INCOME TAXES (Tables)

12 Months Ended

Jul. 28, 2018

Schedule of Components of Income Tax Expense (Benefit)

The components of the provision for income taxes are:



	2018			2017
Federal:
Current	$	5,546		$	10,018
Deferred	(915		)	2,167

State:
Current	3,262			3,906
Deferred	(135		)	111

	$	7,758		$	16,202

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows:



	July 28, 2018			July 29, 2017
Deferred tax assets:
Leasing activities	$	7,396		$	8,115
Federal benefit of uncertain tax positions	182			304
Compensation related costs	2,795			2,543
Pension costs	1,673			6,410
Other	456			729

Total deferred tax assets	12,502			18,101

Deferred tax liabilities:
Tax over book depreciation	13,557			17,603
Patronage dividend receivable	3,281			5,164
Investment in partnerships	1,030			1,479
Other	47			—

Total deferred tax liabilities	17,915			24,246

Net deferred tax liability	$	(5,413	)	$	(6,145	)

Deferred income tax assets (liabilities) are included in the following captions on the consolidated balance sheets at July 28, 2018 and July 29, 2017:



	2018		2017
Other assets	646		611
Other liabilities	(6,059	)	(6,756	)

Schedule of Effective Income Tax Rate Reconciliation

The effective income tax rate differs from the statutory federal income tax rate as follows:



	2018		2017
Statutory federal income tax rate	26.9	%	35.0	%
State income taxes, net of federal tax benefit	7.0	%	6.2	%
Deferred tax revaluation due to Tax Act	(10.0	)%	—	%
Other	(0.3	)%	0.2	%

Effective income tax rate	23.6	%	41.4	%

Schedule of Unrecognized Tax Benefits Roll Forward

reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows:



	2018		2017
Balance at beginning of year	$	648	$	631
Additions based on tax positions related to prior periods	—		17

Balance at end of year	$	648	$	648