Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Income before Income Tax, Domestic and Foreign

The components of the Company’s income before income taxes and equity in earnings of non-consolidated affiliates by taxing jurisdiction for the years ended December 31, were:


	2024		2023		2022
Income (Loss):
U.S.	$	36,368	$	66,432	$	31,681
Non-U.S.	1,355		24,637		43,904
	$	37,723	$	91,069	$	75,585

Schedule Of Components Of Income Taxes Provision Benefit

The provision (benefit) for income taxes by taxing jurisdiction for the years ended December 31, were:


	2024		2023		2022
Current tax provision
U.S. federal	$	7,139	$	4,868	$	13,229
U.S. state and local	4,359		3,103		8,106
Non-U.S.	12,370		13,143		22,368
	23,868		21,114		43,703
Deferred tax provision (benefit):
U.S. federal	607		18,168		(16,132)
U.S. state and local	248		7,017		701
Non-U.S.	(11,541)		(5,742)		(2,810)
	(10,686)		19,443		(18,241)
Income tax expense	$	13,182	$	40,557	$	25,462

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of income tax expense (benefit) using the U.S. federal income tax rate compared with actual income tax expense for the years ended December 31, is as follows:


	2024		2023		2022
Income before income taxes, equity in non-consolidated affiliates and noncontrolling interest	$37,723		$91,069		$75,585
Statutory income tax rate	21.0	%	21.0	%	21.0	%
Tax expense using U.S. statutory income tax rate	$7,922		$19,124		$15,873
Impact of disregarded entity structure	(3,384)		(8,520)		(3,355)
Foreign, net	1,208		(3,684)		6,930
State taxes, net	3,701		8,422		8,807
Stock compensation	2,244		400		(1,342)
Valuation allowance	5,198		11,791		4,932
Deferred acquisition consideration adjustments	(2,079)		1,299		(72)
Revaluation of TRA step up	—		(424)		(5,109)
Gain on sale of business	—		8,347		—
Prior year adjustments	(3,464)		5,617		(17,205)
Goodwill impairments	—		—		14,645
Other, net	1,836		(1,815)		1,358
Income tax expense	$13,182		$40,557		$25,462
Effective income tax rate	34.9	%	44.5	%	33.7	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of significant temporary differences representing deferred tax assets and liabilities as of December 31, were as follows:


	2024		2023		2022
Deferred tax assets:
Net operating losses	$	38,482	$	29,835	$	44,001
Tax credits	6,719		6,355		7,104
Operating lease liability	44,356		50,657		52,442
Interest deductions	37,384		36,618		30,681
Accruals and other liabilities	1,010		252		2,794
TRA and related step-up, net of amortization	27,335		29,007		30,556
Other	8,128		13,568		10,584
Gross deferred tax asset	163,414		166,292		178,162
Less: valuation allowance	(30,583)		(26,288)		(14,395)
Net deferred tax assets	$	132,831	$	140,004	$	163,767
Deferred tax liabilities:
Right-of-use lease asset - operating leases	33,163		38,261		40,012
Property and equipment, net	5,065		11,553		9,329
Goodwill and intangibles	94,126		83,335		85,990
Residual basis differences	—		—		—
Other	790		205		940
Total deferred tax liabilities	133,144		133,354		136,271
Net deferred tax asset (liability)	$	(313)	$	6,650	$	27,496

Deferred tax assets	$	46,926	$	47,159	$	68,375
Deferred tax liabilities	(47,239)		(40,509)		(40,879)
	$	(313)	$	6,650	$	27,496

Schedule Of Changes In Tax Reserve


	2024		2023
A reconciliation of the change in unrecognized tax benefits is as follows:
Unrecognized tax benefit - Beginning Balance	$	9	$	2,136
Current year positions	—		288
Prior period positions	—		(1,840)
Settlements	—		(289)
Lapse of statute of limitations	—		(286)
Unrecognized tax benefits - Ending Balance	$	9	$	9