | (43,340 | ) |  |  | 1,446 |
Income tax expense |  | $ | 80,826 |  |  | $ | 33,691 |  |  | $ | 70,317 |
Reconciliation of Effective Tax Amount | Income tax expense differs from the amount computed by applying the applicable U.S. federal income tax rate of 21% because of the effect of the following items for Fiscal 2024, 2023 and 2022 (amounts in thousands):
|  | Fiscal 2024 |  |  | Fiscal 2023 |  |  | Fiscal 2022 |
Tax at U.S. federal income tax rate |  | $ | 69,078 |  |  | $ | 32,992 |  |  | $ | 62,729 |
State income taxes, net of federal income tax benefit |  |  | 12,158 |  |  |  | 5,383 |  |  |  | 9,754 |
Net share-based windfalls |  |  | 97 |  |  |  | (1,960 | ) |  |  | (2,219 | )
Excess executive compensation |  |  | 3,175 |  |  |  | 1,950 |  |  |  | 2,218 |
Tax credits |  |  | (2,692 | ) |  |  | (2,655 | ) |  |  | (2,263 | )
Other |  |  | (990 | ) |  |  | (2,019 | ) |  |  | 98 |
Income tax expense |  | $ | 80,826 |  |  | $ | 33,691 |  |  | $ | 70,317 |
Components of Deferred Tax Assets and (Liabilities) | Deferred tax assets (liabilities) are comprised of the following (amounts in thousands):
|  | December 28, 2024 |  |  | December 30, 2023 |
Self-insurance |  | $ | 7,593 |  |  | $ | 8,478 |
Compensation and employee benefits |  |  | 10,844 |  |  |  | 10,292 |
Deferred income |  |  | 1,976 |  |  |  | 2,643 |
Loss and credit carryforwards |  |  | 13,065 |  |  |  | 13,111 |
Equity-based compensation |  |  | 7,554 |  |  |  | 8,636 |
Legal accrual |  |  | 5,855 |  |  |  | 33,407 |
Financing and operating lease right-of-use liabilities |  |  | 79,868 |  |  |  | 72,011 |
Capitalized software and research and development costs |  |  | 32,484 |  |  |  | 32,519 |
Other |  |  | 12,579 |  |  |  | 9,975 |
Valuation allowance |  |  | (3,387 | ) |  |  | (1,586 | )
Deferred tax assets |  |  | 168,431 |  |  |  | 189,486 |
Depreciation |  |  | (72,503 | ) |  |  | (77,931 | )
Intangibles |  |  | (132,506 | ) |  |  | (125,555 | )
Financing and operating lease right-of-use assets |  |  | (78,723 | ) |  |  | (69,987 | )
Hedging |  |  | (2,371 | ) |  |  | (322 | )
Pension and postretirement benefits |  |  | (137 | ) |  |  | (143 | )
Other |  |  | (6,424 | ) |  |  | (6,793 | )
Deferred tax liabilities |  |  | (292,664 | ) |  |  | (280,731 | )
Net deferred tax liability |  | $ | (124,233 | ) |  | $ | (91,245 | )

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