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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

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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 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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