XML 53 R36.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign |
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Income before taxes |  |  |  |  |
U.S. | $ | 45,497 |  |  | $ | 69,055 |  |  | $ | 225,640 |
Non-U.S. | 78 |  |  | 168 |  |  | 151 |
| $ | 45,575 |  |  | $ | 69,223 |  |  | $ | 225,791 |
Schedule of Components of Income Tax Expense (Benefit) | Income tax expense (benefit) consists of:
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Current Provision (benefit): |  |  |  |  |
Federal | $ | 7,525 |  |  | $ | 20,707 |  |  | $ | 31,165 |
State | 2,865 |  |  | 3,159 |  |  | 6,463 |
Non-U.S. | 23 |  |  | 47 |  |  | 48 |
Total current provision (benefit) | $ | 10,413 |  |  | $ | 23,913 |  |  | $ | 37,676 |
Deferred Provision (benefit): |  |  |  |  |
Federal | $ | (8,192) |  |  | $ | (8,886) |  |  | $ | 13,874 |
State | (795) |  |  | (427) |  |  | 2,355 |
Non-U.S. | — |  |  | — |  |  | — |
Total deferred provision (benefit) | (8,987) |  |  | (9,313) |  |  | 16,229 |
Total income tax expense (benefit) | $ | 1,426 |  |  | $ | 14,600 |  |  | $ | 53,905 |
Schedule of Effective Income Tax Rate Reconciliation | The U.S. federal statutory income tax rate is reconciled to the effective income tax rate as follows:
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
U.S. federal statutory income tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
U.S. state income taxes | 3.4 | % |  | 2.9 | % |  | 3.1 | %
U.S. state income tax rate change | 0.2 | % |  | 0.2 | % |  | — | %
Excess tax benefits of equity compensation | — | % |  | (1.5) | % |  | — | %
Executive compensation limitations | 1.8 | % |  | 1.0 | % |  | 0.7 | %
Research and other tax credits | (2.7) | % |  | (1.3) | % |  | (0.3) | %
Energy credits | (21.4) | % |  | — | % |  | — | %
Prior year return to provision adjustments | 2.1 | % |  | (0.4) | % |  | — | %
Foreign derived intangible income deduction | (1.3) | % |  | (0.9) | % |  | (0.7) | %
Other, net | — | % |  | 0.1 | % |  | 0.1 | %
Effective income tax rate | 3.1 | % |  | 21.1 | % |  | 23.9 | %
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences which give rise to future income tax benefits and expenses are as follows:
| December 31,
| 2024 |  | 2023
Deferred tax assets: |  |  |
Net operating loss | $ | 92 |  |  | $ | 36 |
Accruals and reserves | 4,317 |  |  | 2,943 |
Capitalization of research expenses | 7,787 |  |  | 6,624 |
Inventory | 17,346 |  |  | 9,394 |
Pension obligation | — |  |  | 1,726 |
Operating lease liability | 36,931 |  |  | 23,031 |
Equity compensation | 2,899 |  |  | 3,025 |
Total gross deferred tax assets | 69,372 |  |  | 46,779 |
Less: Valuation Allowance | — |  |  | — |
Total deferred tax assets | $ | 69,372 |  |  | $ | 46,779 |
Deferred tax liabilities: |  |  |
Property, plant & equipment | $ | (163,991) |  |  | $ | (160,071) |
Intangibles | (10,857) |  |  | (11,156) |
Operating lease asset | (36,822) |  |  | (22,981) |
Pension obligation | (421) |  |  | — |
Other | (2,580) |  |  | (3,630) |
Total deferred tax liabilities | (214,671) |  |  | (197,838) |
Net deferred taxes | $ | (145,299) |  |  | $ | (151,059) |

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

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration