XML 32 R18.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Income Taxes | 12 Months Ended
--- | ---
Dec. 30, 2023
Income Taxes |
Income Taxes | Note 9 Income Taxes ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(amounts in thousands) |  | 2023 |  | 2022 |  | 2021
Current: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | $ | 28,392 | ​ | $ | 28,536 | ​ | $ | 20,771
State | ​ | ​ | 9,521 | ​ | ​ | 7,896 | ​ | ​ | 6,374
Deferred: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | ​ | 955 | ​ | ​ | 3,191 | ​ | ​ | 8,074
State | ​ | ​ | 4,000 | ​ | ​ | (4,042) | ​ | ​ | 4,239
Total | ​ | $ | 42,868 | ​ | $ | 35,581 | ​ | $ | 39,458
​ The reconciliation of income taxes has been computed at the federal statutory rate of 21% in 2023, 2022 and 2021. Ending deferred tax liability has been computed at the federal statutory rate of 21%. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(amounts in thousands) |  | 2023 |  | 2022 |  | 2021
Income taxes at federal statutory rate | ​ | $ | 30,806 | ​ | $ | 33,763 | ​ | $ | 31,144
State income taxes, net of federal income tax benefit | ​ | ​ | 9,800 | ​ | ​ | 4,700 | ​ | ​ | 6,207
Nondeductible employee-related expenses | ​ | ​ | 2,709 | ​ | ​ | 2,235 | ​ | ​ | 2,530
State deferred rate change | ​ | ​ | — | ​ | ​ | (5,462) | ​ | ​ | -
Other | ​ | ​ | (448) | ​ | ​ | 345 | ​ | ​ | (423)
Provision for income taxes | ​ | $ | 42,868 | ​ | $ | 35,581 | ​ | $ | 39,458
​ The effective income tax rate was 29.2%, 22.1% and 26.6% in 2023, 2022, and 2021, respectively. The effective income tax rate differs from the federal statutory rate of 21% primarily due to state taxes as well as nondeductible employee-related expenses. The Company reduced its provision for income taxes by $5.5 million in 2022 primarily due to the effects of Pennsylvania House Bill 1342 which was enacted on July 8, 2022. The bill made significant changes to the Commonwealth’s corporate income tax laws which included lowering the tax rate gradually from 9.99% in 2022 to 4.99% in 2031. Cash paid for federal income taxes was $23.0 million, $29.4 million and $20.4 million in 2023, 2022 and 2021 respectively. Cash paid for state income taxes was $20.8 million, $8.0 million and $4.4 million in 2023, 2022 and 2021 respectively. Note 9 Income Taxes (continued) The tax effects of temporary differences that give rise to deferred tax assets and deferred tax liabilities at December 30, 2023 and December 31, 2022, are: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(amounts in thousands) |  | 2023 |  | 2022
Deferred tax assets: | ​ | ​ | ​ | ​ | ​ | ​
Accounts receivable | ​ | $ | 540 | ​ | $ | 1,195
Employment incentives | ​ | ​ | 4,855 | ​ | ​ | 6,329
Self-insurance liability | ​ | ​ | 9,155 | ​ | ​ | 8,717
Postretirement benefit obligations | ​ | ​ | 6,565 | ​ | ​ | 5,963
Net operating loss and credit carryforwards | ​ | ​ | 2,153 | ​ | ​ | 5,009
Unrecognized tax benefits | ​ | ​ | 1,341 | ​ | ​ | 2,869
174 R&D Capitalization | ​ | ​ | 2,307 | ​ | ​ | 426
Other | ​ | ​ | 683 | ​ | ​ | 675
Total deferred tax assets | ​ | ​ | 27,599 | ​ | ​ | 31,183
Deferred tax liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Inventories | ​ | ​ | (12,225) | ​ | ​ | (13,398)
Unrealized gains on marketable securities | ​ | ​ | (554) | ​ | ​ | 1,280
Prepaids | ​ | ​ | (6,290) | ​ | ​ | (5,570)
Depreciation | ​ | ​ | (126,621) | ​ | ​ | (124,720)
Total deferred tax liabilities | ​ | ​ | (145,690) | ​ | ​ | (142,408)
Net deferred tax liability | ​ | $ | (118,091) | ​ | $ | (111,225)
​ The following table summarizes the activity related to the Company’s unrecognized tax benefits: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(amounts in thousands) |  | 2023 |  | 2022
Unrecognized tax benefits at beginning of year | ​ | $ | 13,661 | ​ | $ | 10,036
Increases based on tax positions related to the current year | ​ | ​ | — | ​ | ​ | 2,376
Additions for tax positions of prior year | ​ | ​ | — | ​ | ​ | 1,249
Reductions for tax positions of prior years | ​ | ​ | (948) | ​ | ​ | —
Settlements | ​ | ​ | (6,329) | ​ | ​ | —
Expiration of the statute of limitations for assessment of taxes | ​ | ​ | — | ​ | ​ | —
Unrecognized tax benefits at end of year | ​ | $ | 6,384 | ​ | $ | 13,661
​ The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate was $0 in 2023, $3.6 million in 2022 and $1.7 million in 2021. The Company or one of its subsidiaries files tax returns in the United States and various state jurisdictions. The tax years subject to examination in the United States and in Pennsylvania, where the majority of the Company’s revenues are generated, are 2018 to 2023. The Company has net operating loss carryforwards of $14 million available for state income tax purposes. The net operating losses will begin to expire starting in 2027. The Company expects to fully utilize these net operating loss carryforwards.

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 The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480990/946-20-50-13 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//740/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-14 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-21 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 270 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482526/740-270-50-1 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 17 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-17 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482603/740-30-50-2 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration