XML 53 R36.htm IDEA: XBRL DOCUMENT
v3.21.2

Income Taxes (Tables) | 12 Months Ended
--- | ---
Sep. 25, 2021
Income Tax Disclosure [Abstract] |
Schedule of Provision for Income Tax Expense (Benefit) | The provision for income tax expense (benefit) consists of the following:
| Fiscal Year Ended
| September 25, 2021 |  | September 26, 2020 |  | September 28, 2019
| (in thousands)
Current: |  |  |  |  |
Federal | $ | 49,941 |  |  | $ | 33,775 |  |  | $ | 17,048 |
State | 6,193 |  |  | 5,063 |  |  | 2,728 |
Foreign | 645 |  |  | (5) |  |  | 169 |
Total | 56,779 |  |  | 38,833 |  |  | 19,945 |
Deferred: |  |  |  |  |
Federal | (14,740) |  |  | (6,019) |  |  | 4,278 |
State | (690) |  |  | (582) |  |  | 2,380 |
Foreign | 686 |  |  | (14) |  |  | 1 |
Total | (14,744) |  |  | (6,615) |  |  | 6,659 |
Total | $ | 42,035 |  |  | $ | 32,218 |  |  | $ | 26,604 |
Schedule of Reconciliation of the Statutory Federal Income Tax Rate to the Company's Effective Income Tax Rate | A reconciliation of the statutory federal income tax rate to the Company’s effective income tax rate is as follows:
| Fiscal Year Ended
| September 25, 2021 |  | September 26, 2020 |  | September 28, 2019
Statutory federal income tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State income taxes, net of federal benefit | 2.2 |  |  | 2.3 |  |  | 4.3 |
Other permanent differences | 0.1 |  |  | — |  |  | 0.7 |
Adjustment of prior year accruals | (0.1) |  |  | (0.2) |  |  | (0.6) |
Credits | (0.4) |  |  | (0.6) |  |  | (0.9) |
Stock based compensation | (1.4) |  |  | (1.4) |  |  | (1.6) |
Other | 0.2 |  |  | (0.1) |  |  | (0.6) |
Effective income tax rate | 21.6 | % |  | 21.0 | % |  | 22.3 | %
Schedule of Tax Effect of Temporary Differences and Carryforwards which Give Rise to Deferred Tax Assets and Liabilities | The tax effect of temporary differences and carryforwards which give rise to deferred tax assets and liabilities are as follows:
| September 25, 2021 |  | September 26, 2020
| Deferred Tax Assets |  | Deferred Tax Liabilities |  | Deferred Tax Assets |  | Deferred Tax Liabilities
| (in thousands)
Allowance for doubtful accounts | $ | 6,991 |  |  | $ | — |  |  | $ | 6,618 |  |  | $ | — |
Inventory write-downs | 10,377 |  |  | — |  |  | 8,624 |  |  | — |
Prepaid expenses | — |  |  | 1,928 |  |  | — |  |  | 1,603 |
Nondeductible reserves | 9,532 |  |  | — |  |  | 9,484 |  |  | — |
State taxes | 105 |  |  | — |  |  | 505 |  |  | — |
Employee benefits | 15,831 |  |  | — |  |  | 12,913 |  |  | — |
Depreciation and amortization | — |  |  | 104,829 |  |  | — |  |  | 85,302 |
Equity loss | 179 |  |  | — |  |  | 2,047 |  |  | — |
State net operating loss carryforward | 7,155 |  |  | — |  |  | 5,652 |  |  | — |
Stock based compensation | 7,003 |  |  | — |  |  | 4,743 |  |  | — |
State credits | 2,764 |  |  | — |  |  | 2,732 |  |  | — |
Other | 1,034 |  |  | — |  |  | 1,774 |  |  | — |
Valuation allowance | (7,031) |  |  | — |  |  | (7,124) |  |  | — |
Total | $ | 53,940 |  |  | $ | 106,757 |  |  | $ | 47,968 |  |  | $ | 86,905 |
Schedule of Activity Related to Company's Unrecognized Tax Benefits | The following table summarizes the activity related to the Company’s unrecognized tax benefits for fiscal years ended September 25, 2021 and September 26, 2020:
| (in thousands)
Balance as of September 28, 2019 | $ | 483 |
Increases related to prior year tax positions | — |
Increases related to current year tax positions | 80 |
Decreases related to prior year tax positions | — |
Settlements | — |
Decreases related to lapse of statute of limitations | (236) |
Balance as of September 26, 2020 | $ | 327 |
Increases related to prior year tax positions | 47 |
Increases related to current year tax positions | 85 |
Decreases related to prior year tax positions | — |
Settlements | (43) |
Decreases related to lapse of statute of limitations | (74) |
Balance as of September 25, 2021 | $ | 342 |

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://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
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://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
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://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
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 -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=124434304&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -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 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration