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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2024
INCOME TAXES |
Schedule of significant components of the provision for income taxes | Significant components of the provision for income taxes for the years ended December 31 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |  | 2022 |
​ | ​ | (in thousands) |
Current provision on continuing operations: |  | ​ |  |  | ​ |  |  | ​ |  | ​
Federal | ​ | $ | 18,195 | ​ | $ | 38,860 | ​ | $ | 79,477 | ​
State | ​ |  | 3,793 | ​ |  | 10,949 | ​ |  | 19,713 | ​
Foreign | ​ |  | 928 | ​ |  | 508 | ​ |  | 869 | ​
​ | ​ |  | 22,916 | ​ |  | 50,317 | ​ |  | 100,059 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred provision (benefit) on continuing operations: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ |  | 17,532 | ​ |  | (4,882) | ​ |  | (5,591) | ​
State | ​ |  | 5,058 | ​ |  | (682) | ​ |  | (793) | ​
Foreign | ​ |  | (153) | ​ |  | (2) | ​ |  | (20) | ​
​ | ​ |  | 22,437 | ​ |  | (5,566) | ​ |  | (6,404) | ​
Total provision for income taxes on continuing operations | ​ | $ | 45,353 | ​ | $ | 44,751 | ​ | $ | 93,655 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current provision on discontinued operations: |  | ​ |  |  | ​ |  |  | ​ |  | ​
Federal | ​ | $ | 169 | ​ | $ | 14,656 | ​ | $ | 901 | ​
State | ​ |  | 36 | ​ |  | 3,599 | ​ |  | 236 | ​
​ | ​ |  | 205 | ​ |  | 18,255 | ​ |  | 1,137 | ​
Deferred provision on discontinued operations: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ |  | — | ​ |  | — | ​ |  | 114 | ​
State | ​ |  | — | ​ |  | — | ​ |  | 40 | ​
​ | ​ |  | — | ​ |  | — | ​ |  | 154 | ​
Total provision for income taxes on discontinued operations | ​ | $ | 205 | ​ | $ | 18,255 | ​ | $ | 1,291 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total provision for income taxes | ​ | $ | 45,558 | ​ | $ | 63,006 | ​ | $ | 94,946 | ​
Schedule of significant components of deferred tax assets and liabilities of continuing operations | ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2024 | ​ | 2023 |
​ | ​ | (in thousands) |
Deferred tax assets: |  | ​ |  |  | ​ |  | ​
Accrued expenses | ​ | $ | 66,211 | ​ | $ | 60,842 | ​
Operating lease right-of-use liabilities | ​ | ​ | 56,119 | ​ | ​ | 53,589 | ​
Multiemployer pension fund withdrawal | ​ | ​ | 4,688 | ​ | ​ | 4,871 | ​
Postretirement liabilities other than pensions | ​ |  | 3,428 | ​ |  | 3,389 | ​
Share-based compensation | ​ |  | 2,239 | ​ |  | 5,249 | ​
Federal and state net operating loss carryovers | ​ |  | 4,383 | ​ |  | 1,511 | ​
Receivable allowances | ​ | ​ | 2,666 | ​ | ​ | 1,951 | ​
Other(1) | ​ |  | 2,580 | ​ |  | 794 | ​
Total deferred tax assets | ​ |  | 142,314 | ​ |  | 132,196 | ​
Valuation allowance | ​ |  | (1,731) | ​ |  | (1,751) | ​
Total deferred tax assets, net of valuation allowance | ​ |  | 140,583 | ​ |  | 130,445 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization, depreciation, and basis differences for property, plant and equipment, and other long-lived assets | ​ |  | 121,400 | ​ |  | 118,211 | ​
Operating lease right-of-use assets | ​ | ​ | 48,271 | ​ | ​ | 43,938 | ​
Intangibles | ​ |  | 33,680 | ​ |  | 10,256 | ​
Prepaid expenses | ​ |  | 6,345 | ​ |  | 5,685 | ​
Total deferred tax liabilities | ​ |  | 209,696 | ​ |  | 178,090 | ​
Net deferred tax liabilities | ​ | $ | (69,113) | ​ | $ | (47,645) | ​
1) | For 2023, certain reclassifications have been made to conform to the current year presentation, including combining immaterial amounts in “Other.”
Reconciliation between the effective income tax rate, as computed on income from continuing operations before income taxes, and the statutory federal income tax rate | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2024 | ​ | 2023 | ​ | 2022 |
​ | ​ | (in thousands, except percentages) |
Income tax provision at the statutory federal rate of 21.0% |  | $ | 45,930 |  | $ | 39,252 |  | $ | 81,544 | ​
Federal income tax effects of: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
State income taxes | ​ |  | (1,859) | ​ |  | (2,156) | ​ |  | (3,973) | ​
Settlement of share-based compensation(1) | ​ | ​ | (9,169) | ​ | ​ | (3,989) | ​ | ​ | (6,693) | ​
Non-deductible compensation under IRC Section 162(m)(2) | ​ | ​ | 3,668 | ​ | ​ | 3,103 | ​ | ​ | 5,174 | ​
Other(2) | ​ |  | (2,843) | ​ |  | (2,232) | ​ |  | (2,166) | ​
Federal income tax provision | ​ |  | 35,727 | ​ |  | 33,978 | ​ |  | 73,886 | ​
State income tax provision | ​ |  | 8,851 | ​ |  | 10,267 | ​ |  | 18,920 | ​
Foreign income tax provision | ​ |  | 775 | ​ |  | 506 | ​ |  | 849 | ​
Total provision for income taxes | ​ | $ | 45,353 | ​ | $ | 44,751 | ​ | $ | 93,655 | ​
Effective tax rate | ​ |  | 20.7 | % |  | 23.9 | % |  | 24.1 | %
(1) | Increase in tax benefit from vested RSUs for 2024, compared to 2023 and 2022, is primarily due to the vesting of RSUs granted in 2020 and 2021 at the end of a four-year and three-year period, respectively. RSUs granted subsequent to 2021 follow a graded vesting schedule, with RSUs vesting incrementally over a specified period of time, rather than fully vesting at the end of the vesting period.
(2) | For 2023 and 2022, certain reclassifications have been made to conform to the current year presentation, including combining immaterial amounts in “Other” and breaking out non-deductible compensation under IRC Section 162(m), which was previously reported in “Non-deductible expenses.”

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