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Income Taxes (Tables) | 12 Months Ended
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Dec. 25, 2021
Income Tax Disclosure [Abstract] |
Significant Components of Income Tax (Benefit) Provision | Significant components of the income tax (benefit) provision are as follows:
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | (in thousands) |
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | (4,473 | ) |  | $ | 25,115 |  |  | $ | 18,510 |
State |  |  | 2,078 |  |  |  | 9,455 |  |  |  | 8,084 |
Total current |  |  | (2,395 | ) |  |  | 34,570 |  |  |  | 26,594 |
Deferred: |  |  |  |  |  |  |  |  |
Federal |  |  | (2,762 | ) |  |  | 16,363 |  |  |  | 8,081 |
State |  |  | (2,487 | ) |  |  | 1,337 |  |  |  | (346 | )
Total deferred |  |  | (5,249 | ) |  |  | 17,700 |  |  |  | 7,735 |
Total income tax (benefit) provision |  | $ | (7,644 | ) |  | $ | 52,270 |  |  | $ | 34,329 |
Reconciliations to Statutory Rates | The reconciliations to statutory rates are as follows:
|  | 2021 |  |  | 2020 |  |  | 2019 |
Statutory rate |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | %
State income taxes, net of federal benefit |  |  | 11.0 |  |  |  | 4.4 |  |  |  | 4.6 |
Deduction relating to excess stock based compensation |  |  | (153.8 | ) |  |  | (4.3 | ) |  |  | (3.2 | )
Non-deductible meals & entertainment |  |  | 5.6 |  |  |  | 0.2 |  |  |  | 0.7 |
Change in unrecognized tax benefits (including interest and penalty) |  |  | (8.7 | ) |  |  | — |  |  |  | — |
Federal and state provision to return |  |  | (7.1 | ) |  |  | (0.1 | ) |  |  | (0.3 | )
Change in valuation allowance |  |  | 21.9 |  |  |  | 0.1 |  |  |  | 0.4 |
Other |  |  | (0.6 | ) |  |  | 0.1 |  |  |  | 0.6 |
|  |  | (110.7 | )% |  |  | 21.4 | % |  |  | 23.8 | %
Significant Components of Company's Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets and liabilities are as follows at:
|  | December 25, 2021 |  |  | December 26, 2020 |
|  | (in thousands) |
Deferred tax assets: |  |  |  |  |  |
Lease Liabilities |  | $ | 16,236 |  |  | $ | 17,951 |
Inventory |  |  | 14,343 |  |  |  | 4,114 |
Stock-based compensation expense |  |  | 6,713 |  |  |  | 5,568 |
Loss carryforwards |  |  | 3,859 |  |  |  | — |
Accrued expenses |  |  | 3,449 |  |  |  | 1,581 |
Accrued commitments for inventory at vendor locations |  |  | 2,607 |  |  |  | — |
Tax credit carryforwards |  |  | 1,874 |  |  |  | 774 |
Accrued destruction costs |  |  | 1,538 |  |  |  | — |
Accrued noncancellable purchase orders for cancelled projects |  |  | 1,134 |  |  |  | — |
Other |  |  | 1,569 |  |  |  | 1,439 |
Total deferred tax assets |  |  | 53,322 |  |  |  | 31,427 |
Valuation allowance |  |  | (3,341 | ) |  |  | (2,022 | )
Total deferred tax assets net of valuation allowance |  |  | 49,981 |  |  |  | 29,405 |
Deferred tax liabilities: |  |  |  |  |  |
Property, plant and equipment |  |  | (102,696 | ) |  |  | (88,947 | )
Right-of-use assets |  |  | (14,035 | ) |  |  | (15,695 | )
Amortization |  |  | (15,024 | ) |  |  | (12,900 | )
Prepaid expenses |  |  | (5,721 | ) |  |  | (4,528 | )
Total deferred tax liabilities |  |  | (137,476 | ) |  |  | (122,070 | )
Net deferred tax liabilities |  | $ | (87,495 | ) |  | $ | (92,665 | )
Reconciliation of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
|  | 2021 |  |  | 2020 |
|  | (in thousands) |
Balance at beginning of year |  | $ | 812 |  |  | $ | 811 |
Increases related to current year tax positions |  |  | 59 |  |  |  | — |
Increases related to prior year tax positions |  |  | 36 |  |  |  | 13 |
Decreases related to lapse of statute of limitations |  |  | (675 | ) |  |  | (12 | )
Balance at end of year |  | $ | 232 |  |  | $ | 812 |

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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 http://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 http://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 http://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 http://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 http://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 http://asc.fasb.org/extlink&oid=121826272&loc=d3e32840-109319 + Details
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