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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Income Before Income Taxes | Income before income taxes from continuing operations consisted of the following:
| Year ended December 31,
| 2024 |  | 2023 |  | 2022
Domestic | $ | 1,374,571 |  |  | $ | 1,100,420 |  |  | $ | 926,604 |
International | 155,822 |  |  | 76,674 |  |  | 39,674 |
| $ | 1,530,393 |  |  | $ | 1,177,094 |  |  | $ | 966,278 |
Components of Income Tax Expense (Benefit) | Income tax expense for continuing operations consisted of the following:
| Year ended December 31,
| 2024 |  | 2023 |  | 2022
Current: |  |  |  |  |
Federal | $ | 253,504 |  |  | $ | 200,070 |  |  | $ | 201,932 |
State | 52,410 |  |  | 38,370 |  |  | 55,593 |
International | 31,532 |  |  | 21,008 |  |  | 16,253 |
Total current income tax | 337,446 |  |  | 259,448 |  |  | 273,778 |
Deferred: |  |  |  |  |
Federal | (47,715) |  |  | (40,234) |  |  | (66,400) |
State | (2,855) |  |  | 367 |  |  | (12,289) |
International | (7,220) |  |  | 535 |  |  | 2,998 |
Total deferred income tax | (57,790) |  |  | (39,332) |  |  | (75,691) |
| $ | 279,656 |  |  | $ | 220,116 |  |  | $ | 198,087 |
Reconciliation between U.S. Federal Income Tax Rate and Effective Tax Rate | The reconciliation between the Company’s effective tax rate from continuing operations and the U.S. federal income tax rate is as follows:
| Year ended December 31,
| 2024 |  | 2023 |  | 2022
Federal income tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State income taxes, net of federal benefit | 3.4 |  |  | 2.6 |  |  | 3.8 |
Equity compensation | (1.1) |  |  | (1.1) |  |  | (1.6) |
Nondeductible executive compensation | 0.7 |  |  | 1.2 |  |  | 1.1 |
Political advocacy costs | 0.3 |  |  | 0.2 |  |  | 2.2 |
Unrecognized tax benefits | (0.5) |  |  | (1.1) |  |  | (1.1) |
Change in international valuation allowance | 0.1 |  |  | 0.8 |  |  | 1.2 |
Credits | (1.2) |  |  | (1.2) |  |  | (1.2) |
Other | 0.3 |  |  | 1.9 |  |  | 1.1 |
Impact of noncontrolling interests primarily attributable to non-tax paying entities | (4.7) |  |  | (5.6) |  |  | (6.0) |
Effective tax rate | 18.3 | % |  | 18.7 | % |  | 20.5 | %
Deferred Tax Assets and Liabilities Arising from Temporary Differences | Deferred tax assets and liabilities arising from temporary differences for continuing operations were as follows:
| December 31,
| 2024 |  | 2023
Receivables | $ | 37,630 |  |  | $ | 23,075 |
Accrued liabilities | 74,419 |  |  | 81,281 |
Operating lease liabilities | 508,729 |  |  | 533,859 |
Net operating loss carryforwards | 161,371 |  |  | 183,216 |
Investments in partnerships | 4,108 |  |  | — |
Other | 54,600 |  |  | 52,142 |
Deferred tax assets | 840,857 |  |  | 873,573 |
Valuation allowance | (107,952) |  |  | (113,237) |
Net deferred tax assets | 732,905 |  |  | 760,336 |
Intangible assets | (757,797) |  |  | (731,024) |
Property and equipment | (63,726) |  |  | (127,191) |
Operating lease assets | (464,455) |  |  | (486,864) |
Investments in partnerships | — |  |  | (19,119) |
Other | (66,035) |  |  | (87,918) |
Deferred tax liabilities | (1,352,013) |  |  | (1,452,116) |
Net deferred tax liabilities | $ | (619,108) |  |  | $ | (691,780) |
Reported as: |  |  |
Deferred tax liabilities | $ | (665,361) |  |  | $ | (726,217) |
Deferred tax assets (included in Other long-term assets) | 46,253 |  |  | 34,437 |
| $ | (619,108) |  |  | $ | (691,780) |
Schedule of Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending liability for unrecognized tax benefits that do not meet the more-likely-than-not threshold is as follows:
| Year ended December 31,
| 2024 |  | 2023
Beginning balance | $ | 47,379 |  |  | $ | 63,985 |
Additions for tax positions related to current year | 3,866 |  |  | 4,088 |
Adjustments for tax positions related to prior years | (1,452) |  |  | (7,273) |
Reductions related to lapse of applicable statute | (8,309) |  |  | (5,428) |
Reductions related to settlements with taxing authorities | — |  |  | (7,993) |
Ending balance | $ | 41,484 |  |  | $ | 47,379 |

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