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Income Taxes | 12 Months Ended
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Dec. 25, 2024
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes The provisions for (benefits from) income taxes were as follows:
| Fiscal Year Ended
| December 25, 2024 |  | December 27, 2023 |  | December 28, 2022
| (In thousands)
Current: |  |  |  |  |
Federal | $ | 4,925 |  |  | $ | 4,649 |  |  | $ | 6,128 |
State and local | 1,078 |  |  | 2,409 |  |  | 2,160 |
Foreign | 1,478 |  |  | 1,433 |  |  | 1,152 |
Deferred: |  |  |  |  |
Federal | (1,079) |  |  | (1,876) |  |  | 11,043 |
State and local | 812 |  |  | 173 |  |  | 3,689 |
Increase (decrease) of valuation allowance | 464 |  |  | 205 |  |  | 546 |
Total provision for income taxes | $ | 7,678 |  |  | $ | 6,993 |  |  | $ | 24,718 |
The reconciliation of income taxes at the U.S. federal statutory tax rate to our effective tax rate was as follows:
| December 25, 2024 |  | December 27, 2023 |  | December 28, 2022
Statutory provision rate | 21 | % |  | 21 | % |  | 21 | %
State and local taxes, net of federal income tax benefit | 7 |  |  | 6 |  |  | 5 |
Foreign taxes | 5 |  |  | 5 |  |  | 1 |
Change in state valuation allowance | 2 |  |  | 1 |  |  | — |
General business credits generated | (6) |  |  | (5) |  |  | (1) |
Foreign tax credits generated | (5) |  |  | (5) |  |  | (1) |
Section 162(m) and share-based compensation | 6 |  |  | 7 |  |  | — |
Insurance premiums | (2) |  |  | (2) |  |  | — |
Other | (2) |  |  | (2) |  |  | — |
Effective tax rate | 26 | % |  | 26 | % |  | 25 | %
For 2024, the difference in the overall effective rate from the U.S. statutory rate was primarily due to state and foreign taxes, partially offset by the generation of employment and foreign tax credits. The 2024 rate was also impacted by $1.8 million of disallowed compensation deductions. For 2023, the difference in the overall effective rate from the U.S. statutory rate was primarily due to state and foreign taxes, partially offset by the generation of employment and foreign tax credits. The 2023 rate was also impacted by $1.9 million of disallowed compensation deductions. For 2022, the difference in the overall effective rate from the U.S. statutory rate was primarily due to state and foreign taxes, partially offset by the generation of employment and foreign tax credits. The following table represents the approximate tax effect of each significant type of temporary difference that resulted in deferred income tax assets or liabilities.
| December 25, 2024 |  | December 27, 2023
| (In thousands)
Deferred tax assets: |  |  |
Self-insurance accruals | $ | 2,398 |  |  | $ | 2,536 |
Finance lease liabilities | 1,102 |  |  | 1,119 |
Operating lease liabilities | 34,468 |  |  | 30,445 |
Accrued exit costs | — |  |  | 5 |
Pension, other retirement and compensation plans | 5,922 |  |  | 7,127 |
Deferred income | 3,868 |  |  | 4,617 |
Other accruals | 1,824 |  |  | 478 |
General business and foreign tax credit carryforwards - state and federal | 3,612 |  |  | 3,472 |
Net operating loss carryforwards - state | 534 |  |  | 848 |
Total deferred tax assets before valuation allowance | 53,728 |  |  | 50,647 |
Less: valuation allowance | (3,407) |  |  | (2,943) |
Total deferred tax assets | 50,321 |  |  | 47,704 |
Deferred tax liabilities: |  |  |
Intangible assets | (16,140) |  |  | (15,044) |
Contract assets | (1,212) |  |  | (1,460) |
Deferred finance costs | — |  |  | (181) |
Operating lease right-of-use assets | (31,544) |  |  | (27,307) |
Fixed assets | (6,135) |  |  | (8,074) |
Interest rate swaps | (5,254) |  |  | (2,220) |
Total deferred tax liabilities | (60,285) |  |  | (54,286) |
Net deferred tax liabilities | $ | (9,964) |  |  | $ | (6,582) |
The Company’s state net operating loss tax asset of $0.5 million includes $0.3 million related to Louisiana, Pennsylvania, Tennessee and South Carolina. Of the $3.4 million valuation allowance, $0.2 million relates to Pennsylvania and South Carolina net operating loss carryforwards, $1.1 million relates to California enterprise zone credits and $2.1 million relates to foreign tax credit carryforwards, all of which may never be utilized, prior to their expiration. It is more likely than not that we will be able to utilize all of our existing temporary differences and most of our remaining state tax net operating losses and state credit tax carryforwards, net of existing valuation allowance, prior to their expiration. The following table provides a reconciliation of the beginning and ending amount of unrecognized tax benefits:
| December 25, 2024 |  | December 27, 2023
| (In thousands)
Balance, beginning of year | $ | 445 |  |  | $ | 869 |
Increase (decrease) related to prior year tax positions | 13 |  |  | (424) |
Balance, end of year | $ | 458 |  |  | $ | 445 |
There was less than $0.1 million of interest expense for the year ended December 25, 2024 and no interest expense for the year ended December 27, 2023 associated with unrecognized tax benefits. We file income tax returns in the U.S. federal jurisdictions and various state jurisdictions. With few exceptions, we are no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for years before 2021. We remain subject to examination for U.S. federal taxes from 2021 onward, and in the following major state jurisdictions: California (2019 onward), Florida (2021 onward) and Texas (2020 onward).

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