XML 51 R33.htm IDEA: XBRL DOCUMENT v3.25.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Summary of Provision for Income Taxes

The provision for income taxes is as follows (in thousands):

		Year Ended December 31,
		2024				2023				2022
Current:
Federal		$	15,070			$	11,896			$	14,683
State			3,613				1,854				5,529
Total current provision for income taxes			18,683				13,750				20,212
Deferred:
Federal			(535	)			2,784				(1,096	)
State			(319	)			1,842				(1,081	)
Total deferred provision for income taxes			(854	)			4,626				(2,177	)
Total provision for income taxes		$	17,829			$	18,376			$	18,035

Summary of Deferred Income Tax Assets and Liabilities

Deferred income tax assets and liabilities consist of the following components (in thousands):

		December 31,
		2024				2023
Deferred income tax assets:
Deferred compensation		$	7,392			$	6,149
Tax effect of unrealized losses, net			7,374				7,969
Operating lease liability			5,850				5,813
Workers' compensation claims liabilities			5,423				6,709
Other			1,164				579
Equity based compensation			857				907
Total deferred income tax assets			28,060				28,126
Less: valuation allowance			340				65
Net deferred income tax assets			27,720				28,061
Deferred income tax liabilities:
Tax depreciation in excess of book depreciation			(10,230	)			(9,180	)
Amortization of software and intangibles			(7,467	)			(8,441	)
Operating lease right-of-use			(5,545	)			(5,452	)
Other			(1	)			(770	)
Total deferred income tax liabilities			(23,243	)			(23,843	)
Net deferred income taxes		$	4,477			$	4,218

Summary of Effective Tax Rate Differed from U.S. Statutory Federal Tax Rate

The effective tax rate differed from the U.S. statutory federal tax rate due to the following:

		Year Ended December 31,
		2024					2023					2022
Statutory federal tax rate			21.0		%			21.0		%			21.0		%
State taxes, net of federal benefit			3.6					4.3					5.4
Nondeductible expenses and other, net			1.0					1.7					1.5
Adjustment for final positions on filed returns			0.5					(0.5	)				0.2
Other, net			(0.1	)				0.2					—
Federal and state tax credits			(0.8	)				(0.1	)				(0.5	)
Effective tax rate			25.2		%			26.6		%			27.6		%

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