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Income Taxes (Tables) | 12 Months Ended
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Aug. 28, 2021
Income Tax Disclosure [Abstract] |
Schedule of Income Tax Expense | Income tax expense consisted of the following:
| 2021 |  | 2020 |  | 2019
Current |  |  |  |  |
Federal | $ | 71,579 |  |  | $ | 14,318 |  |  | $ | 16,433 |
State | 16,179 |  |  | 2,806 |  |  | 3,138 |
Total | 87,758 |  |  | 17,124 |  |  | 19,571 |
Deferred |  |  |  |  |
Federal | 737 |  |  | (790) |  |  | 6,395 |
State | (2,916) |  |  | (500) |  |  | 1,145 |
Total | (2,179) |  |  | (1,290) |  |  | 7,540 |
Provision for income taxes | $ | 85,579 |  |  | $ | 15,834 |  |  | $ | 27,111 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the U.S. statutory income tax rate to our effective income tax rate is as follows:
| 2021 |  | 2020 |  | 2019
U.S. federal statutory rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State taxes, net of federal benefit | 3.3 | % |  | 1.9 | % |  | 2.9 | %
Income tax credits | (0.6) | % |  | (2.5) | % |  | (4.5) | %
Nondeductible compensation | 0.5 | % |  | 0.9 | % |  | — | %
Tax-free and dividend income | (0.1) | % |  | (0.6) | % |  | (0.5) | %
Uncertain tax position settlements and adjustments | (0.1) | % |  | 0.1 | % |  | 0.9 | %
Other items | (0.7) | % |  | (0.3) | % |  | (0.3) | %
Effective tax provision rate | 23.3 | % |  | 20.5 | % |  | 19.5 | %
Schedule of Deferred Income Taxes | The tax effects of temporary differences that give rise to deferred income taxes were as follows:
| August 28, 2021 |  | August 29, 2020
Warranty reserves | $ | 22,450 |  |  | $ | 13,969 |
Deferred compensation | 5,224 |  |  | 5,406 |
Self-insurance reserve | 4,336 |  |  | 3,426 |
Stock-based compensation | 4,607 |  |  | 2,865 |
Leases | 8,422 |  |  | 8,638 |
Other(1) | 7,170 |  |  | 6,191 |
Total deferred tax assets | 52,209 |  |  | 40,495 |
Convertible notes | 2,608 |  |  | 3,125 |
Intangibles | 39,940 |  |  | 32,933 |
Depreciation | 15,161 |  |  | 11,715 |
Leases | 7,929 |  |  | 8,330 |
Total deferred tax liabilities | 65,638 |  |  | 56,103 |
Total deferred income tax liabilities, net | $ | 13,429 |  |  | $ | 15,608 |
(1) Other includes $400 and $500 related to state net operating losses as of August 28, 2021 and August 29, 2020, 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:
| 2021 |  | 2020 |  | 2019
Balance at beginning of year | $ | 5,830 |  |  | $ | 2,822 |  |  | $ | 1,220 |
Gross increases-tax positions in a prior year | — |  |  | 2,486 |  |  | 1,173 |
Gross decreases-tax positions in a prior year | (872) |  |  | — |  |  | — |
Gross increases-current year tax positions | 579 |  |  | 522 |  |  | 429 |
Balance at end of year | 5,537 |  |  | 5,830 |  |  | 2,822 |
Accrued interest and penalties | 946 |  |  | 681 |  |  | 769 |
Total unrecognized tax benefits | $ | 6,483 |  |  | $ | 6,511 |  |  | $ | 3,591 |

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- 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
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- 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
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- 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
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32840-109319 + Details
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