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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of the Provisions for Income Taxes

The provision for income taxes consists of the following:

						Year Ended December 31,
($ in thousands)						2025						2024						2023
Current income tax expense:
U.S. federal						$	556					$	35,288					$	44,126
U.S. state and local						5,921						11,324						4,816
Foreign						—						38						10
Total current						6,477						46,650						48,952
Deferred income tax (benefit) expense, net:
U.S federal						34,020						(5,509)						(3,578)
U.S. state and local						1,519						(971)						2,994
Foreign						(10)						(1)						(7)
Total deferred						35,529						(6,481)						(591)
Total income tax provision						$	42,006					$	40,169					$	48,361

Schedule of Supplemental Cash Flows Information

Upon adoption of ASU 2023-09, Improvements to Income Tax Disclosures, as described in Note 1 "Basis of Presentation and Significant Accounting Policies", cash paid for income taxes, net of refunds, during the year ended December 31, 2025 was as follows:

($ in thousands)
Federal						$	18,160
State (1)						5,482
Foreign						—
Total cash paid for income taxes, net of refunds						$	23,642

(1)For the year ended December 31, 2025, Indiana was the only U.S state jurisdiction where cash payments equaled or exceeded 5% of total income taxes.

Supplemental cash flow information was as follows:

						Year Ended December 31,
($ in thousands)						2025						2024						2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases						$	68,799					$	63,958					$	55,933
Operating cash flows used for finance leases						$	214					$	—					$	—
Finance cash flows used for finance leases						$	516					$	—					$	—
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases						$	59,292					$	77,558					$	65,505
Finance leases						$	2,672					$	—					$	—

Schedule of the Reconciliation of Differences Between Income Taxes and Tax Provisions

Upon adoption of ASU 2023-09, Improvements to Income Tax Disclosures, as described in Note 1 "Basis of Presentation and Significant Accounting Policies", the reconciliation of taxes at the federal statutory rate to our provision for income taxes for the year ended December 31, 2025 was as follows:

($ in thousands)						Year Ended December 31, 2025
U.S. federal statutory tax rate						$	37,183		21.0		%
United States:
State and local income taxes (1)						6,200			3.5		%
Tax credits:
Research and development tax credits						(1,817)			(1.0)		%
Nontaxable or nondeductible items:
Section 162(m) permanent add back						2,826			1.6		%
Excess tax benefit on stock-based compensation						(3,646)			(2.1)		%
Other adjustments						1,260			0.7		%
Income taxes						$	42,006		23.7		%

(1)For the year ended December 31, 2025, the states that contributed to the majority (greater than 50%) of the tax effect in this category include Indiana and Tennessee.

A reconciliation of taxes at the federal statutory rate to our provision for income taxes for the years ended December 31, 2024 and 2023 in accordance with the guidance prior to the adoption of ASU 2023-09 was as follows:

($ in thousands)						2024									2023
Rate applied to pretax income						$	37,500		21.0		%				$	40,201		21.0		%
State taxes, net of federal tax effect						7,975			4.5		%				6,797			3.6		%
Research and development tax credits						(3,750)			(2.1)		%				(2,889)			(1.5)		%
Section 162(m) permanent add back						4,603			2.6		%				6,315			3.3		%
Excess tax benefit on stock-based compensation						(6,469)			(3.6)		%				(3,513)			(1.8)		%
Other						310			0.1		%				1,450			0.7		%
Income taxes						$	40,169		22.5		%				$	48,361		25.3		%

Schedule of Deferred Tax Assets and Liabilities

The composition of the deferred tax assets and liabilities is as follows:  

						As of December 31,
($ in thousands)						2025						2024
Deferred tax assets:
Trade receivables allowance						$	1,013					$	1,215
Inventory capitalization						4,021						4,329
Inventory reserves						9,089						8,503
Federal NOL carryforwards						565						386
State NOL carryforwards						1,144						453
Accrued expenses						17,247						18,831
Deferred compensation						838						805
Operating lease liabilities						51,109						50,784
Share-based compensation						7,286						6,498
Capitalized research & experimentation costs						—						30,140
Other						911						278
Total deferred tax assets before valuation allowance						93,223						122,222
Less: valuation allowance						(408)						(480)
Total deferred tax assets, net of valuation allowance						$	92,815					$	121,742
Deferred tax liabilities:
Prepaid expenses						$	(5,235)					$	(5,569)
Operating lease right-of-use assets						(49,920)						(49,785)
Depreciation expense						(49,678)						(45,026)
Intangibles						(84,857)						(82,708)
Total deferred tax liabilities						(189,690)						(183,088)
Net deferred tax liabilities						$	(96,875)					$	(61,346)

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