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Income Taxes (Tables)

12 Months Ended

Sep. 30, 2021

Income Tax Disclosure [Abstract]

Summary of Income Before Income Tax Provision

Income before income tax provision consisted of the following components for the fiscal years ended September 30,

		2019				2020				2021
		(Amounts in thousands)
Income before income tax provision:
United States		$	46,986			$	94,854			$	202,643
Other			1,967				2,586				3,151
Total		$	48,953			$	97,440			$	205,794

Components of Income Taxes Provision

The components of our provision from income taxes consisted of the following for the fiscal years ended September 30,

		2019				2020				2021
		(Amounts in thousands)
Current provision:
Federal		$	7,933			$	17,654			$	38,028
Foreign			516				654				1,516
State			135				1,365				6,527
Total current provision		$	8,584			$	19,673			$	46,071
Deferred provision:
Federal		$	2,285			$	2,262			$	4,201
Foreign			—				—				—
State			2,099				871				543
Total deferred provision			4,384				3,133				4,744
Total income tax provision		$	12,968			$	22,806			$	50,815

Summary of Tax Rates

Below is a reconciliation of the statutory federal income tax rate to our effective tax rate for the fiscal years ended September 30,

		2019				2020				2021
Federal tax provision			21.0	%			21.0	%			21.0	%
State taxes, net of federal benefit			4.1	%			3.1	%			3.7	%
Stock-based compensation			—				(0.5	)%			(0.7	)%
Valuation allowance			(0.1	)%			(0.2	)%			—
Foreign rate differential			0.2	%			0.1	%			0.1	%
Other			1.3	%			(0.1	)%			0.6	%
Effective tax rate			26.5	%			23.4	%			24.7	%

Components of Deferred Tax Assets

Deferred income taxes reflect the impact of temporary differences between the amount of assets and liabilities recognized for financial reporting purposes and such amounts recognized for income tax purposes. The tax effects of these temporary differences representing the components of deferred tax assets as of September 30,

		2020				2021
		(Amounts in thousands)
Deferred tax assets:
Inventories		$	808			$	771
Operating lease liabilities			9,926				25,924
Accrued expenses			640				1,225
Stock-based compensation			2,170				2,810
Tax loss carryforwards			810				667
Other			268				852
Total long-term deferred tax assets		$	14,622			$	32,249
Deferred tax liabilities:
Depreciation and amortization			(9,095	)			(16,226	)
Operating lease right-of-use assets			(10,036	)			(25,291	)
Total long-term deferred tax liabilities		$	(19,131	)		$	(41,517	)
Net deferred tax liabilities		$	(4,509	)		$	(9,268	)

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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 of income before income tax between domestic and foreign jurisdictions.

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