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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

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