Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Significant Components of the Provision for Income Taxes

The following table presents the significant components of the provision for income taxes:

	Fiscal Year
(in thousands)	2021		2020		2019
Current:
Federal	$	59,308	$	38,665	$	7,505
State	15,444		11,541		4,173
Total current provision	$	74,752	$	50,206	$	11,678
Deferred:
Federal	$	(4,966)	$	8,052	$	4,514
State	(4,217)		685		(527)
Total deferred provision (benefit)	$	(9,183)	$	8,737	$	3,987
Income tax expense	$	65,569	$	58,943	$	15,665

Reconciliation of Income Tax Expense at Statutory Federal Rate to Actual Income Tax Expense

The following table provides a reconciliation of income tax expense at the statutory federal rate to actual income tax expense:

	Fiscal Year
	2021				2020				2019
(in thousands)	Income tax expense		% pre-tax income		Income tax expense		% pre-tax income		Income tax expense		% pre-tax income
Statutory expense	$	53,581	21.0	%	$	50,618	21.0	%	$	7,187	21.0	%
State income taxes, net of federal benefit	9,522		3.7		9,258		3.8		1,352		4.0
Nondeductible compensation	3,545		1.4		3,007		1.3		4,313		12.6
Meals, entertainment and travel expense	2,028		0.8		1,476		0.6		2,440		7.1
Adjustment for uncertain tax positions	(984)		(0.4)		114		—		(805)		(2.4)
Valuation allowance change	(902)		(0.4)		(1,900)		(0.8)		1,290		3.8
Nondeductible fees and expenses	47		—		311		0.1		887		2.6
Noncontrolling interest – Piedmont	—		—		(2,447)		(1.0)		(1,826)		(5.3)
Other, net	(1,268)		(0.4)		(1,494)		(0.5)		827		2.4
Income tax expense	$	65,569	25.7	%	$	58,943	24.5	%	$	15,665	45.8	%

Reconciliation of Uncertain Tax Positions Excluding Accrued Interest

A reconciliation of uncertain tax positions, excluding accrued interest, is as follows:

	Fiscal Year
(in thousands)	2021		2020		2019
Beginning balance - gross uncertain tax positions	$	2,161	$	2,283	$	2,857
Increase as a result of tax positions taken in the current year	59		61		60
Increase as a result of tax positions taken in a prior year	—		504		—
Reduction as a result of the expiration of the applicable statute of limitations	(966)		(687)		(634)
Ending balance - gross uncertain tax positions	$	1,254	$	2,161	$	2,283

Temporary Differences and Carryforwards that Comprised Deferred Income Tax Assets and Liabilities

Temporary differences and carryforwards that comprised deferred income tax assets and liabilities were as follows:

(in thousands)	December 31, 2021		December 31, 2020
Acquisition related contingent consideration	$	133,114	$	107,769
Operating lease liabilities	35,382		34,632
Deferred revenue	26,852		27,882
Accrued liabilities	26,253		22,341
Deferred compensation	24,018		26,269
Postretirement benefits	13,969		14,726
Pension	4,617		11,055
Transactional costs	3,976		4,451
Financing lease agreements	1,820		1,618
Net operating loss carryforwards	1,418		1,628
Charitable contribution carryover	631		3,236
Other	3,199		10,138
Deferred income tax assets	$	275,249	$	265,745
Less: Valuation allowance for deferred tax assets	4,372		5,325
Net deferred income tax asset	$	270,877	$	260,420
Intangible assets	$	(177,214)	$	(182,585)
Depreciation	(173,124)		(159,359)
Right-of-use assets - operating leases	(34,347)		(33,316)
Inventory	(13,481)		(13,709)
Prepaid expenses	(6,774)		(6,319)
Patronage dividend	(2,369)		(4,555)
Deferred income tax liabilities	$	(407,309)	$	(399,843)
Net deferred income tax liability	$	(136,432)	$	(139,423)