Income Taxes (Tables)

12 Months Ended

Jun. 01, 2019

Income tax expense (benefit) consisted of the following:



	Fiscal year ended
	June 1, 2019		June 2, 2018			June 3, 2017
Current:
Federal	$	8,160	$	18,560		$	(48,030	)
State	1,460		6,390			(6,670		)
	9,620		24,950			(54,700		)
Deferred:
Federal	4,843		11,038			13,076
Enacted rate change	—		(42,973		)	—
State	1,280		(1,874		)	1,757
	6,123		(33,809		)	14,833
	$	15,743	$	(8,859	)	$	(39,867	)

Deferred Tax Assets and Liabilities

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



	June 1, 2019		June 2, 2018
Deferred tax liabilities:
Property, plant and equipment	$	49,275	$	47,899
Inventories	27,750		25,494
Investment in affiliates	7,609		7,996
Other comprehensive income	324		—
Other	2,596		1,616
Total deferred tax liabilities	87,554		83,005

Deferred tax assets:
Accrued expenses	2,170		3,013
State operating loss carryforwards	133		566
Other comprehensive loss	—		95
Other	2,654		3,276
Total deferred tax assets	4,957		6,950
Net deferred tax liabilities	$	82,597	$	76,055

Reconciliation of Effective Tax Expense

The differences between income tax expense (benefit) at the Company’s effective income tax rate and income tax expense at the statutory federal income tax rate were as follows:

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	Fiscal year end
	June 1, 2019			June 2, 2018			June 3, 2017

Statutory federal income tax (benefit)	$	14,694		$	34,105		$	(39,950	)
State income tax (benefit)	2,164			3,200			(3,193		)
Domestic manufacturers deduction	—			(2,545		)	4,095
Enacted rate change	—			(42,973		)	—
Tax exempt interest income	(197		)	(101		)	(206		)
Other, net	(918		)	(545		)	(613		)
	$	15,743		$	(8,859	)	$	(39,867	)