XML 53 R39.htm IDEA: XBRL DOCUMENT v3.22.4

Income Taxes (Tables)

12 Months Ended

Sep. 25, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense (benefit) consists of the following:

(Thousands of Dollars)			2022						2021						2020
Current:
Federal			4,932						(2,431)						8,779
State			142						3,642						(10)
Deferred			(4,376)						6,044						(5,796)
			698						7,255						2,973

Schedule of Effective Income Tax Rate Reconciliation

Income tax (benefit) expense related to 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 (Loss) Income Before Income Taxes)			2022						2021						2020
Computed “expected” income tax expense			21.0						21.0						21.0
State income tax benefit, net of federal tax benefit			(8.9)						5.6						21.7
Net income of associated companies			(77.2)						(1.8)						(18.3)
Resolution of tax matters			(32.2)						3.2						(30.5)
Remeasurement due to rate changes			(11.2)						0.1						(31.0)
Non-deductible expenses			124.0						0.9						19.4
Provision to return adjustment			70.2						—						—
Valuation allowance			11.9						(6.0)						125.2
Wage credit, net addback			(7.5)						—						—
Warrant valuation			(1.9)						(0.4)						(7.3)
Other			—						—						4.4
			88.2						22.6						104.6

Schedule of Deferred Tax Assets and Liabilities

Net deferred income tax liabilities consist of the following components:

(Thousands of Dollars)			September 25 2022						September 26 2021
Deferred income tax liabilities:
Property and equipment			(11,712)						(13,284)
Identified intangible assets			(21,649)						(27,543)
ASC 842 - Leases DTL			(11,308)						(15,813)
Pension and postretirement benefits			—						(6,346)
Investments			(26,489)						(14,823)
			(71,158)						(77,809)
Deferred income tax assets:
Allowance for credit losses			802						237
Pension and postretirement benefits			3,445						—
Long-term debt			161						716
Interest deduction limitation			4,809						—
Operating loss carryforwards			26,224						26,999
ASC 842 - Leases DTA			13,112						15,840
Accrued compensation			1,914						6,630
Accrued expenses			1,663						443
Other			2,964						812
			55,094						51,677
Valuation allowance			(26,655)						(27,631)
Net deferred income tax liabilities			(42,719)						(53,763)

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of 2022 and 2021 changes in gross unrecognized tax benefits is as follows:

(Thousands of Dollars)			2022						2021
Balance, beginning of year			18,279						27,008
Changes in tax positions for prior years			(307)						1,008
Increases (decrease) in tax positions for the current year			1,887						(8,940)
Lapse in statute of limitations			(1,617)						(797)
Balance, end of year			18,242						18,279

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 55
-Paragraph 217
-URI https://asc.fasb.org/extlink&oid=126976462&loc=d3e36027-109320

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI https://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration