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Note 10 - Income Taxes (Tables)

12 Months Ended

Sep. 30, 2023

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		Year Ended
		September 30,				October 1,				October 2,
(Dollars in thousands)		2023				2022				2021
Provision for income taxes:
Current:
Federal		$	8,320			$	33,377			$	17,904
State			782				3,012				1,707
			9,102				36,389				19,611
Deferred:
Federal			335				627				(180	)
State			(97	)			(300	)			62
			238				327				(118	)
Income taxes		$	9,340			$	36,716			$	19,493
Effective income tax rate			22.4	%			22.7	%			22.6	%

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		Year Ended
(Dollars in thousands)		September 30, 2023								October 1, 2022								October 2, 2021
Provision for income taxes at federal statutory rate		$	8,768				21.0	%		$	33,963				21.0	%		$	18,082				21.0	%
State income taxes, net of federal tax benefit			548				1.3				2,108				1.3				1,544				1.8
Stock-based compensation			(55	)			(0.1	)			(255	)			(0.2	)			(253	)			(0.3	)
Valuation allowance			(29	)			(0.1	)			(41	)			(0.0	)			(134	)			(0.2	)
Nondeductible expenses and other, net			108				0.3				941				0.6				254				0.3
Provision for income taxes		$	9,340				22.4	%		$	36,716				22.7	%		$	19,493				22.6	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		September 30,				October 1,
(In thousands)		2023				2022
Deferred tax assets:
Defined benefit plans		$	2,551			$	2,617
Accrued expenses and asset reserves			2,392				2,430
Stock-based compensation			1,288				1,176
R & E Capitalization			125				-
Operating lease liability			434				353
State net operating loss carryforwards and tax credits			158				142
Valuation allowance			(3	)			(32	)
Deferred tax assets			6,945				6,686
Deferred tax liabilities:
Plant and equipment			(12,143	)			(11,546	)
Prepaid insurance			(1,123	)			(1,279	)
Right of use assets			(435	)			(352	)
Goodwill			(787	)			(595	)
Deferred tax liabilities			(14,488	)			(13,772	)
Net deferred tax liability		$	(7,543	)		$	(7,086	)

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.

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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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