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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of Income Tax Provision

The income tax provision was as follows (in thousands):

Year Ended December 31,		2017				2016				2015
Current:
Federal		$	95,128			$	68,088			$	58,408
State		16,883				13,884				14,572
		112,011				81,972				72,980
Deferred:
Federal		(14,257		)		4,893				6,046
State		4,098				(400		)		679
		(10,159		)		4,493				6,725
Total		$	101,852			$	86,465			$	79,705

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation between amounts computed using the federal income tax rate of 35% and our income tax provision is shown in the following tabulation (in thousands):

Year Ended December 31,		2017				2016				2015
Federal tax provision at statutory rate		$	121,474			$	99,233			$	91,947
State taxes, net of federal income tax benefit		13,308				10,784				9,357
Equity investment basis difference		—				9,470				11,048
Non-deductible items		1,316				1,436				882
Permanent differences related to stock-based compensation		(822		)		139				156
Net change in valuation allowance		330				(5,133		)		(3,303		)
General business credits		(934		)		(27,950		)		(29,093		)
Deferred revaluation for change in statutory tax rate		(32,901		)		—				—
Other		81				(1,514		)		(1,289		)
Income tax provision		$	101,852			$	86,465			$	79,705

Schedule of Deferred Tax Assets and Liabilities

Individually significant components of the deferred tax assets and (liabilities) are presented below (in thousands):

December 31,		2017				2016
Deferred tax assets:
Deferred revenue and cancellation reserves		$	39,397			$	49,332
Allowances and accruals, including state NOL carryforward amounts		36,314				49,074
Credits and other		1,112				1,781
Valuation allowance		(557		)		(227		)
Total deferred tax assets		76,266				99,960
Deferred tax liabilities:
Inventories		(20,926		)		(22,253		)
Goodwill		(35,042		)		(41,107		)
Property and equipment, principally due to differences in depreciation		(73,399		)		(93,943		)
Prepaid expenses and other		(3,176		)		(1,732		)
Total deferred tax liabilities		(132,543		)		(159,035		)
Total		$	(56,277	)		$	(59,075	)

Schedule of Unrecognized Tax Benefits Roll Forward

The following is a reconciliation of our unrecognized tax benefits (in thousands):

Balance, December 31, 2015	$	1,031
Decrease related to tax positions taken - prior year	(1,031		)
Balance, December 31, 2016	$	—
Decrease related to tax positions taken - prior year	—
Balance, December 31, 2017	$	—

Summary of Open Tax Years

Open tax years at December 31, 2017 included the following:

Federal	2014 - 2017
20 states	2013 - 2017

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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 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.

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