v3.26.1
Income Taxes (Tables)
12 Months Ended
May 30, 2026
Income Taxes [Abstract]  
Tax Expense by Jurisdiction
Fiscal year
ended
May
30, 2026
May
31, 2025
June 1, 2024
Current:
Federal
$
29,749
$
312,000
$
83,721
State
(4,220)
61,340
9,640
25,529
373,340
93,361
Deferred:
Federal
59,739
12,703
(7,371)
State
7,624
(1,133)
(2,301)
67,363
11,570
(9,672)
Total
income
tax
provision
$
92,892
$
384,910
$
83,689
Deferred Tax Assets and Liabilities
May
30, 2026
May
31, 2025
Deferred
tax
assets:
Accrued
expenses
$
3,985
$
3,620
State
operating
loss carryforwards
2
6
Other comprehensive
income
913
770
Right of
use - asset
3,334
234
Other
12,969
13,239
Total
deferred
tax
assets
21,203
17,869
Deferred
tax
liabilities:
Property,
plant
and
equipment
$
(180,377)
$
(128,789)
Inventories
(49,478)
(35,041)
Investment
in affiliates
(1,618)
(2,205)
Right of
use - liability
(3,358)
(240)
Other
(8,244)
(6,245)
Total
deferred
tax
liabilities
(243,075)
(172,520)
Net deferred
tax
liabilities
$
(221,872)
$
(154,651)
Reconciliation of Effective Tax Expense
Fiscal year
end May
30, 2026
Amount
Percent
U.S. federal
statutory
tax
rate
$
86,226
21.0
%
State
and
local income
taxes*
4,290
1.1
Tax
credits
(251)
(0.1)
Nontaxable
or nondeductible
items
2,627
0.7
Provision for
income
taxes
$
92,892
22.7
%
*State taxes
in
Georgia, Florida,
Mississippi, and
Texas
made up the majority (greater than
50%) of the tax effect
in
this category.
Fiscal year
end
May
31, 2025
June 1, 2024
Statutory
federal
income
tax
$
337,042
$
75,931
State
income
taxes,
net
47,169
5,798
Other,
net
699
1,960
$
384,910
$
83,689
Summary of Income Taxes Paid (Net of Refunds) by Jurisdiction
Fiscal year
end
May
30, 2026
Federal
$
89,583
State
30,344
Income
tax
payments
$
119,927