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v3.22.2.2

Income Taxes (Tables) | 12 Months Ended
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Sep. 30, 2022
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,
|  | 2020 |  |  | 2021 |  |  | 2022 |
|  | (Amounts in thousands) |
Income before income tax provision: |  |  |  |  |  |  |  |  |
United States |  | $ | 94,854 |  |  | $ | 202,643 |  |  | $ | 254,052 |
Other |  |  | 2,586 |  |  |  | 3,151 |  |  |  | 7,869 |
Total |  | $ | 97,440 |  |  | $ | 205,794 |  |  | $ | 261,921 |
Components of Income Taxes Provision | The components of our provision from income taxes consisted of the following for the fiscal years ended September 30,
|  | 2020 |  |  | 2021 |  |  | 2022 |
|  | (Amounts in thousands) |
Current provision: |  |  |  |  |  |  |  |  |
Federal |  | $ | 17,654 |  |  | $ | 38,028 |  |  | $ | 49,380 |
Foreign |  |  | 654 |  |  |  | 1,516 |  |  |  | 1,739 |
State |  |  | 1,365 |  |  |  | 6,527 |  |  |  | 11,004 |
Total current provision |  | $ | 19,673 |  |  | $ | 46,071 |  |  | $ | 62,123 |
Deferred provision: |  |  |  |  |  |  |  |  |
Federal |  | $ | 2,262 |  |  | $ | 4,201 |  |  | $ | 1,650 |
Foreign |  |  | — |  |  |  | — |  |  |  | — |
State |  |  | 871 |  |  |  | 543 |  |  |  | 159 |
Total deferred provision |  |  | 3,133 |  |  |  | 4,744 |  |  |  | 1,809 |
Total income tax provision |  | $ | 22,806 |  |  | $ | 50,815 |  |  | $ | 63,932 |
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,
|  | 2020 |  |  | 2021 |  |  | 2022 |
Federal tax provision |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | %
State taxes, net of federal benefit |  |  | 3.1 | % |  |  | 3.7 | % |  |  | 3.4 | %
Stock-based compensation |  |  | (0.5 | )% |  |  | (0.7 | )% |  |  | (0.6 | )%
Valuation allowance |  |  | (0.2 | )% |  |  | — |  |  |  | — |
Foreign rate differential |  |  | 0.1 | % |  |  | 0.1 | % |  |  | — |
Other |  |  | (0.1 | )% |  |  | 0.6 | % |  |  | 0.6 | %
Effective tax rate |  |  | 23.4 | % |  |  | 24.7 | % |  |  | 24.4 | %
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,
|  | 2021 |  |  | 2022 |
|  | (Amounts in thousands) |
Deferred tax assets: |  |  |  |  |  |
Inventories |  | $ | 771 |  |  | $ | 831 |
Operating lease liabilities |  |  | 25,924 |  |  |  | 23,323 |
Accrued expenses |  |  | 1,225 |  |  |  | 889 |
Stock-based compensation |  |  | 2,810 |  |  |  | 4,147 |
Tax loss carryforwards |  |  | 667 |  |  |  | 599 |
Other |  |  | 852 |  |  |  | 1,154 |
Total long-term deferred tax assets |  | $ | 32,249 |  |  | $ | 30,943 |
Deferred tax liabilities: |  |  |  |  |  |
Depreciation and amortization |  |  | (16,226 | ) |  |  | (22,369 | )
Operating lease right-of-use assets |  |  | (25,291 | ) |  |  | (22,733 | )
Other |  |  | — |  |  |  | (1,242 | )
Total long-term deferred tax liabilities |  | $ | (41,517 | ) |  | $ | (46,344 | )
Net deferred tax liabilities |  | $ | (9,268 | ) |  | $ | (15,401 | )

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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 https://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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
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