XML 50 R35.htm IDEA: XBRL DOCUMENT v3.25.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

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)			2024						2023						2022
United States			$	195,866					$	92,679					$	550,030
Foreign			(6,528)						(9,675)						(24,575)
Total earnings before income taxes			$	189,338					$	83,004					$	525,455

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)			2024						2023						2022
Current:
Federal			$	45,922					$	15,454					$	114,744
State and local			6,887						1,752						22,998
Foreign			735						(464)						2,016
Total current provision			53,544						16,742						139,758
Deferred:
Federal			(2,249)						5,824						(3,786)
State and local			(425)						824						(285)
Foreign			(4,399)						(4,581)						(5,206)
Total deferred provision (benefit)			(7,073)						2,067						(9,277)
Provision for income taxes			$	46,471					$	18,809					$	130,481

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 2024, 2023, and 2022 to income before income taxes for the following reasons for the years ended December 31:

(In thousands)			2024						2023						2022
Income tax at federal statutory rate			$	39,761					$	17,431					$	110,345
State income tax, net of federal income tax impact			5,105						2,035						17,944
Section 162(m) permanent addback			3,735						1,896						3,784
Federal tax credits			(1,002)						(1,219)						(1,638)
Share-based payment compensation excess tax benefit			(346)						(242)						(509)
Other			(782)						(1,092)						555
Provision for income taxes			$	46,471					$	18,809					$	130,481

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)			2024						2023
Deferred tax assets:
Stock-based compensation			$	1,836					$	1,840
Pension			909						1,133
Deferred compensation			11,114						10,223
Warranty			13,540						13,936
Convertible debt bond hedge			7,323						12,289
Inventory			24,007						20,811
Research and experimental costs			9,018						6,845
Other			6,963						7,043
Lease obligation asset			57,528						62,460
Net operating loss, interest, and tax credit carryforwards			15,152						13,231
Total deferred tax assets before valuation allowance			147,390						149,811
Less valuation allowance			(7,657)						(7,300)
Total deferred tax assets net of valuation allowance			139,733						142,511
Deferred tax liabilities:
Lease obligation liability			(54,106)						(59,212)
Fixed assets			(40,432)						(45,995)
Intangible assets			(64,953)						(66,398)
Total deferred tax liabilities			(159,491)						(171,605)
Net deferred tax liabilities			$	(19,758)					$	(29,094)

Schedule of Unrecognized Tax Benefits

The following table reconciles the total amounts of unrecognized tax benefits, at December 31:

(In thousands)			2024						2023						2022
Balance at beginning of period			$	24,395					$	23,376					$	20,462
Changes in tax positions of prior years			—						218						—
Additions based on tax positions related to the current year			1,219						1,195						5,758
Decreases due to settlements of liabilities			—						—						(904)
Decreases due to closure of tax years			(699)						(394)						(1,940)
Balance at end of period			$	24,915					$	24,395					$	23,376

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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

+ 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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ 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://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

+ 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
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ 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
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 217
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-217

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration