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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | The consolidated income before income taxes for 2023, 2022, and 2021 consists of the following (in thousands):
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Domestic | $ | 291,816 |  |  | $ | 144,443 |  |  | $ | 5,426 |
Foreign | 2,869 |  |  | 1,992 |  |  | (4,136) |
Total income before income taxes | $ | 294,685 |  |  | $ | 146,435 |  |  | $ | 1,290 |
Schedule of Components of Income Tax Expense (Benefit) | The consolidated income tax expense for 2023, 2022, and 2021 consists of the following components (in thousands):
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Current |  |  |  |  |
Federal | $ | 65,797 |  |  | $ | 34,490 |  |  | $ | 8,449 |
State | 9,322 |  |  | 6,468 |  |  | (1,098) |
Foreign | 1,170 |  |  | 321 |  |  | 922 |
| 76,289 |  |  | 41,279 |  |  | 8,273 |
Deferred |  |  |  |  |
Federal | (14,889) |  |  | (5,911) |  |  | (9,423) |
State | 1,430 |  |  | (1,703) |  |  | 1,310 |
Foreign | — |  |  | — |  |  | (34) |
| (13,459) |  |  | (7,614) |  |  | (8,147) |
Total consolidated expense | $ | 62,830 |  |  | $ | 33,665 |  |  | $ | 126 |
Schedule of Effective Income Tax Rate Reconciliation | The following table provides a reconciliation of differences from the U.S. Federal statutory rates as follows (in thousands):
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Pretax book income | $ | 294,685 |  |  | $ | 146,435 |  |  | $ | 1,290 |
Federal tax expense at applicable statutory rate | 61,884 |  |  | 30,751 |  |  | 271 |
State and local income taxes | 9,398 |  |  | 3,669 |  |  | 212 |
Impairment and divestiture | — |  |  | — |  |  | 870 |
Tax credits | (9,572) |  |  | (2,422) |  |  | (2,065) |
Nondeductible officer (benefit) compensation | (546) |  |  | 977 |  |  | 390 |
Compensation (benefit) expense | (1,563) |  |  | 1,013 |  |  | 964 |
Other | 3,229 |  |  | (323) |  |  | (516) |
Total income tax expense | $ | 62,830 |  |  | $ | 33,665 |  |  | $ | 126 |
Schedule of Deferred Tax Assets and Liabilities | The components of deferred tax assets and deferred tax liabilities as of December 31, 2023 and 2022 were as follows (in thousands):
| December 31,
| 2023 |  | 2022
Deferred tax assets |  |  |
Tax credits and loss carryforwards | $ | 2,128 |  |  | $ | 2,929 |
Accrued liabilities | 8,242 |  |  | 5,965 |
Incentive compensation | 8,131 |  |  | 6,960 |
Operating lease assets | 8,102 |  |  | 5,878 |
Research expenditure amortization | 22,160 |  |  | 7,739 |
Other | 2,730 |  |  | 6,560 |
| 51,493 |  |  | 36,031 |
Deferred tax liabilities |  |  |
Property, plant and equipment | (21,731) |  |  | (22,991) |
Intangibles | (32,773) |  |  | (30,188) |
Operating lease liabilities | (8,102) |  |  | (5,878) |
Other | (5,182) |  |  | (3,957) |
| (67,788) |  |  | (63,014) |
Net deferred tax liability before valuation allowances and reserves | (16,295) |  |  | (26,983) |
Valuation allowances | (718) |  |  | (775) |
Net deferred tax liability | $ | (17,013) |  |  | $ | (27,758) |

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