Income Taxes (Tables)

12 Months Ended

Sep. 02, 2023

Income Tax Disclosure [Abstract]

Components of Income Before Provision for Income Taxes

The components of income before provision for income taxes were as follows:

	For the Fiscal Years Ended
	September 2, 2023		September 3, 2022		August 28, 2021
Domestic	$	453,563	$	449,389	$	282,478
Foreign	2,593		1,743		5,901
Total	$	456,156	$	451,132	$	288,379

Provision for Income Taxes

The provision for income taxes is comprised of the following:

	For the Fiscal Years Ended
	September 2, 2023		September 3, 2022		August 28, 2021
Current:
Federal	$	81,187	$	77,761	$	60,988
State and local	21,121		19,524		15,237
Foreign	1,635		1,309		1,327
	103,943		98,594		77,552
Deferred:
Federal	8,164		11,591		(5,513)
State and local	1,683		1,281		(842)
Foreign	(741)		(816)		(755)
	9,106		12,056		(7,110)
Total	$	113,049	$	110,650	$	70,442

Components of Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and liabilities are as follows:

	September 2, 2023		September 3, 2022
Deferred tax liabilities:
Depreciation	$	(40,137)	$	(41,990)
Right-of-use assets	(14,290)		(14,898)
Goodwill	(118,015)		(111,471)
Intangible amortization	(2,388)		(2,568)
	(174,830)		(170,927)
Deferred tax assets:
Accounts receivable	5,047		4,605
Lease liability	14,595		14,766
Inventory	10,356		13,476
Self-insurance liability	2,988		1,605
Deferred compensation	256		586
Stock-based compensation	5,431		5,881
Other accrued expenses/reserves	11,958		14,915
	50,631		55,834
Net Deferred Tax Liabilities	$	(124,199)	$	(115,093)

Reconciliation of Statutory Federal Income Tax Rate to Effective Tax Rate

Reconciliation of the U.S. federal income tax rate to the Company’s effective income tax rate is as follows:

	For the Fiscal Years Ended
	September 2, 2023		September 3, 2022		August 28, 2021
U.S. federal income tax rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal benefit	4.3		3.9		4.1
Other, net	(0.5)		(0.4)		(0.7)
Effective income tax rate	24.8	%	24.5	%	24.4	%

Changes in Gross Unrecognized Tax Benefits

The aggregate changes in the balance of gross unrecognized tax benefits during fiscal years 2023 and 2022 were as follows:

	September 2, 2023		September 3, 2022
Beginning Balance	$	11,223	$	6,119
Additions for tax positions relating to current year	403		1,130
Additions for tax positions relating to prior years	—		6,810
Reductions for tax positions relating to prior years	(816)		(626)
Settlements	(178)		—
Lapse of statute of limitations	(2,864)		(2,210)
Ending Balance	$	7,768	$	11,223