XML 55 R42.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 28, 2024
Income Tax Disclosure [Abstract] |
Significant Components of Income Tax (Benefit) Provision | Significant components of the income tax provision (benefit) for fiscal 2024, 2023, and 2022 were as follows:
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (in thousands) |
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | 37,971 |  |  | $ | 36,556 |  |  | $ | 10,453 |
State |  |  | 9,880 |  |  |  | 7,650 |  |  |  | 4,683 |
Total current |  |  | 47,851 |  |  |  | 44,206 |  |  |  | 15,136 |
Deferred: |  |  |  |  |  |  |  |  |
Federal |  |  | (17,175 | ) |  |  | (10,816 | ) |  |  | 8,196 |
State |  |  | (2,769 | ) |  |  | (52 | ) |  |  | 841 |
Total deferred |  |  | (19,944 | ) |  |  | (10,868 | ) |  |  | 9,037 |
Total income tax provision |  | $ | 27,907 |  |  | $ | 33,338 |  |  | $ | 24,173 |
Reconciliations to Statutory Rates | The reconciliations to statutory rates for fiscal 2024, 2023, and 2022 were as follows:
|  | 2024 |  |  | 2023 |  |  | 2022 |
Statutory rate |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | %
State income taxes, net of federal benefit |  |  | 5.5 |  |  |  | 4.8 |  |  |  | 4.1 |
Non-deductible compensation under Internal Revenue Code Section 162(m) |  |  | 1.1 |  |  |  | 3.4 |  |  |  | 0.2 |
Non-deductible meals & entertainment |  |  | 2.1 |  |  |  | 1.2 |  |  |  | 0.6 |
Change in valuation allowance |  |  | 3.0 |  |  |  | 1.0 |  |  |  | 1.2 |
Deduction relating to excess stock-based compensation |  |  | 0.6 |  |  |  | 0.1 |  |  |  | (0.9 | )
Other |  |  | (1.4 | ) |  |  | (1.1 | ) |  |  | 0.2 |
|  |  | 31.9 | % |  |  | 30.4 | % |  |  | 26.4 | %
Significant Components of Company's Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets and liabilities were as follows at:
|  | December 28, 2024 |  |  | December 30, 2023 |
|  | (in thousands) |
Deferred tax assets: |  |  |  |  |  |
Lease liabilities |  | $ | 9,669 |  |  | $ | 12,034 |
Stock-based compensation expense |  |  | 9,415 |  |  |  | 8,062 |
Accrued expenses |  |  | 3,714 |  |  |  | 4,146 |
Inventory reserves |  |  | 8,282 |  |  |  | 4,689 |
Loss carryforwards and tax credit carryforwards |  |  | 3,216 |  |  |  | 2,553 |
Capitalized research and development |  |  | 3,598 |  |  |  | 2,954 |
Intangible assets amortization |  |  | 433 |  |  |  | — |
Other |  |  | 1,710 |  |  |  | 1,091 |
Total deferred tax assets |  |  | 40,037 |  |  |  | 35,529 |
Valuation allowance |  |  | (8,203 | ) |  |  | (5,808 | )
Total deferred tax assets, net of valuation allowance |  |  | 31,834 |  |  |  | 29,721 |
Deferred tax liabilities: |  |  |  |  |  |
Property, plant, and equipment |  |  | (84,081 | ) |  |  | (90,372 | )
Right-of-use assets |  |  | (7,643 | ) |  |  | (9,590 | )
Intangible assets amortization |  |  | — |  |  |  | (8,244 | )
Prepaid expenses |  |  | (5,913 | ) |  |  | (7,236 | )
Total deferred tax liabilities |  |  | (97,637 | ) |  |  | (115,442 | )
Net deferred tax liabilities |  | $ | (65,803 | ) |  | $ | (85,721 | )
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | A reconciliation of the beginning and ending amount of unrecognized tax benefits for fiscal 2024 and 2023 was as follows:
|  | 2024 |  |  | 2023 |
|  | (in thousands) |
Balance at beginning of period |  | $ | 303 |  |  | $ | 243 |
Increases related to current period tax positions |  |  | 33 |  |  |  | 69 |
Increases related to prior period tax positions |  |  | 309 |  |  |  | 4 |
Decreases related to lapse of statute of limitations |  |  | (165 | ) |  |  | (13 | )
Balance at end of period |  | $ | 480 |  |  | $ | 303 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration