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Income Taxes | 12 Months Ended
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Sep. 24, 2017
Income Tax Disclosure [Abstract] |
Income Tax Disclosure [Text Block] | INCOME TAXES Income tax expense consists of the following:
(Thousands of Dollars) | 2017 |  |  | 2016 |  |  | 2015 |
Current: |  |  |  |  |
Federal | 394 |  |  | 1,241 |  |  | 720 |
State | 819 |  |  | 379 |  |  | (92 | )
Deferred | 10,398 |  |  | 20,556 |  |  | 12,966 |
| 11,611 |  |  | 22,176 |  |  | 13,594 |
Income tax expense (benefit) related to continuing operations differs from the amounts computed by applying the U.S. federal income tax rate to income (loss) before income taxes. The reasons for these differences are as follows:
(Percent of Income (Loss) Before Income Taxes) | 2017 |  |  | 2016 |  |  | 2015 |
Computed “expected” income tax expense (benefit) | 35.0 |  |  | 35.0 |  |  | 35.0 |
State income tax expense (benefit), net of federal tax impact | 2.3 |  |  | 3.8 |  |  | (7.1 | )
Net income of associated companies taxed at dividend rates | (3.7 | ) |  | (2.6 | ) |  | (5.2 | )
Resolution of tax matters | 2.2 |  |  | 3.2 |  |  | 0.5 |
Non-deductible expenses | 1.5 |  |  | 1.0 |  |  | 2.8 |
Valuation allowance | 2.6 |  |  | (7.7 | ) |  | 15.9 |
Warrant valuation | (10.2 | ) |  | 5.0 |  |  | (6.1 | )
Other | (0.8 | ) |  | 0.4 |  |  | 0.1 |
| 28.9 |  |  | 38.1 |  |  | 35.9 |
Net deferred income tax liabilities consist of the following components:
(Thousands of Dollars) | September 24 2017 |  |  | September 25 2016 |
Deferred income tax liabilities: |  |  |
Property and equipment | (28,422 | ) |  | (33,549 | )
Identified intangible assets | (35,790 | ) |  | (43,745 | )
Long-term debt | (16,993 | ) |  | (16,158 | )
| (81,205 | ) |  | (93,452 | )
Deferred income tax assets: |  |  |  |
Investments | 2,520 |  |  | 12,138 |
Accrued compensation | 4,622 |  |  | 6,391 |
Allowance for doubtful accounts and losses on loans | 1,487 |  |  | 1,273 |
Pension and postretirement benefits | 4,593 |  |  | 6,505 |
Net operating loss carryforwards | 37,997 |  |  | 52,604 |
Accrued expenses | 601 |  |  | 577 |
Other | 5,023 |  |  | 3,634 |
| 56,843 |  |  | 83,122 |
Valuation allowance | (29,035 | ) |  | (27,978 | )
Net deferred income tax liabilities | (53,397 | ) |  | (38,308 | )
All deferred taxes are categorized as non-current. A reconciliation of 2017 and 2016 changes in gross unrecognized tax benefits is as follows:
(Thousands of Dollars) | 2017 |  |  | 2016 |
Balance, beginning of year | 12,531 |  |  | 11,799 |
Increases (decreases) in tax positions for prior years | 36 |  |  | 46 |
Increases in tax positions for the current year | 2,150 |  |  | 1,600 |
Lapse in statute of limitations | (802 | ) |  | (914 | )
Balance, end of year | 13,915 |  |  | 12,531 |
Approximately $9,010,000 and $8,025,000 of the gross unrecognized tax benefit balances for 2017 and 2016 respectively, relate to state net operating losses which are netted against deferred taxes on our balance sheet. The total amount of unrecognized tax benefits that, if recognized, would impact the effective tax rate was $9,045,000 at September 24, 2017. We recognize interest and penalties related to unrecognized tax benefits as a component of income tax expense. The amount of accrued interest related to unrecognized tax benefits was, net of tax, $367,000 at September 24, 2017 and $317,000 at September 25, 2016. There were no amounts provided for penalties at September 24, 2017 or September 25, 2016. No significant income tax audits are currently in progress and the Company has not received any notices of intent to audit. Certain of the Company's state income tax returns for the year ended September 30, 2012 are open for examination. The Federal and remaining state returns are open beginning with the September 29, 2014 year. At September 24, 2017, we have state tax benefits of approximately $57,856,000 in net operating loss ("NOL") carryforwards that expire between 2018 and 2037. These NOL carryforwards result in a deferred income tax asset of $37,607,000 at September 24, 2017, a portion of which is offset by a valuation allowance. We reported a Federal NOL of approximately $58,601,000 as of year-end September 25, 2016. We expect to report taxable income in 2017 which will further reduce the Federal NOL to $17,850,000 resulting in a deferred income tax asset balance of $6,247,000 as of September 24, 2017. A valuation allowance is not required for the Federal NOL in the current year based on our projection of future earnings during the carryforward period.

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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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