Income Taxes (Tables)

12 Months Ended

Dec. 28, 2024

Income Taxes

Schedule of Components of Income Tax Expense (Benefit)

(amounts in thousands)	2024		2023		2022
Current:
Federal	$	33,979	$	28,392	$	28,536
State		11,699		9,521		7,896
Deferred:
Federal		(5,939)		955		3,191
State		595		4,000		(4,042)
Total	$	40,334	$	42,868	$	35,581

Schedule of Effective Income Tax Rate Reconciliation

(amounts in thousands)	2024		2023		2022
Income taxes at federal statutory rate	$	31,558	$	30,806	$	33,763
State income taxes, net of federal income tax benefit		8,900		9,800		4,700
Nondeductible employee-related expenses		2,137		2,709		2,235
State deferred rate change		—		—		(5,462)
Tax Credits		(1,450)		—		—
Other		(810)		(448)		345
Provision for income taxes	$	40,334	$	42,868	$	35,581

Schedule of Deferred Tax Assets and Liabilities

(amounts in thousands)	2024		2023
Deferred tax assets:
Accounts receivable	$	794	$	540
Employment incentives		4,300		4,855
Self-insurance liability		9,283		9,155
Postretirement benefit obligations		6,454		6,565
Net operating loss and credit carryforwards		1,533		2,153
Unrecognized tax benefits		549		1,341
174 R&D Capitalization		6,411		2,307
Other		116		683
Total deferred tax assets		29,440		27,599
Deferred tax liabilities:
Inventories		(11,811)		(12,225)
Unrealized gains on marketable securities		(223)		(554)
Prepaids		(9,895)		(6,290)
Nondeductible accruals and other		382		-
Depreciation		(120,042)		(126,621)
Total deferred tax liabilities		(141,589)		(145,690)
Net deferred tax liability	$	(112,149)	$	(118,091)

Schedule of Unrecognized Tax Benefits

(amounts in thousands)	2024		2023
Unrecognized tax benefits at beginning of year	$	6,384	$	13,661
Reductions for tax positions of prior years		(1,042)		(948)
Settlements		(2,726)		(6,329)
Unrecognized tax benefits at end of year	$	2,616	$	6,384