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Income Taxes | 4 Months Ended
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Jan. 21, 2018
Income Tax Disclosure [Abstract] |
Income Taxes |
| INCOME TAXES
Our tax rates for the quarter ended January 21, 2018 was impacted by the Tax Cuts and Jobs Act (the “Tax Act”), which was enacted into law on December 22, 2017. As a fiscal year taxpayer, certain provisions of the Tax Act impacted us in fiscal year 2018, including a reduction in the U.S. federal statutory corporate income tax rate (the “Tax Rate”), while other provisions will be effective starting at the beginning of fiscal year 2019. The Tax Rate reduction was effective as of January 1, 2018, and will be phased in, resulting in a statutory federal tax rate of 24.5% for our fiscal year ending September 30, 2018, and 21.0% for subsequent fiscal years. As of January 21, 2018, we provisionally accounted for the results of the Tax Act. The provision for income taxes is based on a reasonable estimate of the effects on our existing deferred tax balances. A tax expense of $30.6 million, including a $2.3 million benefit related to Qdoba, was recognized and is included as a component of income taxes from continuing operations. This tax expense consists primarily of a $30.7 million re-measurement of our deferred tax assets and liabilities due to the enactment of the Tax Act. The impact of the Tax Act is based upon estimates and interpretations which may be refined as further authoritative guidance is issued and is expected to be completed by the first quarter of fiscal year 2019. The income tax provisions reflect tax rates of 78.5% in 2018 and 38.7% in 2017. The major components of the change in these tax rates were the one-time, non-cash impact of the enactment of the Tax Act, including the revaluation of all deferred tax assets and liabilities at the reduced federal statutory tax rate, partially offset by the decrease in the federal statutory tax rate and the excess tax benefit on 2018 stock compensation. The final annual tax rate cannot be determined until the end of the fiscal year; therefore, the actual annual 2018 rate could differ from our current estimates. The following is a summary of the components of each tax rate (in thousands):
| Sixteen Weeks Ended
| January 21, 2018 |  | January 22, 2017
Income tax expense at statutory rate | $ | 17,192 |  |  | 28.6 | % |  | $ | 21,740 |  |  | 38.6 | %
One-time, non-cash impact of the Tax Act | 30,627 |  |  | 51.0 | % |  | — |  |  | — | %
Stock compensation excess tax benefit | (802 | ) |  | (1.3 | )% |  | — |  |  | — | %
Other | 121 |  |  | 0.2 | % |  | 91 |  |  | 0.2 | %
(1) | $ | 47,138 |  |  | 78.5 | % |  | $ | 21,831 |  |  | 38.7 | %
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(1) | Percentages may not add due to rounding.

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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