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Income Taxes (Tables)

12 Months Ended

Dec. 30, 2022

Income Tax Disclosure [Abstract]

Schedule of provision for income taxes

The provision for income taxes consists of the following:

						Fiscal Year Ended
						December 30, 2022						December 24, 2021						December 25, 2020
Current income tax expense (benefit):
Federal						$	1,665					$	(285)					$	(21,877)
Foreign						208						—						—
State						2,665						277						(408)
Total current income tax expense (benefit)						4,538						(8)						(22,285)
Deferred income tax expense (benefit):
Federal						9,571						(2,002)						(10,740)
Foreign						(4)						(22)						50
State						34						179						(7,728)
Total deferred income tax expense (benefit)						9,601						(1,845)						(18,418)
Total income tax expense (benefit)						$	14,139					$	(1,853)					$	(40,703)

In response to the Pandemic, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was signed into law on March 27, 2020. Among other provisions it allows for the carryback of federal net operating losses generated in 2020 to five preceding years and a refundable Employee Retention Tax Credit (“ERTC”) to eligible employers. The Company’s fiscal 2020 income tax provision reflects the impact of an expected income tax refund receivable of $21,250 which is reflected in prepaid expenses and other current assets on the Company’s consolidated balance sheets as of December 30, 2022 and December 24, 2021, as a result of the five year carryback allowed under the CARES Act. During the second quarter of fiscal 2021, the Company recognized a receivable of $1,418 related to the ERTC which is presented within prepaid expenses and other current assets on the consolidated balance sheet and the related expense reduction is presented within selling, general and administrative expenses on the consolidated statements of operations.

The IRS is experiencing significant processing delays driven by an increase in net operating loss carryback requests as a result of the CARES Act, along with other factors. As a result, the processing and expected receipt of the federal income tax refund receivable and ERTC receivable have been significantly delayed. The Company is currently working with IRS Taxpayer’s

Advocate Services and consultants to resolve the processing issue. While progress has been made with the IRS and the Company expects to receive the refunds within one year, the exact timing of receipt is difficult to predict.

Schedule of income tax reconciliation

Income tax expense (benefit) differed from amounts computed using the statutory federal income tax rate due to the following reasons: 

						Fiscal Year Ended
						December 30, 2022						December 24, 2021						December 25, 2020
Statutory U.S. Federal tax						$	8,797					$	(1,423)					$	(25,957)
Differences due to:
State and local taxes, net of federal benefit						3,251						(396)						(6,414)
Change in valuation allowance						(405)						(215)						1,354
Foreign rate differential						(560)						—						—
Loss on debt extinguishment						2,982						—						—
Acquisition costs						472						—						—
Federal NOL rate differential						—						—						(5,212)
Stock compensation						(170)						(361)						(102)
Other						(228)						542						(4,372)
Income tax expense (benefit)						$	14,139					$	(1,853)					$	(40,703)

Schedule of deferred tax assets and liabilities

Deferred tax assets and liabilities at December 30, 2022 and December 24, 2021 consist of the following: 

						December 30, 2022						December 24, 2021
Deferred tax assets:
Receivables and inventory						$	10,574					$	9,425
Self-insurance reserves						2,846						2,211
Net operating loss carryforwards						5,374						15,177
Interest expense carryforward						7,671						—
Stock compensation						4,629						3,246
Intangible assets						2,796						5,210
Charitable contribution carryforward						2,569						3,865
Operating lease liabilities						44,495						39,335
Other						527						3,072
Total deferred tax assets						81,481						81,541
Deferred tax liabilities:
Property & equipment						(15,602)						(7,808)
Goodwill						(25,539)						(24,529)
Intangible assets						(3,439)						—
Prepaid expenses and other						(907)						(1,916)
Operating lease right-of-use assets						(40,451)						(35,862)
Total deferred tax liabilities						(85,938)						(70,115)
Valuation allowance						(1,641)						(2,046)
Total net deferred tax (liability) asset						$	(6,098)					$	9,380

Schedule of operating (loss) income before income taxes for foreign subsidiaries

The components of the Company’s operating income (loss) before income taxes consist of the following:

						Fiscal Year Ended
						December 30, 2022						December 24, 2021						December 25, 2020
Domestic						$	40,428					$	(4,356)					$	(119,375)
Foreign						1,461						(2,420)						(4,231)
Total						$	41,889					$	(6,776)					$	(123,606)

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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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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.

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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.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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