XML 79 R37.htm IDEA: XBRL DOCUMENT
v3.24.0.1

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Provision for Income Taxes | The provision for income taxes consists of the following:
| Year Ended December 31,
(in millions) | 2023 | 2022 | 2021
Current: |  |  |
Federal | $ | 96 |  | $ | 112 |  | $ | 86 |
State | 24 |  | 36 |  | 28 |
Foreign | 2 |  | — |  | 1 |
Total Current | 122 |  | 148 |  | 115 |
Deferred: |  |  |
Federal | 1 |  | (17) |  | (7) |
State | 3 |  | (6) |  | (3) |
Foreign | — |  | 2 |  | (2) |
Total Deferred | 4 |  | (21) |  | (12) |
Total | $ | 126 |  | $ | 127 |  | $ | 103 |
Schedule of U.S. Federal Statutory Income Tax Rate Reconciled to Effective Tax Rate | The U.S. federal statutory income tax rate reconciled to our effective tax rate is as follows:
| Year Ended December 31,
| 2023 | 2022 | 2021
(in millions, except percent) | Pre-Tax Income | Tax Expense/(Benefit) | Percent of Pre-Tax Income (Loss) | Pre-Tax Income | Tax Expense/(Benefit) | Percent of Pre-Tax Income (Loss) | Pre-Tax Income | Tax Expense/(Benefit) | Percent of Pre-Tax Income (Loss)
| $ | 501 |  |  |  | $ | 482 |  |  |  | $ | 441 |  |  |
U.S. federal statutory tax rate |  | $ | 105 |  | 21 | % |  | $ | 101 |  | 21 | % |  | $ | 93 |  | 21 | %
State income taxes, net of federal benefit |  | 34 |  | 7 |  |  | 34 |  | 7 |  |  | 32 |  | 7 |
Tax rate change |  | 1 |  | — |  |  | — |  | — |  |  | (1) |  | — |
Nondeductible meals, entertainment and penalties |  | 2 |  | — |  |  | 3 |  | 1 |  |  | 2 |  | — |
Stock based compensation |  | (2) |  | — |  |  | 3 |  | 1 |  |  | (2) |  | — |
Uncertain tax positions |  | — |  | — |  |  | — |  | — |  |  | (1) |  | — |
Tax credits |  | (6) |  | (1) |  |  | (8) |  | (2) |  |  | (7) |  | (2) |
State and tax return to provision adjustments |  | (11) |  | (2) |  |  | (9) |  | (2) |  |  | (10) |  | (2) |
Other |  | 3 |  | — |  |  | 3 |  | — |  |  | (3) |  | (1) |
Total |  | $ | 126 |  | 25 | % |  | $ | 127 |  | 26 | % |  | $ | 103 |  | 23 | %
Schedule of Significant Components of Deferred Tax Assets and Liabilities | Significant components of our deferred tax assets and liabilities are as follows:
| Year Ended December 31,
(in millions) | 2023 | 2022
Deferred tax assets: |  |
Net operating losses (federal and state) | $ | 6 |  | $ | 7 |
Accrued expenses | 18 |  | 17 |
Accrued workers' compensation costs | 9 |  | 8 |
Recovery credit | 2 |  | 20 |
Operating lease liabilities | 11 |  | 14 |
Stock based compensation | 2 |  | 3 |
Tax benefits relating to uncertain positions | 1 |  | 1 |
Tax credits (federal, state and foreign) | 7 |  | 7 |
Section 174 Capitalized R&D | 21 |  | 13 |
Other | 2 |  | 3
Total | 79 |  | 93 |
Valuation allowance | (8) |  | (8) |
Total deferred tax assets | 71 |  | 85 |
Deferred tax liabilities: |  |
Depreciation and amortization | (48) |  | (54) |
Prepaid commission expenses | (26) |  | (24) |
Operating lease right-of-use assets | (5) |  | (10) |
Total deferred tax liabilities | (79) |  | (88) |
Net deferred tax liabilities | $ | (8) |  | $ | (3) |
Schedule of Reconciliation of Beginning and Ending Valuation Allowance | A reconciliation of the beginning and ending amount of the valuation allowance is presented in the table below:
| Year Ended December 31,
(in millions) | 2023 | 2022 | 2021
Valuation allowance at January 1 | $ | 8 |  | $ | 5 |  | $ | 5 |
Charged to net income | — |  | 3 |  | — |
Valuation allowance at December 31 | 8 |  | 8 |  | 5 |
Schedule of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits (excluding interest and penalties) related to uncertain income tax provisions, which would affect the effective tax rate if recognized, is presented in the table below:
| Year Ended December 31,
(in millions) | 2023 | 2022 | 2021
Unrecognized tax benefits at January 1 | $ | 7 |  | $ | 7 |  | $ | 8 |
Additions for tax positions of current period | 2 |  | 2 |  | 1 |
Reductions for tax positions of prior period: |  |  |
Lapse of applicable statute of limitations | (2) |  | (2) |  | (1) |
Adjustments to tax positions | — |  | — |  | (1) |
Unrecognized tax benefits at December 31 | $ | 7 |  | $ | 7 |  | $ | 7 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 19 -SubTopic 10 -Topic 740 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-19 + Details
Name: | us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_SummaryOfValuationAllowanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration