XML 41 R29.htm IDEA: XBRL DOCUMENT
v3.22.4

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of Income Before Provision (Benefit) for Income Taxes | Income before provision (benefit) for income taxes consisted of the following:
(in thousands) |  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
U.S. |  | $ | 149,759 |  |  | $ | 121,660 |  |  | $ | 131,898 |
Foreign |  |  | 261 |  |  |  | 96 |  |  |  | 146 |
|  | $ | 150,020 |  |  | $ | 121,756 |  |  | $ | 132,044 |
Provision (Benefit) for Income Taxes | The provision (benefit) for income taxes consisted of the following:
(in thousands) |  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Current: |  |  |  |  |  |  |  |  |
U.S. Federal |  | $ | 19,480 |  |  | $ | (1,692 | ) |  | $ | 23,975 |
State |  |  | 8,708 |  |  |  | 5,360 |  |  |  | 6,545 |
Foreign |  |  | 2,208 |  |  |  | 2,035 |  |  |  | 1,733 |
|  |  | 30,396 |  |  |  | 5,703 |  |  |  | 32,253 |
Deferred: |  |  |  |  |  |  |  |  |
U.S. Federal |  |  | 4,563 |  |  |  | 23,433 |  |  |  | (755 | )
State |  |  | (68 | ) |  |  | 2,896 |  |  |  | (1,424 | )
Foreign |  |  | (9 | ) |  |  | 19 |  |  |  | (14 | )
|  |  | 4,486 |  |  |  | 26,348 |  |  |  | (2,193 | )
Total |  | $ | 34,882 |  |  | $ | 32,051 |  |  | $ | 30,060 |
Reconciliation of U.S. Federal Statutory Tax Rate to Company's Effective Tax Rate | The reconciliation of the U.S. federal statutory tax rate to the Company’s effective tax rate is as follows:
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
U.S. federal statutory rate |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | %
State taxes, net of federal benefit |  |  | 4.9 |  |  |  | 5.1 |  |  |  | 4.7 |
State deferred tax apportionment change, net of federal benefit |  |  | (1.1 | ) |  |  | 1.6 |  |  |  | (1.6 | )
Valuation allowance |  |  | 0.0 |  |  |  | 0.0 |  |  |  | 0.0 |
Share-based compensation |  |  | (1.7 | ) |  |  | (2.1 | ) |  |  | (1.4 | )
Enactment of the Tax Cuts and Jobs Act |  |  | (0.2 | ) |  |  | — |  |  |  | (0.3 | )
Other |  |  | 0.3 |  |  |  | 0.7 |  |  |  | 0.4 |
|  |  | 23.2 | % |  |  | 26.3 | % |  |  | 22.8 | %
Deferred Income Taxes Related to Temporary Differences between Tax Bases of Assets and Liabilities | The following table shows the deferred income taxes related to the temporary differences between the tax bases of assets and liabilities and the respective amounts included in “Deferred income taxes, net” on the Company’s Consolidated Balance Sheets:
(in thousands) |  | December 31, |
|  | 2022 |  |  | 2021 |
Deferred tax liabilities: |  |  |  |  |  |
Accelerated depreciation |  | $ | 249,568 |  |  | $ | 244,141 |
Prepaid costs currently deductible |  |  | 8,646 |  |  |  | 6,069 |
Other |  |  | 8,124 |  |  |  | 6,553 |
Total deferred tax liabilities |  |  | 266,338 |  |  |  | 256,763 |
Deferred tax assets: |  |  |  |  |  |
Accrued costs not yet deductible |  |  | 12,207 |  |  |  | 11,010 |
Allowance for doubtful accounts |  |  | 588 |  |  |  | 548 |
Deferred revenues |  |  | 4,069 |  |  |  | 219 |
Share-based compensation |  |  | 2,563 |  |  |  | 2,561 |
Total deferred tax assets, net of valuation allowance of $0.2 million in 2022 and 2021 |  |  | 19,427 |  |  |  | 14,338 |
Deferred income taxes, net |  | $ | 246,911 |  |  | $ | 242,425 |

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 -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration