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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income (loss) Before Income Taxes and Equity Income

The United States and foreign components of income before income taxes and equity in earnings in affiliates are as follows:

		2023				2022				2021
		(In thousands)
Income before income taxes and equity in earnings in affiliates
United States		$	125,495			$	205,360			$	161,856
Foreign			12,553				24,460				30,966
Income before income taxes and equity in earnings in affiliates		$	138,048			$	229,820			$	192,822

Schedule of Provision for Income Taxes

The provision for income taxes consists of the following components:

		2023				2022				2021
		(In thousands)
Federal income taxes:
Current		$	23,107			$	25,699			$	20,006
Deferred			1,256				17,328				71,202
			24,363				43,027				91,208
State income taxes:
Current			6,139				10,422				8,564
Deferred			766				3,960				18,587
			6,905				14,382				27,151
Foreign income taxes (benefit):
Current			4,677				39,904				7,780
Deferred			(546	)			(34,414	)			(3,409	)
			4,131				5,490				4,371
Total U.S. and foreign provision for income taxes		$	35,399			$	62,899			$	122,730

Reconciliation of the Statutory U.S. Federal Tax Rate (21%) and the Effective Income Tax Rate

A reconciliation of the statutory U.S. federal tax rate of 21% and the effective income tax rate is as follows:

		2023				2022				2021
		(In thousands)
Provisions using statutory federal income tax rate		$	28,990			$	48,262			$	40,492
State income taxes, net of federal tax benefit			8,221				12,738				7,921
Change in valuation allowance			(3,292	)			(242	)			389
Federal tax credits			(1,733	)			(1,742	)			(1,414	)
Effect of tax rate differential in foreign jurisdictions			1,137				1,932				3,802
Tax impact of vested equity compensation			981				2,100				3,621
Impact of REIT termination			—				—				70,813
Change in contingent tax liability			27				452				(4,339	)
Asset divestiture			(1,529	)			(5,596	)			—
Other, net			2,597				4,995				1,445
Total provision for income taxes		$	35,399			$	62,899			$	122,730

Schedule of Deferred Tax Assets and Liabilities

The following table presents the breakdown between non-current net deferred tax assets as classified on the balance sheets as of December 31, 2023 and 2022:

		2023				2022
		(In thousands)
Deferred tax assets - non-current		$	8,551			$	8,005
Deferred tax liabilities - non-current			(77,369	)			(75,849	)
Total net deferred tax assets		$	(68,818	)		$	(67,844	)

The significant components of the Company's deferred tax assets and liabilities consisted of the following as of December 31, 2023 and 2022:

		2023				2022
Deferred tax assets:		(In thousands)
Net operating losses		$	16,492			$	17,457
Accrued liabilities			20,408				34,333
Deferred compensation			16,812				14,437
Accrued compensation			9,485				6,928
Deferred revenue			1,446				1,654
Tax credits			3,376				4,423
Equity awards			3,537				3,322
Operating lease liability			26,627				23,556
Other, net			884				910
Valuation allowance			(19,105	)			(21,016	)
Total deferred tax assets		$	79,962			$	86,004
Deferred tax liabilities:
Depreciation		$	(81,949	)		$	(85,402	)
Intangible assets			(41,329	)			(46,228	)
Prepaid expenses and other			(16	)			(16	)
Lease right-of-use assets			(25,486	)			(22,202	)
Total deferred tax liabilities		$	(148,780	)		$	(153,848	)
Total net deferred tax assets (liabilities)		$	(68,818	)		$	(67,844	)

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

		2023				2022				2021
		(In thousands)
Balance at Beginning of Period		$	1,520			$	1,105			$	5,623
Additions based on tax positions related to the current year			—				581				133
Additions for tax positions of prior years			75				57				57
Reductions as a result of a lapse of applicable statutes of limitations			(57	)			(223	)			(4,708	)
Balance at End of Period		$	1,538			$	1,520			$	1,105

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