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Income Taxes (Tables)

12 Months Ended

Sep. 28, 2025

Income Tax Disclosure [Abstract]

Components of Income Taxes

Income taxes consist of the following in each fiscal year (in thousands):

						2025						2024						2023
Current:
Federal						$	25,760					$	32,251					$	53,229
State						9,839						10,933						17,274
						35,599						43,184						70,503
Deferred:
Federal						(42,744)						(2,696)						(10,642)
State						(14,961)						(8,116)						(1,347)
						(57,705)						(10,812)						(11,989)
Income tax (benefit) expense from continuing operations						$	(22,106)					$	32,372					$	58,514

Reconciliation of the Federal Statutory Income Tax Rate to Effective Tax Rate

The expense (benefit) for income taxes differs from the amount computed by applying the U.S. federal statutory rate to pre-tax income (loss). The sources and tax effects of the differences are as follows (in thousands):

						2025									2024									2023
Pre-tax (loss) income						$	(102,825)								$	(4,323)								$	189,340
Income tax at federal statutory rate						(21,593)			21.0		%				(908)			21.0		%				39,821			21.0		%
State income taxes, net of federal benefit						(5,450)			5.3		%				(233)			5.4		%				10,587			5.6		%
Stock-based compensation expense						1,568			(1.5)		%				51			(1.2)		%				71			—		%
Tax credits, net of valuation allowance						(334)			0.3		%				(340)			7.9		%				(818)			(0.4)		%
Nondeductible goodwill related to impairment						6,602			(6.4)		%				35,075			(811.5)		%				—			—		%
Nondeductible goodwill related to the sale of company-operated restaurants						120			(0.1)		%				1,787			(41.3)		%				9,280			4.9		%
State audit accrual						(747)			0.7		%				—			—		%				—			—		%
Benefit related to COLIs						(2,271)			2.2		%				(4,703)			108.8		%				(1,947)			(1.0)		%
Officers’ compensation limitation						(333)			0.3		%				1,306			(30.2)		%				1,188			0.6		%
Other, net						332			(0.3)		%				337			(7.8)		%				332			0.2		%
Effective tax rate						$	(22,106)		21.5		%				32,372			(748.9)		%				58,514			30.9		%

Deferred Tax Assets and Deferred Tax Liabilities

The tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities at each fiscal year-end are presented below (in thousands):

			2025						2024
Deferred tax assets:
Operating and finance lease liabilities			$	372,538					$	381,522
Deferred income			22,974						15,465
Accrued defined benefit pension and postretirement benefits			19,096						22,074
Accrued insurance			7,145						7,135
Share-based compensation			5,869						6,814
Deferred interest deduction			5,606						1,664
Accrued legal settlements			5,377						4,764
Property and equipment, net of impairment			4,107						5,847
Accrued incentive compensation			1,921						2,692
Other reserves and allowances			1,778						1,241
Accrued compensation expense			1,325						1,254
Capitalized research costs			1,152						1,443
Tax loss and tax credit carryforwards			398						387
Other, net			2,509						2,537
Total gross deferred tax assets			451,795						454,839
Valuation allowance			—						—
Total net deferred tax assets			451,795						454,839
Deferred tax liabilities:
Operating and finance lease ROU assets			(367,274)						(378,531)
Intangible assets			(41,128)						(88,378)
Other			(2,125)						(1,542)
Total gross deferred tax liabilities			(410,527)						(468,451)
Net deferred tax assets (liabilities)			$	41,268					$	(13,612)

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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

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-Topic 740
-SubTopic 10
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-Section 50
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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.

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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.

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