Note 8 - Income Taxes (Tables)

12 Months Ended

May 02, 2020

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	(In thousands)
	Fiscal			Fiscal		Fiscal
	2020			2019		2018
Current	$	40,647		$	39,673	$	55,039
Deferred		(1,164	)		3,351		676
Total	$	39,483		$	43,024	$	55,715

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	(In thousands)
	2020		2019
Deferred tax assets:
Accrued expenses and other	$	4,930	$	3,705
Inventory and amortizable assets		565		265
Total deferred tax assets		5,495		3,970
Deferred tax liabilities:
Property		18,872		18,505
Intangibles and other		1,446		1,452
Total deferred tax liabilities		20,318		19,957
Net deferred tax liabilities	$	14,823	$	15,987

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Fiscal			Fiscal			Fiscal
	2020			2019			2018
Statutory federal income tax rate		21.0	%		21.0	%		30.4	%
State income taxes, net of federal benefit		2.9			2.9			2.4
Domestic manufacturing deduction benefit		-			-			(2.4	)
Re-measurement of deferred taxes		-			-			(2.9	)
Other differences		(.6	)		(.5	)		(.4	)
Effective income tax rate		23.3	%		23.4	%		27.1	%

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	(In thousands)
	Fiscal			Fiscal			Fiscal
	2020			2019			2018
Beginning balance	$	1,868		$	1,733		$	1,743
Increases due to current period tax positions		120			139			204
Decreases due to lapse of statute of limitations and audit resolutions		(14	)		(4	)		(214	)
Ending balance	$	1,974		$	1,868		$	1,733