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Note 11 - Income Taxes (Tables)

12 Months Ended

Sep. 29, 2019

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

(Thousands of Dollars)		2019				2018				2017
Current:
Federal			8,763				275				394
State			1,171				875				819
Deferred			(2,003	)			(17,378	)			10,398
			7,931				(16,228	)			11,611

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

(Percent of Income (Loss) Before Income Taxes)		2019				2018				2017
Computed “expected” income tax expense (benefit)			21.0				24.7				35.0
State income tax expense (benefit), net of federal tax impact			1.3				2.6				2.3
Net income of associated companies taxed at dividend rates			(3.9	)			(5.1	)			(3.7	)
Resolution of tax matters			1.7				(8.4	)			2.2
Non-deductible expenses			3.4				2.9				1.5
Valuation allowance			10.8				9.9				2.6
Warrant valuation			(0.6	)			0.2				(10.2	)
Revaluation of deferred income taxes due to law charges			—				(79.1	)			—
Other			(0.4	)			(0.4	)			(0.8	)
			33.3				(52.7	)			28.9

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		September 29				September 30
(Thousands of Dollars)		2019				2018
Deferred income tax liabilities:
Property and equipment			(14,424	)			(16,506	)
Identified intangible assets			(15,358	)			(18,486	)
Long-term debt			(6,647	)			(11,074	)
Accrued compensation			(189	)			2,402
Investments			(3,164	)			(6,472	)
			(39,782	)			(50,136	)
Deferred income tax assets:
Allowance for doubtful accounts and losses on loans			1,279				910
Pension and postretirement benefits			4,048				2,305
Operating loss carryforwards			41,610				41,663
Accrued expenses			426				424
Other			2,526				3,075
			49,889				48,377
Valuation allowance			(39,913	)			(37,349	)
Net deferred income tax liabilities			(29,806	)			(39,108	)

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

(Thousands of Dollars)		2019				2018
Balance, beginning of year			16,104				13,915
Increases (decreases) in tax positions for prior years			33				132
Increases in tax positions for the current year			2,472				2,567
Lapse in statute of limitations			(357	)			(510	)
Balance, end of year			18,252				16,104

X

- Definition

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.

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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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