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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Components of the Provision for Income Taxes

The components of the provision for income taxes are as follows:

		Year Ended December 31,
(In thousands)		2023				2022				2021
Current:
Federal		$	288,030			$	318,571			$	253,084
State			66,903				83,611				70,799
			354,933				402,182				323,883
Deferred:
Federal			42,728				51,862				26,382
State			10,613				10,146				3,783
			53,341				62,008				30,165
Total provision for income taxes		$	408,274			$	464,190			$	354,048

Schedule of Effective Income Tax Reconciliation of the U.S. Statutory Federal Income Tax Rates

The following is a reconciliation of income tax expense calculated using the U.S. statutory federal income tax rate with our income tax expense for 2023, 2022 and 2021:

		Year Ended December 31,
(In thousands)		2023				2022				2021
Tax provision at statutory rate		$	346,033			$	386,683			$	291,569
State income taxes, net of federal benefit			66,055				75,906				60,036
Other, net			(3,814	)			1,601				2,443
Total provision for income taxes		$	408,274			$	464,190			$	354,048

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities, which are included in “Other assets” and “Deferred income taxes” on our Balance Sheets, consist of the following:

		December 31,
(In thousands)		2023				2022
Deferred tax assets:
Claims and insurance reserves		$	29,776			$	31,736
Accrued vacation			19,849				20,330
Deferred compensation			41,343				39,973
Other			12,142				11,767
Total deferred tax assets			103,110				103,806
Deferred tax liabilities:
Depreciation and amortization			(460,703	)			(407,942	)
Other			(4,997	)			(5,113	)
Total deferred tax liabilities			(465,700	)			(413,055	)
Net deferred tax liability		$	(362,590	)		$	(309,249	)

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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.

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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.

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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.

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