XML 51 R33.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Summary of Income | Income before income taxes, classified by source of income, was as follows:
| Year ended December 31,
| 2024 |  | 2023 |  | 2022
Domestic | $ | 2,031,759 |  | $ | 1,637,756 |  | $ | 1,192,004
Foreign | (21,529) |  |  | (17,250) |  |  | (10,473) |
Income before income taxes | $ | 2,010,230 |  | $ | 1,620,506 |  | $ | 1,181,531
Schedule of Components of Provision for Income Taxes | The components of the provision for income taxes were as follows:
| Year ended December 31,
| 2024 |  | 2023 |  | 2022
Current tax: |  |  |  |  |
U.S. Federal | $ | 412,943 |  |  | $ | 314,757 |  |  | $ | 246,210
U.S. State and Local | 104,478 |  |  | 85,355 |  |  | 79,041 |
Foreign | 1,636 |  |  | 1,162 |  |  | 374 |
| 519,057 |  |  | 401,274 |  |  | 325,625
Deferred tax: |  |  |  |  |
U.S. Federal | (32,751) |  | (7,992) |  | (23,502) |
U.S. State and Local | (10,195) |  | (1,532) |  |  | (19,940)
Foreign | (4,385) |  |  | (7,606) |  | 3,771
| (47,331) |  | (17,130) |  | (39,671) |
Valuation allowance | 4,394 |  | 7,625 |  |  | (3,524) |
Provision for income taxes | $ | 476,120 |  |  | $ | 391,769 |  |  | $ | 282,430 |
Schedule of Effective Tax Rate | The effective tax rate differs from the statutory tax rates as follows:
| Year ended December 31,
| 2024 |  | 2023 |  | 2022
Statutory U.S. federal income tax rate | 21.0% |  | 21.0% |  | 21.0%
State income tax, net of related federal income tax benefit | 3.7 |  | 4.0 |  | 3.8
Federal tax credits | (0.9) |  |  | (1.0) |  |  | (1.0) |
Executive compensation disallowed | 0.5 |  | 0.8 |  | 0.8
Valuation allowance | 0.3 |  | 0.3 |  | 0.2
Uncertain tax position reserves | - |  | 0.4 |  | 0.3
Other | 0.2 |  | 0.2 |  | 0.6
Return to provision and other discrete items | (0.1) |  |  | (0.2) |  |  | (0.1)
Equity compensation related adjustments | (1.0) |  |  | (1.3) |  |  | (1.7) |
Effective income tax rate | 23.7% |  | 24.2% |  | 23.9%
Schedule of Deferred Income Tax Liabilities and Assets | The components of the deferred income tax assets and liabilities for continuing operations were as follows:
| December 31,
| 2024 |  | 2023
Deferred income tax liability: |  |  |
Leasehold improvements, property and equipment, net | $ | 262,692 |  | $ | 272,017
Goodwill and other assets | 1,753 |  | 1,743
Operating lease assets | 1,088,934 |  | 972,835
Total deferred income tax liability | 1,353,379 |  | 1,246,595
Deferred income tax asset: |  |  |
Gift card liability | 19,087 |  | 18,101
Capitalized transaction costs | 323 |  | 323
Stock-based compensation and other employee benefits | 61,574 |  | 50,954
Foreign net operating loss carry-forwards | 35,215 |  | 32,252
State credits | 872 |  | 1,838
Operating lease liabilities | 1,159,788 |  | 1,038,911
Allowances, reserves and other | 26,105 |  | 12,870
Capitalized research costs | 29,122 |  | 25,990
Prepaid assets and other | 10,334 |  | 6,637
State net operating loss carry-forwards | 3,867 |  | 4,332
Valuation allowance | (39,116) |  |  | (34,722) |
Total deferred income tax asset | 1,307,171 |  | 1,157,486
Deferred income tax liabilities | $ | 46,208 |  | $ | 89,109
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the unrecognized tax benefits was as follows:
| Year ended December 31,
| 2024 |  | 2023 |  | 2022
Beginning of year | $ | 16,488 |  | $ | 8,902 |  | $ | 5,262
Increase resulting from prior year tax positions | 3,737 |  | 7,561 |  | 3,937
Decrease resulting from prior year tax positions | (3,748) |  |  | (295) |  | - |
Increase resulting from current year tax positions | 916 |  | 783 |  | 312
Settlements with taxing authorities | - |  |  | (6) |  | -
Lapsing of statutes of limitations | (505) |  |  | (457) |  |  | (609) |
End of year | $ | 16,888 |  | $ | 16,488 |  | $ | 8,902

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration