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Income Tax (Tables)

12 Months Ended

Dec. 30, 2023

Income Tax Disclosure [Abstract]

Summary of Income Tax Provision for Continuing Operations

The income tax provision for continuing operations is made up of the following components:

(In thousands)	2023					2022					2021
Current income tax expense:
Federal	$		6,698			$		8,585			$		5,436
State			2,961					2,397					1,867
Total current income tax expense			9,659					10,982					7,303
Deferred income tax expense:
Federal			6,546					46					14,877
State			1,683					1,369					2,726
Total deferred income tax expense			8,229					1,415					17,603
Total income tax expense	$		17,888			$		12,397			$		24,906

Reconciliation of Statutory Federal Rate to Effective Rate

A reconciliation of the statutory federal rate to the effective rate is as follows:

	2023					2022					2021
Federal statutory income tax rate		21.0		%			21.0		%			21.0		%
Stock compensation		(0.9	)				(2.8	)				0.0
Non-deductible expenses		3.4					5.5					1.7
Change in tax contingencies		(1.3	)				(0.1	)				0.0
Charitable product donations		(0.2	)				(0.3	)				(0.1	)
Other, net		(0.3	)				0.1					(0.3	)
State taxes, net of federal income tax benefit		5.3					6.7					3.8
Tax credits		(1.5	)				(3.7	)				(0.9	)
Effective income tax rate		25.5		%			26.4		%			25.2		%

Summary of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities resulting from temporary differences as of December 30, 2023 and December 31, 2022 are as follows:

	December 30,					December 31,
(In thousands)	2023					2022
Deferred tax assets:
Employee benefits	$		21,074			$		27,387
Accrued workers' compensation			2,082					2,126
Allowance for credit losses			1,500					1,823
Restructuring			601					655
Deferred revenue			987					1,266
Stock warrant			31					626
Lease liabilities			82,970					82,284
Accrued insurance			1,045					985
State net operating loss carryforwards (a)			5,507					5,608
All other			8,538					4,433
Total deferred tax assets			124,335					127,193
Valuation allowances			(399	)				(357	)
Net deferred tax assets			123,936					126,836
Deferred tax liabilities:
Property and equipment			49,038					48,251
Lease assets			74,472					73,986
Inventory			31,618					33,290
Goodwill			36,936					33,606
Intangible assets			2,200					1,195
All other			3,576					2,801
Total deferred tax liabilities			197,840					193,129
Net deferred tax liability	$		73,904			$		66,293

(a)As of December 30, 2023, the Company’s state net operating loss carryforwards in various taxing jurisdictions expire in tax years 2024 through 2043 if not utilized.

Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

(In thousands)	2023					2022
Balance at beginning of year	$		1,165			$		1,220
Lapsed statutes of limitations			(185	)				(55	)
Effectively settled			(836	)				—
Balance at end of year	$		144			$		1,165

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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 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.

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