Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Components of Income Tax Expense (Benefit)

The company’s provision for income tax expense (benefit) consists of the following for Fiscal 2022, 2021, and 2020 (amounts in thousands):

	Fiscal 2022			Fiscal 2021			Fiscal 2020
Current Taxes:
Federal	$	54,462		$	46,018		$	64,113
State		14,409			11,790			15,434
		68,871			57,808			79,547
Deferred Taxes:
Federal		3,508			6,946			(26,112	)
State		(2,062	)		(169	)		(5,042	)
		1,446			6,777			(31,154	)
Income tax expense	$	70,317		$	64,585		$	48,393

Reconciliation of Effective Tax Amount

Income tax expense (benefit) differs from the amount computed by applying the applicable U.S. federal income tax rate of 21% because of the effect of the following items for Fiscal 2022, 2021 and 2020 (amounts in thousands):

	Fiscal 2022			Fiscal 2021			Fiscal 2020
Tax at U.S. federal income tax rate	$	62,729		$	56,862		$	42,149
State income taxes, net of federal income tax benefit		9,754			9,181			8,209
Net share-based windfalls		(2,219	)		(104	)		(80	)
Other		53			(1,354	)		(1,885	)
Income tax expense	$	70,317		$	64,585		$	48,393

Components of Deferred Tax Assets and (Liabilities)

Deferred tax assets (liabilities) are comprised of the following (amounts in thousands):

	December 31, 2022			January 1, 2022
Self-insurance	$	6,507		$	5,502
Compensation and employee benefits		9,991			8,816
Deferred income		3,834			4,948
Loss and credit carryforwards		13,138			12,990
Equity-based compensation		7,692			6,797
Legal accrual		1,369			6,514
Deferred payroll tax under CARES act		—			4,100
Pension and postretirement benefits		384			1,722
Financing and operating lease right-of-use liabilities		72,470			77,422
Capitalized research and development costs		14,898			—
Other		7,101			6,642
Valuation allowance		(1,030	)		(1,030	)
Deferred tax assets		136,354			134,423
Depreciation		(74,402	)		(71,041	)
Intangibles		(119,380	)		(114,882	)
Financing and operating lease right-of-use assets		(70,385	)		(75,233	)
Hedging		(700	)		(2,015	)
Other		(6,319	)		(5,009	)
Deferred tax liabilities		(271,186	)		(268,180	)
Net deferred tax liability	$	(134,832	)	$	(133,757	)

Reconciliation of Total Amounts of Unrecognized Tax Benefits

The following is a reconciliation of the total amounts of unrecognized tax benefits for Fiscal 2022, 2021, and 2020 (amounts in thousands):

	Fiscal 2022		Fiscal 2021		Fiscal 2020
Unrecognized tax benefit at beginning of fiscal year	$	—	$	—	$	306
Lapses of statutes of limitations		—		—		(306	)
Unrecognized tax benefit at end of fiscal year	$	—	$	—	$	—