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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | The components of earnings before income taxes consisted of the following for the years ended December 31:
(In thousands) | 2021 |  | 2020 |  | 2019
United States | $ | 378,460 |  |  | $ | 216,234 |  |  | $ | 189,834 |
Foreign | 3,584 |  |  | (6,753) |  |  | 1,580 |
Total earnings before income taxes | $ | 382,044 |  |  | $ | 209,481 |  |  | $ | 191,414 |
Schedule of Provisions of Income Taxes | The provision for income taxes in the Consolidated Statements of Income was as follows for the years ended December 31:
(In thousands) | 2021 |  | 2020 |  | 2019
Current: |  |  |  |  |
Federal | $ | 78,604 |  |  | $ | 42,541 |  |  | $ | 33,655 |
State and local | 17,044 |  |  | 9,165 |  |  | 6,764 |
Foreign | 1,936 |  |  | 839 |  |  | 1,070 |
Total current provision | 97,584 |  |  | 52,545 |  |  | 41,489 |
Deferred: |  |  |  |  |
Federal | 2,192 |  |  | 2,342 |  |  | 5,923 |
State and local | (517) |  |  | (671) |  |  | (969) |
Foreign | (4,954) |  |  | (3,175) |  |  | (1,538) |
Total deferred provision | (3,279) |  |  | (1,504) |  |  | 3,416 |
Provision for income taxes | $ | 94,305 |  |  | $ | 51,041 |  |  | $ | 44,905 |
Schedule of Income Tax Reconciliation | The provision for income taxes differs from the amount computed by applying the federal statutory rate of 21 percent for 2021, 2020, and 2019 to income before income taxes for the following reasons for the years ended December 31:
(In thousands) | 2021 |  | 2020 |  | 2019
Income tax at federal statutory rate | $ | 80,229 |  |  | $ | 43,991 |  |  | $ | 40,197 |
State income tax, net of federal income tax impact | 13,056 |  |  | 6,710 |  |  | 4,578 |
Section 162(m) permanent addback | 6,153 |  |  | 3,015 |  |  | 587 |
Federal tax credits | (1,230) |  |  | (1,307) |  |  | (1,435) |
Share-based payment compensation excess tax benefit | (1,191) |  |  | (190) |  |  | (1,579) |
Other | (2,712) |  |  | (1,178) |  |  | 2,557 |
Provision for income taxes | $ | 94,305 |  |  | $ | 51,041 |  |  | $ | 44,905 |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities were as follows at December 31:
(In thousands) | 2021 |  | 2020 |  |
Deferred tax assets: |  |  |  |  |
Stock-based compensation | $ | 2,632 |  |  | $ | 2,084 |  |  |
Pension | 8,594 |  |  | 8,694 |  |  |
Deferred compensation | 15,923 |  |  | 13,325 |  |  |
Warranty | 10,790 |  |  | 10,848 |  |  |
Convertible debt bond hedge | 21,699 |  |  | — |  |  |
Inventory | 16,502 |  |  | 7,443 |  |  |
Other | 5,792 |  |  | 6,390 |  |  |
Lease obligation asset | 41,066 |  |  | 22,488 |  |  |
Net operating loss and interest carryforwards | 10,132 |  |  | 4,857 |  |  |
Total deferred tax assets before valuation allowance | 133,130 |  |  | 76,129 |  |  |
Less: Valuation allowance | (1,054) |  |  | (2,809) |  |  |
Total deferred tax assets net of valuation allowance | 132,076 |  |  | 73,320 |  |  |
Deferred tax liabilities: |  |  |  |  |
Lease obligation liability | (38,770) |  |  | (21,523) |  |  |
Fixed assets | (45,562) |  |  | (35,637) |  |  |
Intangible assets | (87,035) |  |  | (69,992) |  |  |
Total deferred tax liabilities | (171,367) |  |  | (127,152) |  |  |
Net deferred tax liabilities | $ | (39,291) |  |  | $ | (53,832) |  |  |
Schedule of Unrecognized Tax Benefits | The following table reconciles the total amounts of unrecognized tax benefits, at December 31:
(In thousands) | 2021 |  | 2020 |  | 2019
Balance at beginning of period | $ | 8,921 |  |  | $ | 8,214 |  |  | $ | 4,325 |
Changes in tax positions of prior years | (69) |  |  | — |  |  | 480 |
Additions based on tax positions related to the current year | 12,826 |  |  | 1,720 |  |  | 4,288 |
Closure of tax years | (1,216) |  |  | (1,013) |  |  | (879) |
Balance at end of period | $ | 20,462 |  |  | $ | 8,921 |  |  | $ | 8,214 |

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