Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income Tax Provision

The income tax provision for the years ended December 31, 2021, 2022 and 2023 is summarized below (in thousands):

	2021		2022		2023
Current:
Federal	$	20,754	$	13,825	$	20,071
State	5,736		5,650		6,228
Foreign	2,761		12,063		10,962
Total current	29,251		31,538		37,261
Deferred:
Federal	(10,128)		(1,978)		(2,437)
State	(612)		(1,668)		(100)
Foreign	3,001		(4,993)		(3,789)
Total deferred	(7,739)		(8,639)		(6,326)
Total provision for income taxes	$	21,512	$	22,899	$	30,935

Schedule of Income Before Income Taxes

The U.S. and foreign components of income before income taxes for the years ended December 31, 2021, 2022 and 2023 are summarized below (in thousands):

	2021		2022		2023
United States	$	57,804	$	46,646	$	76,893
Foreign	18,795		22,923		23,833
Total income before income taxes	$	76,599	$	69,569	$	100,726

Schedule of Tax Effects of Principal Temporary Differences Affecting Net Deferred Tax Assets (Liabilities)

The tax effects of the principal temporary differences that give rise to the Company’s net deferred tax liability are as follows as of December 31, 2022 and 2023 (in thousands):

	2022		2023
Lease liabilities	$	21,674	$	19,521
Allowance for credit losses	12,862		13,056
Contract liabilities	9,527		9,669
Stock-based compensation	8,138		8,816
Other	4,363		4,715
Other facility-related costs	1,313		1,109
Loss carryforward	2,013		2,976
Intangible assets	(69,920)		(70,135)
Property and equipment	(9,968)		(4,890)
Right-of-use lease assets	(12,786)		(10,522)
Valuation allowance	(1,821)		(2,653)
Net deferred tax liability	$	(34,605)	$	(28,338)

Schedule of Changes in Unrecognized Tax Benefits

The following table summarizes changes in unrecognized tax benefits, excluding interest and penalties, for the respective periods (in thousands):

	Year Ended December 31,
	2022		2023
Beginning unrecognized tax benefits	$	1,043	$	948
Additions for tax positions taken in the prior year	—		—
Reductions for tax positions taken in prior years	(95)		—
Ending unrecognized tax benefits	$	948	$	948

Schedule of Reconciliation Between Statutory Tax Rate and Effective Tax Rate

A reconciliation between the Company’s statutory tax rate and the effective tax rate for the years ended December 31, 2021, 2022, and 2023 is as follows:

	2021		2022		2023
Statutory federal rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal benefits	3.4		3.2		3.7
Impact of foreign operations	2.2		3.0		2.1
Nondeductible compensation	1.9		2.4		1.9
Excess tax benefit on share-based compensation	—		1.7		1.1
Change in valuation allowance	0.8		1.7		0.8
Other	(1.2)		(0.1)		0.1
Effective tax rate	28.1	%	32.9	%	30.7	%