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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Provision (Benefit) for Income Tax Attributable to Income (Loss) from Continuing Operations Before Income Taxes | The provision for income tax attributable to income before income taxes consisted of (in thousands):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Current: |  |  |  |  |
Federal | $ | 97,436 |  |  | $ | 142,045 |  |  | $ | 130,700 |
State | 23,873 |  |  | 26,513 |  |  | 35,266 |
Total current taxes | 121,309 |  |  | 168,558 |  |  | 165,966 |
Deferred: |  |  |  |  |
Federal | (5,926) |  |  | 8,812 |  |  | (8,771) |
State | 2,781 |  |  | 13,433 |  |  | (800) |
Total deferred taxes | (3,145) |  |  | 22,245 |  |  | (9,571) |
Total income tax expense | $ | 118,164 |  |  | $ | 190,803 |  |  | $ | 156,395 |
Schedule of Effective Tax Rate Differs from Federal Statutory Rate | The Company’s provision for income taxes was different from the amount computed by applying the statutory federal income tax rate of 21% to the underlying income before income taxes as a result of the following (in thousands):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Taxes at the U.S. federal statutory rate | $ | 98,122 |  |  | $ | 162,371 |  |  | $ | 131,373 |
State income taxes, net of federal tax impact | 20,138 |  |  | 32,262 |  |  | 27,234 |
Non-deductible transaction costs | — |  |  | 49 |  |  | 136 |
Federal energy credits | (3,760) |  |  | (5,487) |  |  | (5,429) |
Other, net | 3,664 |  |  | 1,608 |  |  | 3,081 |
Total income tax expense | $ | 118,164 |  |  | $ | 190,803 |  |  | $ | 156,395 |
Effective income tax rate | 25.3 | % |  | 24.7 | % |  | 25.0 | %
Schedule of Components of Deferred Income Tax Assets | Deferred taxes consisted of the following at December 31, 2023 and 2022 (in thousands):
| Year Ended December 31,
| 2023 |  | 2022
Deferred tax assets: |  |  |
Impairment and other valuation reserves | $ | 16,733 |  |  | $ | 21,832 |
Incentive compensation | 11,512 |  |  | 9,923 |
Indirect costs capitalized | 19,857 |  |  | 13,204 |
Operating lease liability | 19,401 |  |  | 19,413 |
Net operating loss carryforwards (state) | — |  |  | 1,629 |
State taxes | 5,092 |  |  | 5,699 |
Other costs and expenses | 10,851 |  |  | 12,524 |
Gross deferred tax assets | 83,446 |  |  | 84,224 |
Valuation allowance | (3,372) |  |  | (3,413) |
Deferred tax assets, net of valuation allowance | 80,074 |  |  | 80,811 |
Deferred tax liabilities: |  |  |
Interest capitalized | (3,355) |  |  | (5,340) |
Basis difference in inventory | (5,302) |  |  | (5,523) |
Fixed assets | (12,896) |  |  | (14,281) |
Intangibles | (4,200) |  |  | (4,227) |
Operating lease asset | (15,847) |  |  | (15,883) |
Deferred financing costs | (394) |  |  | (507) |
Other | (84) |  |  | (199) |
Deferred tax liabilities | (42,078) |  |  | (45,960) |
Net deferred tax assets | $ | 37,996 |  |  | $ | 34,851 |

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- 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
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- 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
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- 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
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