Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Significant Components of Income Tax (Benefit) Provision

Significant components of the income tax provision (benefit) are as follows:

	2022		2021			2020
	(in thousands)
Current:
Federal	$	10,453	$	(4,473	)	$	25,115
State		4,683		2,078			9,455
Total current		15,136		(2,395	)		34,570
Deferred:
Federal		8,196		(2,762	)		16,363
State		841		(2,487	)		1,337
Total deferred		9,037		(5,249	)		17,700
Total income tax provision (benefit)	$	24,173	$	(7,644	)	$	52,270

Reconciliations to Statutory Rates

The reconciliations to statutory rates are as follows:

	2022			2021			2020
Statutory rate		21.0	%		21.0	%		21.0	%
State income taxes, net of federal benefit		4.1			11.0			4.4
Deduction relating to excess stock-based compensation		(0.9	)		(153.8	)		(4.3	)
Non-deductible meals & entertainment		0.6			5.6			0.2
Change in unrecognized tax benefits (including interest and penalty)		—			(8.7	)		—
Federal and state provision to return		(0.2	)		(7.1	)		(0.1	)
Change in valuation allowance		1.2			21.9			0.1
Other		0.6			(0.6	)		0.1
		26.4	%		(110.7	)%		21.4	%

Significant Components of Company's Deferred Tax Assets and Liabilities

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

	December 31, 2022			December 25, 2021
	(in thousands)
Deferred tax assets:
Lease liabilities	$	13,994		$	16,236
Inventory reserves		8,595			14,343
Stock-based compensation expense		7,441			6,713
Loss carryforwards		968			3,859
Accrued expenses		4,609			3,449
Accrued commitments for inventory at vendor locations		1,799			2,607
Tax credit carryforwards		813			1,874
Accrued destruction costs		—			1,538
Other		1,833			2,703
Total deferred tax assets		40,052			53,322
Valuation allowance		(4,600	)		(3,341	)
Total deferred tax assets, net of valuation allowance		35,452			49,981
Deferred tax liabilities:
Property, plant, and equipment		(103,561	)		(102,696	)
Right-of-use assets		(11,375	)		(14,035	)
Intangible assets amortization		(10,373	)		(15,024	)
Prepaid expenses		(6,735	)		(5,721	)
Total deferred tax liabilities		(132,044	)		(137,476	)
Net deferred tax liabilities	$	(96,592	)	$	(87,495	)

Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2022			2021
	(in thousands)
Balance at beginning of period	$	232		$	812
Increases related to current period tax positions		41			59
(Decreases) increases related to prior period tax positions		(30	)		36
Decreases related to lapse of statute of limitations		—			(675	)
Balance at end of period	$	243		$	232