XML 60 R36.htm IDEA: XBRL DOCUMENT
v3.20.2

Note I - Income Taxes (Tables) | 12 Months Ended
--- | ---
Sep. 26, 2020
Notes Tables |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] |
|  | Fiscal year ended |
|  | September 26, |  |  | September 28, |  |  | September 29, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | (in thousands) |
Current |  |  |  |  |  |  |  |  |  |  |  |
U.S. Federal |  | $ | 1,992 |  |  | $ | 14,078 |  |  | $ | 16,591 |
Foreign |  |  | 193 |  |  |  | 2,111 |  |  |  | 2,512 |
State |  |  | (1,517 | ) |  |  | 5,971 |  |  |  | 5,836 |
Total current expense |  |  | 668 |  |  |  | 22,160 |  |  |  | 24,939 |
Deferred |  |  |  |  |  |  |  |  |  |  |  |
U.S. Federal |  | $ | 3,139 |  |  | $ | 6,285 |  |  | $ | (14,613 | )
Foreign |  |  | (536 | ) |  |  | 849 |  |  |  | 514 |
State |  |  | (110 | ) |  |  | 2,464 |  |  |  | 3,716 |
Total deferred expense (benefit) |  |  | 2,493 |  |  |  | 9,598 |  |  |  | (10,383 | )
Total expense |  | $ | 3,161 |  |  | $ | 31,758 |  |  | $ | 14,556 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] |
|  | Fiscal year ended |
|  | September 26, |  |  | September 28, |  |  | September 29, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  |  |  |  |  | (in thousands) |  |  |  |  |
Income taxes at federal statutory rates |  | $ | 4,508 |  |  | $ | 26,581 |  |  | $ | 28,947 |
Increase (decrease) in taxes resulting from: |  |  |  |  |  |  |  |  |  |  |  |
State income taxes, net of federal income tax benefit |  |  | (1,285 | ) |  |  | 6,664 |  |  |  | 7,212 |
Domestic production activities deduction |  |  | - |  |  |  | - |  |  |  | (1,470 | )
Impact of rate change due to Tax Cuts and Jobs Act |  |  | - |  |  |  | - |  |  |  | (20,670 | )
Impact of rate differential-current and deferred |  |  | - |  |  |  | - |  |  |  | (1,236 | )
One-time repatriation tax |  |  | - |  |  |  | (885 | ) |  |  | 1,200 |
Increase in gross unrecognized tax benefits |  |  | - |  |  |  | 20 |  |  |  | 20 |
Share based compensation |  |  | (183 | ) |  |  | (777 | ) |  |  | (696 | )
Non deductible employee compensation |  |  | - |  |  |  | 490 |  |  |  | 514 |
Other, net |  |  | 121 |  |  |  | (335 | ) |  |  | 735 |
Income tax expense |  | $ | 3,161 |  |  | $ | 31,758 |  |  | $ | 14,556 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] |
|  | September 26, |  |  | September 28, |
|  | 2020 |  |  | 2019 |
|  | (in thousands) |
Deferred tax assets |  |  |  |  |  |  |  |
Vacation accrual |  | $ | 1,460 |  |  | $ | 1,281 |
Capital loss carry forwards |  |  | 161 |  |  |  | 1,038 |
Unrealized gains/losses |  |  | 345 |  |  |  | - |
Insurance accrual |  |  | 3,060 |  |  |  | 2,454 |
Operating lease liabilities |  |  | 16,368 |  |  |  | - |
Deferred income |  |  | 105 |  |  |  | 485 |
Allowances |  |  | 2,863 |  |  |  | 1,554 |
Inventory capitalization |  |  | 1,058 |  |  |  | 994 |
Share-based compensation |  |  | 1,637 |  |  |  | 1,607 |
Net Operating Loss |  |  | 697 |  |  |  | 776 |
Plant shutdown impairment costs |  |  | 1,721 |  |  |  | - |
Foreign tax credit |  |  | 404 |  |  |  | - |
Total deferred tax assets |  |  | 29,879 |  |  |  | 10,189 |
Valuation allowance |  |  | (506 | ) |  |  | (1,038 | )
Total deferred tax assets, net |  |  | 29,373 |  |  |  | 9,151 |
Deferred tax liabilities |  |  |  |  |  |  |  |
Amortization of goodwill and other intangible assets |  |  | 29,587 |  |  |  | 27,267 |
Depreciation of property and equipment |  |  | 48,303 |  |  |  | 43,804 |
Operating lease right-of-use assets |  |  | 15,605 |  |  |  | - |
Accounting method change 481 (a) |  |  | 291 |  |  |  | - |
Total deferred tax liabilities |  |  | 93,786 |  |  |  | 71,071 |
Total deferred tax liabilities, net |  | $ | 64,413 |  |  | $ | 61,920 |

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=84230637&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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