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Income Taxes (Tables) | 12 Months Ended
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Sep. 30, 2020
Income Tax Disclosure [Abstract] |
Components of Income Tax Expense | Income tax expense is comprised of the following for the indicated periods (in thousands):
|  | Years Ended September 30, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 17,083 |  |  | $ | 7,921 |  |  | $ | (6,067 | )
State |  |  | 7,086 |  |  |  | 4,722 |  |  |  | (1,016 | )
Deferred |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (2,643 | ) |  |  | (3,168 | ) |  |  | 11,052 |
State |  |  | (901 | ) |  |  | (1,958 | ) |  |  | 3,633 |
|  | $ | 20,625 |  |  | $ | 7,517 |  |  | $ | 7,602 |
Provision for Income Taxes Differs from Income Taxes | The provision for income taxes differs from income taxes computed at the Federal statutory rate as a result of the following (in thousands):
|  | Years Ended September 30, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Income from continuing operations before taxes |  | $ | 76,543 |  |  | $ | 25,154 |  |  | $ | 63,107 |
Provision for income taxes: |  |  |  |  |  |  |  |  |  |  |  |
Tax at Federal statutory rate |  | $ | 16,074 |  |  | $ | 5,282 |  |  | $ | 17,266 |
Effect of the tax reform on deferred taxes |  |  | — |  |  |  | — |  |  |  | (11,101 | )
Impact of Company loss not subject to federal income taxes |  |  | — |  |  |  | — |  |  |  | 53 |
State taxes net of federal benefit |  |  | 5,224 |  |  |  | 1,626 |  |  |  | 1,864 |
Permanent differences |  |  | 89 |  |  |  | 345 |  |  |  | 99 |
Change in valuation allowance net of effect of the tax reform |  |  | (113 | ) |  |  | 23 |  |  |  | 107 |
Other |  |  | (649 | ) |  |  | 241 |  |  |  | (686 | )
|  | $ | 20,625 |  |  | $ | 7,517 |  |  | $ | 7,602 |
Components of Net Deferred Taxes | The components of the net deferred taxes for the years ended September 30, 2020 and September 30, 2019 using current tax rates are as follows (in thousands):
|  | September 30, |
|  | 2020 |  |  | 2019 |
Deferred tax assets: |  |  |  |  |  |  |  |
Operating lease liabilities |  | $ | 29,997 |  |  | $ | — |
Net operating loss carryforwards |  |  | 5,620 |  |  |  | 6,292 |
Vacation accrual |  |  | 2,931 |  |  |  | 2,774 |
Pension accrual |  |  | 3,807 |  |  |  | 4,504 |
Allowance for bad debts |  |  | 1,653 |  |  |  | 2,235 |
Insurance accrual |  |  | 2,283 |  |  |  | 2,419 |
Inventory capitalization |  |  | 641 |  |  |  | 247 |
Fair value of derivative instruments |  |  | 3,556 |  |  |  | 2,794 |
Other, net |  |  | 1,208 |  |  |  | — |
Total deferred tax assets |  |  | 51,696 |  |  |  | 21,265 |
Valuation allowance |  |  | (3,890 | ) |  |  | (4,003 | )
Net deferred tax assets |  | $ | 47,806 |  |  | $ | 17,262 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Operating lease right-of-use assets |  | $ | 28,492 |  |  | $ | — |
Property and equipment |  |  | 14,305 |  |  |  | 13,485 |
Intangibles |  |  | 19,091 |  |  |  | 21,883 |
Other, net |  |  | 3,145 |  |  |  | 2,010 |
Total deferred tax liabilities |  | $ | 65,033 |  |  | $ | 37,378 |
Net deferred taxes |  | $ | (17,227 | ) |  | $ | (20,116 | )

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- 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 http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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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 http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
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