Income Taxes (Tables)

12 Months Ended

Mar. 30, 2024

Income Taxes [Abstract]

Components of the Provision for Income Taxes

Provision for Income Taxes
(thousands)		2024		2023		2022
Current:
Federal	$	4,910	$	11,174	$	256
State		368		2,703		1,442
Total current		5,278		13,877		1,698
Deferred:
Federal		5,649		1,855		12,602
State		3,382		2,387		1,417
Total deferred		9,031		4,242		14,019
Total provision	$	14,309	$	18,119	$	15,717

Reconciliation Between Federal Statutory Tax Rate and Effective Tax Rate Reflected in Accompanying Financial Statements

Income Tax Rate Reconciliation	2024		2023		2022
Expected U.S. federal income taxes at statutory rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal tax benefit	5.7		4.9		3.0
Tax adjustments (a)	0.0		5.3		(4.0)
Other	0.9		0.5		0.3
Effective tax rate	27.6	%	31.7	%	20.3	%

(a)The 2023 adjustments reflect expense due to the sale of our wholesale tire locations and tire distribution assets as well as the revaluation of deferred tax balances due to changes in the mix of pre-tax income in various U.S. state jurisdictions because of the sale. The 2022 adjustments reflect benefit due to differences in statutory tax rates from a loss year to years in which such net operating loss may be carried back.

Deferred Tax (Liabilities) Assets

Net Deferred Tax Asset/(Liability)
(thousands)		March 30, 2024		March 25, 2023
Deferred tax assets:
Lease liabilities	$	155,158	$	174,055
Insurance Accrual		11,304		10,288
Other		15,060		15,670
Total gross deferred tax assets		181,522		200,013
Valuation allowance		(162)		—
Total deferred tax assets		181,360		200,013
Deferred tax liabilities:
Leased assets		(120,479)		(136,057)
Goodwill		(79,895)		(70,145)
Property and equipment		(16,099)		(20,631)
Other		(1,849)		(878)
Total deferred tax liabilities		(218,322)		(227,711)
Total net deferred tax liability	$	(36,962)	$	(27,698)

Income Taxes Associated with Unrecognized Tax Benefits

Changes in Liability for Unrecognized Tax Benefits
(thousands)		2024		2023		2022
Balance at beginning of period	$	3,709	$	5,006	$	5,035
Additions based on tax positions related to the current year		—		97		1,271
Additions for tax positions of prior years		67		—		49
Reductions for tax positions of prior years		—		(224)		—
Lapse in statutes of limitation		(1,391)		(1,170)		(1,349)
Balance at end of period	$	2,385	$	3,709	$	5,006