Income Taxes (Tables)

12 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

Components of Income Tax Expense

Income tax expense is comprised of the following for the indicated periods (in thousands):

	Years Ended September 30,
	2025		2024			2023
Current:
Federal	$	13,613	$	11,964		$	9,902
State		7,267		5,356			4,583
Deferred
Federal		6,824		(2,719	)		(843	)
State		1,703		(1,270	)		342
	$	29,407	$	13,331		$	13,984

Provision for Income Taxes Differs from Income Taxes

The provision for income taxes differs from income taxes computed at the Federal statutory rate as a result of the following (in thousands):

	Years Ended September 30,
	2025			2024			2023
Income from continuing operations before taxes	$	102,902		$	48,554		$	45,929
Provision for income taxes:
Tax at Federal statutory rate	$	21,609		$	10,196		$	9,645
State taxes net of federal benefit		7,357			3,145			3,401
Permanent differences		355			286			520
Expiration of State NOL		1,931			2,160			—
Change in valuation allowance		(1,965	)		(2,328	)		252
Other		120			(128	)		166
	$	29,407		$	13,331		$	13,984

Components of Net Deferred Taxes

The components of the net deferred taxes for the years ended September 30, 2025 and September 30, 2024 using current tax rates are as follows (in thousands):

	September 30,
	2025			2024
Deferred tax assets:
Operating lease liabilities	$	26,907		$	26,534
Net operating loss carryforwards		404			2,516
Vacation accrual		2,748			2,785
Pension accrual		3,550			3,507
Allowance for bad debts		1,915			1,687
Insurance accrual		1,682			1,628
Fair value of derivative instruments		432			4,261
Other, net		328			350
Total deferred tax assets		37,966			43,268
Valuation allowance		(118	)		(2,109	)
Net deferred tax assets	$	37,848		$	41,159
Deferred tax liabilities:
Operating lease right-of-use assets	$	25,833		$	25,257
Property and equipment		18,032			14,502
Intangibles		21,669			20,152
Other, net		3,137			3,170
Total deferred tax liabilities	$	68,671		$	63,081
Net deferred taxes	$	(30,823	)	$	(21,922	)