XML 52 R29.htm IDEA: XBRL DOCUMENT
v3.22.4

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Income before Income Tax, Domestic and Foreign [Table Text Block] | Income before income taxes includes the following components:
|  | Year Ended December 31
|  | 2022 |  | 2021 |  | 2020
|  | (thousands)
Domestic |  | $ | 1,144,790 |  |  | $ | 945,562 |  |  | $ | 284,147 |
Foreign |  | 1,591 |  |  | 3,289 |  |  | 2,164 |
Income before income taxes |  | $ | 1,146,381 |  |  | $ | 948,851 |  |  | $ | 286,311 |
Income Tax Provision [Table Text Block] | The income tax provision shown in the Consolidated Statements of Operations includes the following:
|  | Year Ended December 31
|  | 2022 |  | 2021 |  | 2020
|  | (thousands)
Current income tax provision |  |  |  |  |  |
Federal |  | $ | 177,023 |  |  | $ | 201,725 |  |  | $ | 66,401 |
State |  | 52,046 |  |  | 48,332 |  |  | 17,434 |
Foreign |  | (12) |  |  | 12 |  |  | — |
Total current |  | 229,057 |  |  | 250,069 |  |  | 83,835 |
Deferred income tax provision (benefit) |  |  |  |  |  |
Federal |  | 54,852 |  |  | (12,149) |  |  | 22,321 |
State |  | 3,921 |  |  | (2,484) |  |  | 4,529 |
Foreign |  | 893 |  |  | 929 |  |  | 647 |
Total deferred |  | 59,666 |  |  | (13,704) |  |  | 27,497 |
Income tax provision |  | $ | 288,723 |  |  | $ | 236,365 |  |  | $ | 111,332 |
Income Tax Rate Reconciliation [Table Text Block] | The effective tax rate varies from the U.S. Federal statutory income tax rate principally due to the following:
|  | Year Ended December 31
|  | 2022 |  | 2021 |  | 2020
|  | (thousands, except percentages)
Income before income taxes |  | $ | 1,146,381 |  |  | $ | 948,851 |  |  | $ | 286,311 |
Statutory U.S. income tax rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Statutory tax provision |  | $ | 240,740 |  |  | $ | 199,259 |  |  | $ | 60,125 |
State taxes |  | 45,037 |  |  | 35,705 |  |  | 12,267 |
Stranded tax effects of Plan Termination (a) |  | — |  |  | — |  |  | 38,794 |
Unrecognized tax benefits |  | 6 |  |  | 2 |  |  | 87 |
Tax credits |  | (570) |  |  | (620) |  |  | (712) |
Foreign rate differential |  | 370 |  |  | 236 |  |  | 65 |
Stock-based compensation |  | (1,529) |  |  | (563) |  |  | (411) |
Nondeductible executive compensation |  | 2,433 |  |  | 1,664 |  |  | 808 |
Meals and entertainment |  | 911 |  |  | 336 |  |  | 340 |
Other |  | 1,325 |  |  | 346 |  |  | (31) |
Total |  | $ | 288,723 |  |  | $ | 236,365 |  |  | $ | 111,332 |
Effective income tax rate |  | 25.2 | % |  | 24.9 | % |  | 38.9 | %
______________________________________ (a) In December 2020, we eliminated our qualified defined benefit pension plan (Plan Termination), as discussed in Note 11, Retirement and Benefit Plans. Prior to the Plan Termination, "Accumulated other comprehensive loss" on our Consolidated Balance Sheet included the stranded tax effects of our conversion from a limited liability company to a corporation in 2013 and the adoption of the Tax Cuts and Jobs Act in 2017. Upon Plan Termination, these stranded tax effects of $38.8 million were required to be released into income tax expense under GAAP.
Net Deferred Tax Assets and Liabilities [Table Text Block] | The components of our net deferred tax assets and liabilities at December 31, 2022 and 2021, are summarized as follows:
|  | December 31, 2022 |  | December 31, 2021
|  | (thousands)
Deferred tax assets |  |  |  |
Employee benefits |  | $ | 31,688 |  |  | $ | 28,534 |
Lease liabilities |  | 22,739 |  |  | 24,956 |
Inventories |  | 8,999 |  |  | 4,100 |
Foreign net operating loss carryforward |  | 503 |  |  | 1,685 |
Other |  | 10,320 |  |  | 7,170 |
Deferred tax assets |  | $ | 74,249 |  |  | $ | 66,445 |
Deferred tax liabilities |  |  |  |
Property and equipment |  | $ | (100,781) |  |  | $ | (32,040) |
Right-of-use assets |  | (20,511) |  |  | (22,950) |
Intangible assets and other |  | (7,491) |  |  | (6,850) |
Other |  | (2,804) |  |  | (1,657) |
Deferred tax liabilities |  | $ | (131,587) |  |  | $ | (63,497) |
Total deferred tax assets (liabilities), net |  | $ | (57,338) |  |  | $ | 2,948 |
Unrecognized Tax Benefits Roll Forward [Table Text Block] | The following table summarizes the changes related to our gross unrecognized tax benefits excluding interest and penalties:
|  | 2022 |  | 2021 |  | 2020
|  | (thousands)
Balance as of January 1 |  | $ | 1,782 |  |  | $ | 1,780 |  |  | $ | 1,685 |
Increases related to prior years' tax positions |  | — |  |  | — |  |  | 97 |
Increases related to current years' tax positions |  | 13 |  |  | 28 |  |  | 89 |
Decreases related to prior years' tax positions |  | (14) |  |  | (19) |  |  | — |
Lapse of statute of limitations |  | (47) |  |  | (7) |  |  | (91) |
Balance as of December 31 |  | $ | 1,734 |  |  | $ | 1,782 |  |  | $ | 1,780 |

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

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI https://asc.fasb.org/extlink&oid=126976462&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI https://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration