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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax (Provision) Benefit

The (provision) benefit for income taxes for the years ended December 31, 2024, 2023 and 2022 was as follows (in thousands):

			2024						2023						2022
Current income tax expense:
Federal			$	(48)					$	(12)					$	(14)
State			(3,051)						(9)						(7)
Total current income tax expense			(3,099)						(21)						(21)
Deferred income tax (expense) benefit:
Federal			$	(18,667)					$	(8,982)					$	2,574
State			(5,696)						(4,139)						1,188
Total deferred income tax (expense) benefit			(24,363)						(13,121)						3,762
Decrease (increase) in valuation allowance			—						17,625						(2,204)
Expiration of unused loss carryforwards			—						(65)						(66)
(Provision) benefit for income taxes			$	(27,462)					$	4,418					$	1,471

Schedule of Deferred Tax Assets and Liabilities

The tax effects of significant temporary differences are as follows (in thousands):

			2024						2023
Deferred tax assets
Net operating loss carryforward			$	160,386					$	164,592
Tax receivable agreement			48,530						48,470
Other			1,667						1,378
Valuation allowance			—						—
Total deferred tax assets			210,583						214,440
Deferred tax liabilities-investments in subsidiaries			(244,153)						(221,507)
Deferred tax liability, net			$	(33,570)					$	(7,067)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the statutory rate and the effective tax rate for 2024, 2023 and 2022 is as follows:

			2024						2023						2022
Statutory rate			21.00		%				21.00		%				21.00		%
State income taxes-net of federal income tax benefit			6.98						6.98						6.98
Pass-through to noncontrolling interests			(14.92)						(14.93)						(14.95)
Executive compensation limitation and other permanent items			0.41						(1.08)						(3.35)
Deferred tax asset valuation allowance			—						(16.07)						(5.45)
Expiration of unused loss carryforwards			—						0.06						(0.17)
Effective rate			13.47		%				(4.04)		%				4.06		%

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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

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
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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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-Topic 740
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-Section 50
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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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