XML 46 R31.htm IDEA: XBRL DOCUMENT
v3.23.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Mar. 25, 2023
Income Taxes [Abstract] |
Components of the Provision for Income Taxes |
Provision for Income Taxes |  |  |  |  |  |  |  |  |
(thousands) |  |  | 2023 |  |  | 2022 |  |  | 2021
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | 11,174 |  | $ | 256 |  | $ | (1,809)
State |  |  | 2,703 |  |  | 1,442 |  |  | 827
Total current |  |  | 13,877 |  |  | 1,698 |  |  | (982)
Deferred: |  |  |  |  |  |  |  |  |
Federal |  |  | 1,855 |  |  | 12,602 |  |  | 10,169
State |  |  | 2,387 |  |  | 1,417 |  |  | 685
Total deferred |  |  | 4,242 |  |  | 14,019 |  |  | 10,854
Total provision |  | $ | 18,119 |  | $ | 15,717 |  | $ | 9,872
Reconciliation Between Federal Statutory Tax Rate and Effective Tax Rate Reflected in Accompanying Financial Statements |
Income Tax Rate Reconciliation |  | 2023 |  |  | 2022 |  |  | 2021 |
Expected U.S. federal income taxes at statutory rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State income taxes, net of federal tax benefit |  | 4.9 |  |  | 3.0 |  |  | 2.9 |
Tax adjustments (a) |  | 5.3 |  |  | (4.0) |  |  | (1.1) |
Other |  | 0.5 |  |  | 0.3 |  |  | (0.5) |
Effective tax rate |  | 31.7 | % |  | 20.3 | % |  | 22.3 | %
(a)The 2023 adjustments reflect expense due to the sale of our wholesale tire locations and tire distribution assets as well as the revaluation of deferred tax balances due to changes in the mix of pre-tax income in various U.S. state jurisdictions because of the sale. The 2022 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.
Deferred Tax (Liabilities) Assets |
Net Deferred Tax Asset/(Liability) |  |  |  |  |  |
(thousands) |  |  | March 25, 2023 |  |  | March 26, 2022
Gross deferred tax assets: |  |  |  |  |  |
Lease liabilities |  | $ | 174,055 |  | $ | 187,559
Other |  |  | 25,958 |  |  | 26,382
Total gross deferred tax assets |  |  | 200,013 |  |  | 213,941
Gross deferred tax liabilities: |  |  |  |  |  |
Leased assets |  |  | (136,057) |  |  | (147,764)
Goodwill |  |  | (70,145) |  |  | (66,153)
Property and equipment |  |  | (20,631) |  |  | (22,251)
Other |  |  | (878) |  |  | (1,180)
Total deferred tax liabilities |  |  | (227,711) |  |  | (237,348)
Total net deferred tax liability |  | $ | (27,698) |  | $ | (23,407)
Income Taxes Associated with Unrecognized Tax Benefits |
Changes in Liability for Unrecognized Tax Benefits |  |  |  |  |  |  |  |  |
(thousands) |  |  | 2023 |  |  | 2022 |  |  | 2021
Balance at beginning of period |  | $ | 5,006 |  | $ | 5,035 |  | $ | 5,212
Additions based on tax positions related to the current year |  |  | 97 |  |  | 1,271 |  |  | 915
Additions for tax positions of prior years |  |  | — |  |  | 49 |  |  | —
Reductions for tax positions of prior years |  |  | (224) |  |  | — |  |  | —
Lapse in statutes of limitation |  |  | (1,170) |  |  | (1,349) |  |  | (1,092)
Balance at end of period |  | $ | 3,709 |  | $ | 5,006 |  | $ | 5,035

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI https://asc.fasb.org/extlink&oid=126976462&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI https://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration