Income Taxes (Tables)

12 Months Ended

Dec. 30, 2023

Income Taxes

Schedule of Components of Income Tax Expense (Benefit)

(amounts in thousands)	2023		2022		2021
Current:
Federal	$	28,392	$	28,536	$	20,771
State		9,521		7,896		6,374
Deferred:
Federal		955		3,191		8,074
State		4,000		(4,042)		4,239
Total	$	42,868	$	35,581	$	39,458

Schedule of Effective Income Tax Rate Reconciliation

(amounts in thousands)	2023		2022		2021
Income taxes at federal statutory rate	$	30,806	$	33,763	$	31,144
State income taxes, net of federal income tax benefit		9,800		4,700		6,207
Nondeductible employee-related expenses		2,709		2,235		2,530
State deferred rate change		—		(5,462)		-
Other		(448)		345		(423)
Provision for income taxes	$	42,868	$	35,581	$	39,458

Schedule of Deferred Tax Assets and Liabilities

(amounts in thousands)	2023		2022
Deferred tax assets:
Accounts receivable	$	540	$	1,195
Employment incentives		4,855		6,329
Self-insurance liability		9,155		8,717
Postretirement benefit obligations		6,565		5,963
Net operating loss and credit carryforwards		2,153		5,009
Unrecognized tax benefits		1,341		2,869
174 R&D Capitalization		2,307		426
Other		683		675
Total deferred tax assets		27,599		31,183
Deferred tax liabilities:
Inventories		(12,225)		(13,398)
Unrealized gains on marketable securities		(554)		1,280
Prepaids		(6,290)		(5,570)
Depreciation		(126,621)		(124,720)
Total deferred tax liabilities		(145,690)		(142,408)
Net deferred tax liability	$	(118,091)	$	(111,225)

Schedule of Unrecognized Tax Benefits

(amounts in thousands)	2023		2022
Unrecognized tax benefits at beginning of year	$	13,661	$	10,036
Increases based on tax positions related to the current year		—		2,376
Additions for tax positions of prior year		—		1,249
Reductions for tax positions of prior years		(948)		—
Settlements		(6,329)		—
Expiration of the statute of limitations for assessment of taxes		—		—
Unrecognized tax benefits at end of year	$	6,384	$	13,661