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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax From Continuing Operations

For the years ended December 31, 2020, 2019, and 2018, our income tax provision was calculated based on income from continuing operations before income taxes as follows (in thousands):

			2020						2019						2018
United States			$	228,181					$	430,253					$	375,408
Foreign			24,145						20,636						19,620
			$	252,326					$	450,889					$	395,028

Schedule of Income Tax Provision

The income tax provision for the years ended December 31, 2020, 2019, and 2018 consisted of the following (in thousands):

			2020						2019						2018
Current provision:
Federal			$	115,633					$	89,264					$	75,405
State and local			36,182						31,099						28,063
Foreign			3,922						3,685						1,389
			155,737						124,048						104,857
Deferred (benefit) provision			(36,354)						1,701						4,249
			$	119,383					$	125,749					$	109,106

Schedule of U.S. Statutory Income Tax Rate Rec From Continuing Operations

Items accounting for the differences between income taxes computed at the federal statutory rate and the income tax provision for the years ended December 31, 2020, 2019, and 2018 were as follows (in thousands):

			2020						2019						2018
Federal income taxes at the statutory rate			$	52,989					$	94,687					$	82,946
State and local income taxes, net of federal tax benefits			19,290						24,904						21,827
Permanent differences			5,860						7,149						6,584
Excess tax benefit from share-based compensation			(142)						(733)						(1,227)
Non-deductible impairment charges			40,165						—						—
Foreign income taxes (including UK statutory rate changes)			(140)						(170)						70
Other			1,361						(88)						(1,094)
			$	119,383					$	125,749					$	109,106

Schedule of Deferred Tax Assets and Liabilities

The deferred income tax assets and deferred income tax liabilities recorded as of December 31, 2020 and 2019 were as follows (in thousands):

			2020						2019
Deferred income tax assets:
Excess of amounts expensed for financial statement purposes over amounts deducted for income tax purposes:
Insurance liabilities			$	47,602					$	47,022
Pension liability			6,789						2,733
Operating lease liabilities			68,652						68,158
Deferred compensation			36,790						32,685
Accrued federal payroll taxes (1)			27,428						—
Other (including liabilities and reserves)			29,816						25,647
Total deferred income tax assets			217,077						176,245
Valuation allowance for deferred tax assets			(3,856)						(3,463)
Net deferred income tax assets			213,221						172,782
Deferred income tax liabilities:
Costs capitalized for financial statement purposes and deducted for income tax purposes:
Goodwill and identifiable intangible assets			(146,821)						(156,604)
Operating lease right-of-use assets			(64,434)						(65,090)
Depreciation of property, plant and equipment			(23,958)						(18,622)
Other			(7,444)						(4,212)
Total deferred income tax liabilities			(242,657)						(244,528)
Net deferred income tax liabilities			$	(29,436)					$	(71,746)

_________________

(1)Represents employer Social Security tax payments deferred under the CARES Act.

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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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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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