XML 59 R44.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Components of Income (Loss) Before Taxes from Continuing Operations | The components of income before taxes from continuing operations consisted of the following for the years ended December 31 (in thousands):
| 2023 |  | 2022 |  | 2021
Domestic | $ | 149,348 |  |  | $ | 112,635 |  |  | $ | 93,155 |
Foreign | (356) |  |  | (1,145) |  |  | 6,407 |
Income before taxes from continuing operations | $ | 148,992 |  |  | $ | 111,490 |  |  | $ | 99,562 |
Summary of Provision for Income Taxes for Continuing Operations | The provision for income taxes from continuing operations for the years ended December 31 consisted of the following (in thousands):
| 2023 |  | 2022 |  | 2021
Current: |  |  |  |  |
U.S. Federal | $ | 21,579 |  |  | $ | 17,014 |  |  | $ | 16,137 |
State | 6,048 |  |  | 5,647 |  |  | 5,009 |
Foreign | 32 |  |  | 86 |  |  | 932 |
Total current | 27,659 |  |  | 22,747 |  |  | 22,078 |
Deferred: |  |  |  |  |
U.S. Federal | 8,617 |  |  | 5,259 |  |  | 1,766 |
State | 2,112 |  |  | 1,381 |  |  | 134 |
Foreign | 71 |  |  | (303) |  |  | 1,068 |
Total deferred | 10,800 |  |  | 6,337 |  |  | 2,968 |
Provision for income taxes | $ | 38,459 |  |  | $ | 29,084 |  |  | $ | 25,046 |
Provision for Income Taxes from Continuing Operations Differs from the Federal Statutory Rate | The provision for income taxes from continuing operations differs from the federal statutory rate of 21% due to the following for the years ended December 31 (in thousands, except for percentages) :
| 2023 |  | 2022 |  | 2021
Statutory rate | $ | 31,288 |  |  | 21.0 | % |  | $ | 23,413 |  |  | 21.0 | % |  | $ | 20,908 |  |  | 21.0 | %
State taxes, less federal effect | 6,446 |  |  | 4.3 | % |  | 5,541 |  |  | 5.0 | % |  | 4,068 |  |  | 4.1 | %
Federal tax credits | (787) |  |  | (0.5) | % |  | (549) |  |  | (0.5) | % |  | (587) |  |  | (0.6) | %
Excess tax benefit on stock based compensation | (203) |  |  | (0.1) | % |  | (214) |  |  | (0.2) | % |  | (2,039) |  |  | (2.0) | %
Executive compensation | 1,369 |  |  | 0.9 | % |  | 960 |  |  | 0.9 | % |  | 1,781 |  |  | 1.8 | %
Other | 346 |  |  | 0.2 | % |  | (67) |  |  | (0.1) | % |  | 915 |  |  | 0.9 | %
| $ | 38,459 |  |  | 25.8 | % |  | $ | 29,084 |  |  | 26.1 | % |  | $ | 25,046 |  |  | 25.2 | %
Deferred Tax Liabilities (Assets) | Deferred tax liabilities at December 31 consisted of the following (in thousands):
| 2023 |  | 2022
Depreciation | $ | 13,838 |  |  | $ | 14,570 |
Goodwill | 65,967 |  |  | 62,132 |
Operating leases | 11,325 |  |  | 6,775 |
Intangible assets | 1,919 |  |  | 3,706 |
Other | 1,264 |  |  | 1,358 |
Gross deferred tax liabilities | 94,313 |  |  | 88,541 |
Capitalized research and development costs | (6,286) |  |  | (4,503) |
Equity compensation | (6,907) |  |  | (5,993) |
Operating leases | (11,678) |  |  | (7,076) |
Assets held for sale | — |  |  | (13,669) |
Capital loss carryforward | (26,527) |  |  | (26,490) |
Other | (12,422) |  |  | (10,417) |
Gross deferred tax assets | (63,820) |  |  | (68,148) |
Valuation allowances | 26,593 |  |  | 26,488 |
Deferred tax assets, net of valuation allowances | (37,227) |  |  | (41,660) |
Net deferred tax liabilities | $ | 57,086 |  |  | $ | 46,881 |
Summary of Valuation Allowance | The following sets forth a reconciliation of the beginning and ending amount of the Company’s valuation allowance (in thousands):
| 2023 |  | 2022 |  | 2021
Balance as of January 1 | $ | 26,488 |  |  | $ | 26,581 |  |  | $ | 111 |
Cost charged to the tax provision | 105 |  |  | 10 |  |  | 13 |
Reductions | — |  |  | (103) |  |  | (41) |
Reclassification from discontinued operations upon sale of industrial group | — |  |  | — |  |  | 26,498 |
Balance as of December 31 | $ | 26,593 |  |  | $ | 26,488 |  |  | $ | 26,581 |
Income Taxes Paid, Net of Tax Refunds | The Company made net payments for income taxes for the following amounts for the years ended December 31 (in thousands):
| 2023 |  | 2022 |  | 2021
Payments made for income taxes, net | $ | 23,447 |  |  | $ | 27,017 |  |  | $ | 22,076 |

X
- Definition Income taxes paid and net of tax refunds [Table Text Block]. + References No definition available. + Details
Name: | rock_IncomeTaxesPaidAndNetOfTaxRefundsTableTextBlock
Namespace Prefix: | rock_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -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://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -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://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -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 valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_SummaryOfValuationAllowanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration