Income Taxes (Tables)

12 Months Ended

Mar. 27, 2021

Income Taxes [Abstract]

Components of the provision for income taxes

Provision for Income Taxes
(thousands)		2021		2020		2019
Current:
Federal	$	(1,809)	$	2,783	$	5,682
State		827		1,994		2,409
Total current		(982)		4,777		8,091
Deferred:
Federal		10,169		11,397		11,563
State		685		76		954
Total deferred		10,854		11,473		12,517
Total provision	$	9,872	$	16,250	$	20,608

Reconciliation between Federal statutory tax rate and effective tax rate reflected in accompanying financial statements

Income Tax Rate Reconciliation	2021		2020		2019
Expected U.S. federal income taxes at statutory rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal tax benefit	2.9		1.9		2.8
Tax settlements and adjustments (a)	(1.1)		—		(1.9)
Other	(0.5)		(1.0)		(1.4)
Effective tax rate	22.3	%	21.9	%	20.5	%

(a)For 2021, adjustments reflect benefit due to differences in statutory tax rates from loss years to years in which net operating losses may be carried back. For 2019, settlements reflect benefit from Internal Revenue Service’s examination of our 2016 and 2017 tax returns.

Deferred tax (liabilities) assets

Net Deferred Tax Asset/(Liability)
(thousands)		March 27, 2021		March 28, 2020
Gross deferred tax assets:
Lease liabilities	$	186,168	$	169,366
Insurance reserves		11,441		10,192
Other		15,282		14,765
Total gross deferred tax assets		212,891		194,323
Gross deferred tax liabilities:
Leased assets		(148,496)		(131,484)
Goodwill		(56,623)		(47,204)
Property and equipment		(21,032)		(18,232)
Other		(910)		(1,288)
Total deferred tax liabilities		(227,061)		(198,208)
Total net deferred tax liability	$	(14,170)	$	(3,885)

Income taxes associated with unrecognized tax benefits

Changes in Liability for Unrecognized Tax Benefits
(thousands)		2021		2020		2019
Balance at beginning of period	$	5,212	$	6,424	$	6,209
Additions based on tax positions related to the current year		915		644		1,178
Additions for tax positions of prior years		—		—		166
Reductions for tax positions of prior years		—		(30)		(6)
Settlements		—		—		—
Lapse in statutes of limitation		(1,092)		(1,826)		(1,123)
Balance at end of period	$	5,035	$	5,212	$	6,424