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Income Taxes | 4 Months Ended
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Jan. 19, 2020
Income Tax Disclosure [Abstract] |
Income Taxes | INCOME TAXES The income tax provisions reflect tax rates of 28.4% in 2020 and 23.1% in 2019. The major components of the year- over-year change in tax rates were a decrease in operating earnings before income tax, an adjustment related to state taxes recorded in the first quarter of 2019, an increase in the tax deficiency on stock compensation, partially offset by an increase in gains from the market performance of insurance products used to fund certain non-qualified retirement plans which are excluded from taxable income. The final annual tax rate cannot be determined until the end of the fiscal year; therefore, the actual 2020 rate could differ from our current estimates. The following is a summary of the components of each tax rate (dollars in thousands):
|  |  |  |  | Sixteen Weeks Ended |  |  |  |  |  |
|  |  |  |  | January 19, 2020 |  |  |  | January 20, 2019 |  |
Income tax expense at statutory rate |  |  |  |  | $ | 2,868 |  |  | 26.0 | % |  | $ | 10,434 |  |  | 25.8 | %
Stock compensation tax deficiency (excess tax benefit) |  |  |  |  | 196 |  |  | 1.8 | % |  | (50) |  |  | (0.1) | %
Company-owned life insurance policies |  |  |  |  | (99) |  |  | (0.9) | % |  | 231 |  |  | 0.6 | %
Adjustment to state tax provision |  |  |  |  | — |  |  | — | % |  | (1,027) |  |  | (2.6) | %
Other |  |  |  |  | 168 |  |  | 1.5 | % |  | (215) |  |  | (0.5) | %
(1) |  |  |  |  | $ | 3,133 |  |  | 28.4 | % |  | $ | 9,373 |  |  | 23.1 | %
____________________________ (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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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