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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense | Components of income tax expense are as follows (in thousands):
|  | Years Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Current taxes: |  |  |  |  |  |
Federal |  | $ | 99,174 |  |  | $ | 41,019 |  |  | $ | 37,926 |
State |  | 21,012 |  |  | 11,644 |  |  | 9,162 |
|  | 120,186 |  |  | 52,663 |  |  | 47,088 |
Deferred taxes: |  |  |  |  |  |
Federal |  | (9,725) |  |  | (8) |  |  | 6,687 |
State |  | (370) |  |  | 627 |  |  | 2,147 |
|  | (10,095) |  |  | 619 |  |  | 8,834 |
Total |  | $ | 110,091 |  |  | $ | 53,282 |  |  | $ | 55,922 |
Schedule of Income Tax Reconciliation | Income taxes for the years ended December 31, 2020, 2019 and 2018, differ from the expected amounts computed using the federal statutory income tax rate of 21% as a result of the following (in thousands):
|  | Years Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Expected taxes at current federal statutory income tax rate |  | $ | 112,049 |  |  | $ | 63,618 |  |  | $ | 59,483 |
State income taxes, net of federal tax benefit |  | 16,307 |  |  | 9,999 |  |  | 8,934 |
Tax Act revaluation of deferred tax balances |  | — |  |  | — |  |  | (2,741) |
Federal tax credits |  | (16,523) |  |  | (20,582) |  |  | (10,330) |
Non-deductible costs and other |  | (1,742) |  |  | 247 |  |  | 576 |
Income tax expense |  | $ | 110,091 |  |  | $ | 53,282 |  |  | $ | 55,922 |
Schedule of Deferred Tax Assets and Liabilities | Deferred tax assets and liabilities are comprised of timing differences (in thousands) as follows:
|  | At December 31,
|  | 2020 |  | 2019
Deferred tax assets: |  |  |  |
Real estate |  | $ | 18,710 |  |  | $ | 12,090 |
Warranty reserve |  | 5,588 |  |  | 5,190 |
Wages payable |  | 7,798 |  |  | 6,429 |
Equity-based compensation |  | 7,114 |  |  | 5,991 |
Accrued expenses |  | 193 |  |  | 75 |
Net operating loss carry-forwards |  | — |  |  | 752 |
Other |  | 5,498 |  |  | 4,488 |
Total deferred tax assets |  | 44,901 |  |  | 35,015 |
Deferred tax liabilities: |  |  |  |
Goodwill |  | 879 |  |  | 3 |
Prepaids |  | 1,487 |  |  | 2,113 |
Fixed assets |  | 6,495 |  |  | 6,982 |
Total deferred tax liabilities |  | 8,861 |  |  | 9,098 |
Deferred tax assets, net |  | 36,040 |  |  | 25,917 |
Other deferred tax liabilities - state franchise taxes |  | 4,476 |  |  | 4,449 |
Net deferred tax assets and liabilities |  | $ | 31,564 |  |  | $ | 21,468 |

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