Income Taxes (Tables)

12 Months Ended

Dec. 29, 2018

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 years 2018, 2017 and 2016 (amounts in thousands):

	Fiscal 2018			Fiscal 2017			Fiscal 2016
Current Taxes:
Federal	$	11,642		$	53,076		$	86,235
State		6,702			7,403			13,983
		18,344			60,479			100,218
Deferred Taxes:
Federal		21,762			(59,385	)		(11,656	)
State		(105	)		(1,921	)		(2,801	)
		21,657			(61,306	)		(14,457	)
Income tax expense (benefit)	$	40,001		$	(827	)	$	85,761

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% for fiscal year 2018, and 35% for fiscal years 2017, and 2016 (amounts in thousands):

	Fiscal 2018			Fiscal 2017			Fiscal 2016
Tax at U.S. federal income tax rate	$	41,404		$	52,253		$	87,338
State income taxes, net of federal income tax benefit		5,213			3,564			7,266
Tax reform impact		(5,575	)		(48,160	)		—
Section 199 qualifying production activities benefit		—			(5,422	)		(8,007	)
Net share-based payments (windfalls) shortfalls*		1,639			(1,001	)		—
Other		(2,680	)		(2,061	)		(836	)
Income tax expense (benefit)	$	40,001		$	(827	)	$	85,761

* Applied beginning in fiscal 2017 upon adoption of new guidance.

Components of Deferred Tax Assets and (Liabilities)

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

	December 29, 2018			December 30, 2017
Self-insurance	$	5,208		$	4,972
Compensation and employee benefits		8,718			8,836
Deferred income		8,867			8,705
Loss and credit carryforwards		14,027			13,453
Equity-based compensation		4,646			6,831
Hedging		1,397			2,754
Pension and postretirement benefits		10,764			13,344
Other		9,639			9,657
Deferred tax assets valuation allowance		(364	)		(111	)
Deferred tax assets		62,902			68,441
Depreciation		(59,294	)		(47,552	)
Intangibles		(104,380	)		(101,890	)
Other		(1,886	)		(1,975	)
Deferred tax liabilities		(165,560	)		(151,417	)
Net deferred tax liability	$	(102,658	)	$	(82,976	)

Reconciliation of Total Amounts of Unrecognized Tax Benefits

The following is a reconciliation of the total amounts of unrecognized tax benefits for fiscal years 2018, 2017 and 2016 (amounts in thousands):

	Fiscal 2018			Fiscal 2017			Fiscal 2016
Unrecognized tax benefit at beginning of fiscal year	$	1,259		$	1,754		$	727
Gross increases		—			—			1,488
Lapses of statutes of limitations		(509	)		(495	)		(461	)
Unrecognized tax benefit at end of fiscal year	$	750		$	1,259		$	1,754