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INCOME TAXES (Tables)

12 Months Ended

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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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.

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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 income before income tax between domestic and foreign jurisdictions.

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