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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of (Loss) Income before Income Tax, Domestic and Foreign | The consolidated (loss) income before income taxes for 2024, 2023, and 2022 consists of the following (in thousands):
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Domestic | $ | (380,944) |  |  | $ | 291,816 |  |  | $ | 144,443 |
Foreign | 4,346 |  |  | 2,869 |  |  | 1,992 |
Total (loss) income before income taxes | $ | (376,598) |  |  | $ | 294,685 |  |  | $ | 146,435 |
Schedule of Components of Income Tax (Benefit) Expense | The consolidated income tax (benefit) expense for 2024, 2023, and 2022 consists of the following components (in thousands):
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Current |  |  |  |  |
Federal | $ | 13,449 |  |  | $ | 65,797 |  |  | $ | 34,490 |
State | 4,112 |  |  | 9,322 |  |  | 6,468 |
Foreign | 599 |  |  | 1,170 |  |  | 321 |
| 18,160 |  |  | 76,289 |  |  | 41,279 |
Deferred |  |  |  |  |
Federal | (90,460) |  |  | (14,889) |  |  | (5,911) |
State | (21,223) |  |  | 1,430 |  |  | (1,703) |
| (111,683) |  |  | (13,459) |  |  | (7,614) |
Total consolidated (benefit) expense | $ | (93,523) |  |  | $ | 62,830 |  |  | $ | 33,665 |
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,
| 2024 |  | 2023 |  | 2022
Pretax book (loss) income | $ | (376,598) |  |  | $ | 294,685 |  |  | $ | 146,435 |
Federal tax (benefit) expense at applicable statutory rate | (79,086) |  |  | 61,884 |  |  | 30,751 |
State and local income taxes (net of federal benefit) | (13,585) |  |  | 9,398 |  |  | 3,669 |
Tax credits | (228) |  |  | (9,572) |  |  | (2,422) |
Nondeductible officer compensation (benefit) | 724 |  |  | (546) |  |  | 977 |
Compensation (benefit) expense | (172) |  |  | (1,563) |  |  | 1,013 |
Other | (1,176) |  |  | 3,229 |  |  | (323) |
Total income tax (benefit) expense | $ | (93,523) |  |  | $ | 62,830 |  |  | $ | 33,665 |
Schedule of Deferred Tax Assets and Liabilities | The components of deferred tax assets and deferred tax liabilities as of December 31, 2024 and 2023 were as follows (in thousands):
| December 31,
| 2024 |  | 2023
Deferred tax assets |  |  |
Tax credits and loss carryforwards | $ | 1,792 |  |  | $ | 2,128 |
Accrued liabilities | 117,569 |  |  | 8,242 |
Incentive compensation | 9,360 |  |  | 8,131 |
Operating lease assets | 8,990 |  |  | 8,102 |
Research expenditure amortization | 21,523 |  |  | 22,160 |
Other | 2,918 |  |  | 2,730 |
| 162,152 |  |  | 51,493 |
Deferred tax liabilities |  |  |
Property, plant and equipment | (21,837) |  |  | (21,731) |
Intangibles | (34,493) |  |  | (32,773) |
Operating lease liabilities | (8,990) |  |  | (8,102) |
Other | (1,495) |  |  | (5,182) |
| (66,815) |  |  | (67,788) |
Net deferred tax asset (liability) before valuation allowances and reserves | 95,337 |  |  | (16,295) |
Valuation allowances | (464) |  |  | (718) |
Net deferred tax asset (liability) | $ | 94,873 |  |  | $ | (17,013) |

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