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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Summary of Income Tax Expense

The following is a summary of the Company’s income tax expense from continuing operations:

			Year Ended December 31,
(In Thousands)			2021						2020						2019
Current Income Tax Expense (Benefit):
Federal			$	50,240					$	(15,895)					$	4,453
State			18,678						16,219						11,206
			68,918						324						15,659
Deferred Income Tax Expense:
Federal			16,852						37,132						38,353
State			(1,123)						493						(1,784)
			15,729						37,625						36,569
Income Tax Expense			$	84,647					$	37,949					$	52,228

Components of Deferred Income Tax Liabilities and Assets

Significant components of the Company’s deferred income tax liabilities and assets are as follows:

			December 31,
(In Thousands)			2021						2020
Deferred Tax Liabilities:
Lease Merchandise and Property, Plant and Equipment			$	244					$	179
Goodwill and Other Intangibles			1,046						—
Investment in Partnership			170,568						150,988
Operating Lease Right-of-Use Assets			421						447
Total Deferred Tax Liabilities			172,279						151,614
Deferred Tax Assets:
Accrued Liabilities			10,415						10,699
Operating Lease Liabilities			440						472
Other, Net			20,476						17,539
Total Deferred Tax Assets			31,331						28,710
Less: Valuation Allowance			(2,557)						(4,034)
Net Deferred Tax Liabilities			$	143,505					$	126,938

Effective Tax Rate Differs from Statutory United States Federal Income Tax Rate

The Company’s effective tax rate from continuing operations differs from the statutory United States Federal income tax rate as follows:

			Year Ended December 31,
			2021						2020						2019
Statutory Rate			21.0		%				21.0		%				21.0		%
Increases (Decreases) in United States Federal Taxes
Resulting From:
State Income Taxes, Net of Federal Income Tax Benefit			3.8						4.6						26.9
Permanent Difference for Loss on Progressive FTC matter			—						—						133.1
NOL Carryback under CARES Act			—						(13.1)						—
Other Permanent Differences			—						(1.0)						(7.4)
Deferred Tax Adjustments			—						1.1						5.8
Current Uncertain Tax Position Expense			0.7						(0.3)						7.2
Other, Net			0.3						1.7						2.5
Effective Tax Rate			25.8		%				14.0		%				189.1		%

Summary of Activity Related to Uncertain Tax Positions

The following table summarizes the activity related to the Company’s uncertain tax positions:

			Year Ended December 31,
(In Thousands)			2021						2020						2019
Balance at January 1,			$	2,748					$	3,699					$	1,896
Additions Based on Tax Positions Related to the Current Year			44,816						26						103
Additions for Tax Positions of Prior Years			21						220						1,957
Prior Year Reductions			(1)						(108)						(32)
Statute Expirations			(692)						(1,053)						(225)
Settlements			(142)						(36)						—
Balance at December 31,			$	46,750					$	2,748					$	3,699

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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

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-Name Accounting Standards Codification
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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.

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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.

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Tabular disclosure of the change in unrecognized tax benefits, excluding amounts pertaining to examined tax returns.

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