Note H - Income Taxes (Tables)

12 Months Ended

Sep. 24, 2022

Notes Tables

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

	Fiscal year ended
	September 24,			September 25,			September 26,
	2022			2021			2020
	(in thousands)
Current
U.S. Federal		(374	)	$	13,964		$	1,992
Foreign		2,854			860			193
State		3,210			6,431			(1,517	)
Total current expense		5,690			21,255			668
Deferred
U.S. Federal		10,834		$	(145	)	$	3,139
Foreign		(394	)		(353	)		(536	)
State		(1,611	)		(2,338	)		(110	)
Total deferred (benefit) expense		8,829			(2,836	)		2,493
Total expense	$	14,519		$	18,419		$	3,161

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

	Fiscal year ended
	September 24,		September 25,			September 26,
	2022		2021			2020
	(in thousands)
Income taxes at federal statutory rates	$	12,968	$	15,545		$	4,508
Increase (decrease) in taxes resulting from:
State income taxes, net of federal income tax benefit		1,261		3,233			(1,285	)
Share-based compensation		162		(124	)		(183	)
Other, net		128		(235	)		121
Income tax expense	$	14,519	$	18,419		$	3,161

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

	Fiscal year ended
	September 24,			September 25,
	2022			2021
	(in thousands)
Deferred tax assets:
Vacation accrual	$	1,321		$	1,359
Capital loss carry forwards		17			14
Unrealized gains/losses		504			598
Insurance accrual		3,614			3,918
Operating lease liabilities		14,521			16,235
Deferred income		10			30
Allowances		2,598			2,155
Inventory capitalization		1,620			1,108
Share-based compensation		1,680			1,754
Net operating loss		538			617
Payroll tax accrual		1,142			2,307
Foreign tax credit		404			404
Total deferred tax assets		27,969			30,499
Valuation allowance		(521	)		(612	)
Total deferred tax assets, net		27,448			29,887
Deferred tax liabilities:
Amortization of goodwill and other intangible assets		32,680			31,540
Depreciation of property, plant and equipement		51,972			44,924
Right-of-use assets		13,058			14,773
Accounting method change 481(a)		145			228
Total deferred tax liabilities		97,855			91,465
Total deferred tax liabilities, net	$	70,407		$	61,578