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Income Taxes (Tables)

12 Months Ended

Aug. 29, 2020

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense

Income tax expense consisted of the following:

(in thousands)			2020						2019						2018
Current
Federal			$	14,318					$	16,433					$	28,874
State			2,806						3,138						5,215
Total			17,124						19,571						34,089
Deferred
Federal			(790)						6,395						5,123
State			(500)						1,145						1,071
Total			(1,290)						7,540						6,194
Provision for income taxes			$	15,834					$	27,111					$	40,283

Schedule of Effective Income Tax Rate Reconciliation

The following table provides a reconciliation of the U.S. statutory income tax rate to the Company's effective income tax rate:

			2020						2019						2018
U.S. federal statutory rate(1)			21.0		%				21.0		%				25.9		%
State taxes, net of federal benefit			1.9		%				2.9		%				3.0		%
Impact from Tax Act			—		%				—		%				2.6		%
Domestic production activities deduction			—		%				—		%				(2.2)		%
Income tax credits			(2.5)		%				(4.5)		%				(0.5)		%
Nondeductible compensation			0.9		%				—		%				—		%
Tax-free and dividend income			(0.6)		%				(0.5)		%				(0.4)		%
Uncertain tax position settlements and adjustments			0.1		%				0.9		%				0.1		%
Other items			(0.3)		%				(0.3)		%				(0.3)		%
Effective tax provision rate			20.5		%				19.5		%				28.2		%

(1)    The U.S. federal statutory rate for Fiscal 2018 is a blended rate, which includes the impact of the Tax Cuts and Jobs Act (the "Tax Act") enactment.

Schedule of Deferred Income Taxes

The tax effects of temporary differences that give rise to deferred income taxes were as follows:

(in thousands)			August 29, 2020						August 31, 2019
Warranty reserves			$	13,969					$	10,949
Deferred compensation			5,406						3,989
Self-insurance reserve			3,426						2,617
Stock-based compensation			2,865						2,558
Accrued vacation			1,681						1,227
Unrecognized tax benefit			498						444
Inventory			717						—
Leases			8,638						—
Other(1)			3,295						3,337
Total deferred tax assets			40,495						25,121
Convertible notes			3,125						—
Intangibles			32,933						28,055
Depreciation			11,715						8,192
Inventory			—						906
Leases			8,330						—
Total deferred tax liabilities			56,103						37,153
Total deferred income tax liabilities, net			$	15,608					$	12,032

(1)    At August 29, 2020, other includes $0.5 million related to state net operating losses. At August 31, 2019, other includes $0.6 million and $0.4 million related to federal and state net operating losses, respectively. These net operating losses are subject to various expiration periods from 5 years to no expiration. We have evaluated all the positive and negative evidence and consider it more likely than not that these carryforwards can be realized before expiration.

Schedule of Unrecognized Tax Benefits

Changes in the unrecognized tax benefits are as follows:

(in thousands)			2020						2019						2018
Balance at beginning of year			$	2,822					$	1,220					$	1,195
Gross increases-tax positions in a prior year			2,486						1,173						25
Gross increases-current year tax positions			522						429						—
Balance at end of year			5,830						2,822						1,220
Accrued interest and penalties			681						769						525
Total unrecognized tax benefits			$	6,511					$	3,591					$	1,745

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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 for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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