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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2022
INCOME TAXES |
Company's income tax provision | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
For the years ended December 31, |  | 2022 |  | 2021 |  | 2020
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | $ | 92,793 | ​ | $ | 87,888 | ​ | $ | 67,861
State | ​ |  | 26,786 | ​ |  | 24,131 | ​ |  | 18,381
Foreign | ​ |  | 9,144 | ​ |  | 10,480 | ​ |  | 8,869
Total current tax | ​ |  | 128,723 | ​ |  | 122,499 | ​ |  | 95,111
Deferred: | ​ |  |  | ​ |  |  | ​ |  |
Federal | ​ |  | (333) | ​ |  | 1,735 | ​ |  | (12)
State | ​ |  | 2,011 | ​ |  | 1,795 | ​ |  | 312
Foreign | ​ |  | (83) | ​ |  | (109) | ​ |  | 549
Total deferred tax | ​ |  | 1,595 | ​ |  | 3,421 | ​ |  | 849
Total income tax provision | ​ | $ | 130,318 | ​ | $ | 125,920 | ​ | $ | 95,960
​
Primary factors causing income tax expense to be different than the federal statutory rate | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
For the years ended December 31, |  | 2022 |  | 2021 |  | 2020
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income tax at statutory rate | ​ | $ | 104,773 | ​ | $ | 101,485 | ​ | $ | 76,555
State income tax expense (net of federal benefit) | ​ |  | 20,560 | ​ |  | 19,135 | ​ |  | 14,393
Foreign tax expense | ​ |  | 1,907 | ​ |  | 2,837 | ​ |  | 2,341
Foreign tax credit | ​ |  | (292) | ​ |  | (273) | ​ |  | (240)
Executive compensation | ​ |  | 2,281 | ​ |  | 2,786 | ​ |  | 5,557
Restricted stock adjustments | ​ |  | (1,422) | ​ |  | (3,468) | ​ |  | (3,927)
Other | ​ |  | 2,511 | ​ |  | 3,418 | ​ |  | 1,281
Total income tax provision | ​ | $ | 130,318 | ​ | $ | 125,920 | ​ | $ | 95,960
​
Significant components of the Company's deferred tax assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, |  | 2022 |  | 2021
(in thousands) |  | ​ |  |  | ​ |
Deferred tax assets: |  | ​ |  |  | ​ |
Insurance and contingencies | ​ | $ | 21,695 | ​ | $ | 18,258
Unearned revenues | ​ |  | 12,930 | ​ |  | 12,051
Compensation and benefits | ​ |  | 14,528 | ​ |  | 13,546
State and foreign operating loss carryforwards | ​ |  | — | ​ |  | 1,234
Bad debt reserve | ​ |  | 4,301 | ​ |  | 3,873
Foreign tax credit | ​ |  | 3,562 | ​ |  | 4,775
Termite accrual | ​ | ​ | 813 | ​ | ​ | 642
Net pension liability | ​ | ​ | 169 | ​ | ​ | 195
Other | ​ |  | 1,648 | ​ |  | 3,371
Valuation allowance | ​ |  | — | ​ |  | (192)
Total deferred tax assets | ​ |  | 59,646 | ​ |  | 57,753
Deferred tax liabilities: | ​ |  |  | ​ |  |
Depreciation and amortization | ​ |  | (22,663) | ​ |  | (24,261)
Intangibles and other | ​ |  | (59,346) | ​ |  | (55,300)
Total deferred tax liabilities | ​ | $ | (82,009) | ​ | $ | (79,561)
Net deferred taxes | ​ |  |  | ​ |  |
Deferred tax assets | ​ | $ | 1,792 | ​ | $ | 2,948
Deferred tax liabilities | ​ | $ | (24,154) | ​ | $ | (24,757)
​
Analysis of the valuation allowance | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, |  | 2022 |  | 2021
(in thousands) | ​ | ​ | ​ | ​ | ​ | ​
Valuation allowance at beginning of year | ​ | $ | 192 | ​ | $ | 144
(Decrease) increase in valuation allowance | ​ |  | (192) | ​ |  | 48
Valuation allowance at end of year | ​ | $ | — | ​ | $ | 192
​
Reconciliation of the beginning and ending amount of unrecognized tax benefits | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, |  | 2022 |  | 2021
(in thousands) |  | ​ |  |  | ​ |
Unrecognized tax benefits at beginning of year | ​ | $ | 1,018 | ​ | $ | 844
Additions for tax positions of prior years | ​ |  | 376 | ​ |  | 174
Unrecognized tax benefits at end of year | ​ | $ | 1,394 | ​ | $ | 1,018
​

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI https://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32840-109319 + Details
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