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Income Taxes | 12 Months Ended
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Mar. 26, 2022
Income Taxes [Abstract] |
Income Taxes | Note 9 – Income Taxes
Provision for Income Taxes |  |  |  |  |  |  |  |  |
(thousands) |  |  | 2022 |  |  | 2021 |  |  | 2020
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | 256 |  | $ | (1,809) |  | $ | 2,783
State |  |  | 1,442 |  |  | 827 |  |  | 1,994
Total current |  |  | 1,698 |  |  | (982) |  |  | 4,777
Deferred: |  |  |  |  |  |  |  |  |
Federal |  |  | 12,602 |  |  | 10,169 |  |  | 11,397
State |  |  | 1,417 |  |  | 685 |  |  | 76
Total deferred |  |  | 14,019 |  |  | 10,854 |  |  | 11,473
Total provision |  | $ | 15,717 |  | $ | 9,872 |  | $ | 16,250
Income Tax Rate Reconciliation |  | 2022 |  |  | 2021 |  |  | 2020 |
Expected U.S. federal income taxes at statutory rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State income taxes, net of federal tax benefit |  | 3.0 |  |  | 2.9 |  |  | 1.9 |
Tax adjustments (a) |  | (4.0) |  |  | (1.1) |  |  | — |
Other |  | 0.3 |  |  | (0.5) |  |  | (1.0) |
Effective tax rate |  | 20.3 | % |  | 22.3 | % |  | 21.9 | %
(a)Adjustments reflect benefit due to differences in statutory tax rates from a loss year to years in which such net operating loss may be carried back. As provided under the CARES Act, a taxpayer must carry net operating losses generated in certain tax years to the earliest tax year in the five-year carryback period. However, these net operating losses are not subject to the 80% of income limitation if they are exhausted during the five-year carryback. Under this provision, Monro has carried back a net operating loss generated in fiscal 2021 to carryback years within the five-year carryback period with a 35% U.S. federal statutory tax rate.
Net Deferred Tax Asset/(Liability) |  |  |  |  |  |
(thousands) |  |  | March 26, 2022 |  |  | March 27, 2021
Gross deferred tax assets: |  |  |  |  |  |
Lease liabilities |  | $ | 187,559 |  | $ | 186,168
Other |  |  | 26,382 |  |  | 26,723
Total gross deferred tax assets |  |  | 213,941 |  |  | 212,891
Gross deferred tax liabilities: |  |  |  |  |  |
Leased assets |  |  | (147,764) |  |  | (148,496)
Goodwill |  |  | (66,153) |  |  | (56,623)
Property and equipment |  |  | (22,251) |  |  | (21,032)
Other |  |  | (1,180) |  |  | (910)
Total deferred tax liabilities |  |  | (237,348) |  |  | (227,061)
Total net deferred tax liability |  | $ | (23,407) |  | $ | (14,170)
We have $8.7 million of state net operating loss carryforwards available as of March 26, 2022. The state net operating loss carryforwards expire in varying amounts through 20 42. We evaluate the realizability of our deferred tax assets on a quarterly basis and establish valuation allowances when it is more likely than not that all or a portion of a deferred tax asset may not be realized. As of March 26, 2022, we concluded, based on the weight of all available positive and negative evidence, that all our deferred tax assets are more likely than not to be realized.
Changes in Liability for Unrecognized Tax Benefits |  |  |  |  |  |  |  |  |
(thousands) |  |  | 2022 |  |  | 2021 |  |  | 2020
Balance at beginning of period |  | $ | 5,035 |  | $ | 5,212 |  | $ | 6,424
Additions based on tax positions related to the current year |  |  | 1,271 |  |  | 915 |  |  | 644
Additions for tax positions of prior years |  |  | 49 |  |  | — |  |  | —
Reductions for tax positions of prior years |  |  | — |  |  | — |  |  | (30)
Settlements |  |  | — |  |  | — |  |  | —
Lapse in statutes of limitation |  |  | (1,349) |  |  | (1,092) |  |  | (1,826)
Balance at end of period |  | $ | 5,006 |  | $ | 5,035 |  | $ | 5,212
The total amount of unrecognized tax benefits was $5.0 million, $5.0 million, and $5.2 million at March 26, 2022, March 27, 2021, and March 28, 2020, respectively, the majority of which, if recognized, would affect the effective tax rate. In the normal course of business, Monro provides for uncertain tax positions and the related interest and penalties and adjusts its unrecognized tax benefits and accrued interest and penalties and, accordingly, we had approximately $0.1 million and $0.2 million of interest and penalties associated with uncertain tax benefits accrued as of March 26, 2022 and March 27, 2021, respectively. We file U.S. federal income tax returns and income tax returns in certain state jurisdictions. Our U.S. federal 2019 – 2021 and various state tax years remain subject to income tax examinations by tax authorities.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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