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Taxes on Income (Tables)

12 Months Ended

Dec. 31, 2021

Taxes on Income [Abstract]

Earnings (Loss) Before Taxes

Earnings (loss) before taxes on income and details of the provision (benefit) for taxes on income were as follows (in thousands):

		Year Ended December 31,
		2021				2020				2019
Earnings (loss) before taxes on income:
United States		$	(290,181	)		$	(461,569	)		$	190,839
Foreign			(420	)			218				(1,019	)
		$	(290,601	)		$	(461,351	)		$	189,820
Provision (benefit) for taxes on income:
U.S. Federal:
Current		$	(460	)		$	(218,613	)		$	(312	)
Deferred			(48,843	)			37,436				45,133
		$	(49,303	)		$	(181,177	)		$	44,821
U.S. State:
Current		$	1,560			$	3,421			$	76
Deferred			4,424				(12,273	)			1,706
		$	5,984			$	(8,852	)		$	1,782
Foreign:
Current		$	(511	)		$	270			$	198
		$	(511	)		$	270			$	198
Consolidated:
Current		$	589			$	(214,922	)		$	(38	)
Deferred			(44,419	)			25,163				46,839
		$	(43,830	)		$	(189,759	)		$	46,801

Effective Income Tax Rate Reconciliation

The Company’s provision (benefit) for taxes on income varied from the statutory federal income tax rate due to the following:

		Year Ended December 31,
		2021				2020				2019
United States income tax statutory rate			21.0	%			21.0	%			21.0	%
State and local taxes, net of federal benefit			(1.7	)			1.2				0.7
CARES Act – net operating loss carryback			—				21.3				—
Other – net			(4.2	)			(2.4	)			3.0
			15.1	%			41.1	%			24.7	%

Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities were as follows (in thousands):

		December 31,
		2021				2020
Deferred tax assets:
Allowance for doubtful accounts		$	1,657			$	1,793
Inventory			13,180				13,496
Insurance accruals			4,052				4,864
Deferred compensation			6,081				6,040
Unrealized loss on defined benefit plans			6,126				15,929
Goodwill and other intangibles			65,852				44,487
Operating loss carryforwards			89,966				82,186
Retirement benefits			7,194				7,444
Other			6,247				5,480
			200,355				181,719
Valuation allowances			(20,095	)			(18,025	)
			180,260				163,694
Deferred tax liabilities:
Property			(655,550	)			(678,916	)
Deferred state taxes			(83,491	)			(74,468	)
Other			(15,371	)			(17,154	)
			(754,412	)			(770,538	)
		$	(574,152	)		$	(606,844	)

Reconciliation of Liability for Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of the liability for unrecognized tax benefits is as follows (in thousands):

		Year Ended December 31,
		2021				2020				2019
Balance at beginning of year		$	783			$	883			$	1,443
Additions based on tax positions related to the current year			13				262				51
Additions for tax positions of prior years			281				114				58
Reductions for tax positions of prior years			(340	)			(266	)			(669	)
Settlements			—				(210	)			—
Balance at end of year		$	737			$	783			$	883

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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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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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