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Note 10 - Income Taxes (Tables)

12 Months Ended

Sep. 28, 2024

Notes Tables

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

		Year Ended
		September 28,				September 30,				October 1,
(Dollars in thousands)		2024				2023				2022
Provision for income taxes:
Current:
Federal		$	1,425			$	8,320			$	33,377
State			362				782				3,012
			1,787				9,102				36,389
Deferred:
Federal			3,843				335				627
State			352				(97	)			(300	)
			4,195				238				327
Income taxes		$	5,982			$	9,340			$	36,716
Effective income tax rate			23.7	%			22.4	%			22.7	%

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

		Year Ended
(Dollars in thousands)		September 28, 2024								September 30, 2023								October 1, 2022
Provision for income taxes at federal statutory rate		$	5,310				21.0	%		$	8,768				21.0	%		$	33,963				21.0	%
State income taxes, net of federal tax benefit			518				2.0				548				1.3				2,108				1.3
Stock-based compensation			68				0.3				(55	)			(0.1	)			(255	)			(0.2	)
Valuation allowance			146				0.6				(29	)			(0.1	)			(41	)			(0.0	)
Nondeductible expenses and other, net			(60	)			(0.2	)			108				0.3				941				0.6
Provision for income taxes		$	5,982				23.7	%		$	9,340				22.4	%		$	36,716				22.7	%

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

		September 28,				September 30,
(In thousands)		2024				2023
Deferred tax assets:
Defined benefit plans		$	2,765			$	2,551
Accrued expenses and asset reserves			1,406				2,392
Stock-based compensation			1,423				1,288
R & E Capitalization			226				125
Operating lease liabilities			378				434
State net operating loss carryforwards and tax credits			3				158
Valuation allowance			(149	)			(3	)
Deferred tax assets			6,052				6,945
Deferred tax liabilities:
Plant and equipment			(15,090	)			(12,143	)
Prepaid insurance			(1,240	)			(1,123	)
Right-of-use assets			(381	)			(435	)
Goodwill			(976	)			(787	)
Deferred tax liabilities			(17,687	)			(14,488	)
Net deferred tax liability		$	(11,635	)		$	(7,543	)

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

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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

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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.

+ References

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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
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-Name Accounting Standards Codification
-Section 55
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