XML 21 R11.htm IDEA: XBRL DOCUMENT v3.7.0.1
Income Taxes
6 Months Ended
Mar. 26, 2017
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]
INCOME TAXES

We recorded income tax expense of $1,144,000 and $7,410,000 related to income before taxes of $7,521,000 and $26,228,000 for the 13 and 26 weeks ended March 26, 2017, respectively. For the 13 and 26 weeks ended March 27, 2016, we recorded $12,389,000 and $19,535,000 in income tax expense related to income before taxes of $31,872,000 and $50,526,000, respectively. The effective income tax rates for the 13 weeks ended March 26, 2017 and March 27, 2016 were 15.2% and 38.9%, respectively. The effective income tax rates for the 26 weeks ended March 26, 2017 and March 27, 2016 were 28.3% and 38.7%, respectively. The primary differences between these rates and the U.S. federal statutory rate of 35% are due to the effect of state income taxes, non-deductible expenses, adjustments to reserves for uncertain tax positions, including any related interest, and mark-to-market adjustments to value the Warrants.

We file a consolidated federal tax return, as well as combined and separate tax returns in approximately 27 state and local jurisdictions. We have various income tax examinations ongoing which are at different stages of completion, but generally our income tax returns have been audited or closed to audit through 2009. See Note 10 for a discussion of our tax audits.

At September 25, 2016, we had approximately $57,392,000 of state net operating loss tax benefits and a federal net operating loss carryforward of approximately $58,618,000. Due to our federal and state net operating loss carryforwards and based on historical levels of performance, we do not expect to make any significant income tax payments in the current fiscal year.