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Income Taxes (Tables)

12 Months Ended

Sep. 24, 2022

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 24, 2022						September 25, 2021						September 26, 2020
			(in thousands)
Current:
Federal			$	11,391					$	49,941					$	33,775
State			4,418						6,193						5,063
Foreign			2,297						645						(5)
Total			18,106						56,779						38,833
Deferred:
Federal			27,276						(14,740)						(6,019)
State			1,710						(690)						(582)
Foreign			(858)						686						(14)
Total			28,128						(14,744)						(6,615)
Total			$	46,234					$	42,035					$	32,218

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 24, 2022						September 25, 2021						September 26, 2020
Statutory federal income tax rate			21.0		%				21.0		%				21.0		%
State income taxes, net of federal benefit			2.5						2.2						2.3
Other permanent differences			0.4						0.1						—
Adjustment of prior year accruals			0.2						(0.1)						(0.2)
Credits			(0.5)						(0.4)						(0.6)
Stock based compensation			(0.5)						(1.4)						(1.4)
Other			0.1						0.2						(0.1)
Effective income tax rate			23.2		%				21.6		%				21.0		%

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 24, 2022												September 25, 2021
			Deferred Tax Assets						Deferred Tax Liabilities						Deferred Tax Assets						Deferred Tax Liabilities
			(in thousands)
Allowance for doubtful accounts			$	6,286					$	—					$	6,991					$	—
Inventory write-downs			14,413						—						10,377						—
Prepaid expenses			—						1,787						—						1,928
Nondeductible reserves			8,898						—						9,532						—
State taxes			—						279						105						—
Employee benefits			9,799						—						15,831						—
Depreciation and amortization			—						194,225						—						104,829
Equity earnings			—						564						179						—
State net operating loss carryforward			6,415						—						7,155						—
Stock based compensation			7,330						—						7,003						—
State credits			2,979						—						2,764						—
Other			966						—						1,034						—
Valuation allowance			(6,734)						—						(7,031)						—
Total			$	50,352					$	196,855					$	53,940					$	106,757

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 24, 2022 and September 25, 2021:  

			(in thousands)
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
Increases related to prior year tax positions			22
Increases related to current year tax positions			110
Decreases related to prior year tax positions			—
Settlements			—
Decreases related to lapse of statute of limitations			(92)
Balance as of September 24, 2022			$	382

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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 the change in unrecognized tax benefits.

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