Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Taxes

Schedule of provision for income taxes

	2018		2017	2016
	(in thousands)
Current taxes:
Federal	$	54,071	73,167	72,711
State		625	7,720	7,174
Foreign		1	—	17
		54,697	80,887	79,902
Deferred taxes		783	20,481	1,982
Provision for income taxes	$	55,480	101,368	81,884

Schedule of reconciliation of statutory federal income tax rate with effective income tax rate

	2018		2017		2016
Statutory federal income tax rate	21.0	%	35.0	%	35.0	%
State income taxes, net of federal tax benefit	2.4		2.2		2.0
Share-based compensation	1.8		3.4		—
Effects of U.S. tax rate decrease	(0.4)		2.2		—
Uncertain tax positions	(2.2)		(0.2)		(0.1)
Valuation allowance on losses capital in nature	—		(1.0)		(3.2)
Other items	0.7		(0.3)		0.4
Effective income tax rate	23.3	%	41.3	%	34.1	%

Schedule of deferred tax liabilities and deferred tax assets

	2018		2017
	(in thousands)
Deferred tax assets:
Benefit plans	$	—	3,381
Accrued compensation and related costs		5,868	5,558
Other accrued expenses		3,861	4,094
Unrealized losses on investment securities and partnerships		6,272	—
Share-based compensation		10,300	15,047
Unused state tax credits		2,618	2,788
State net operating loss carryforwards		7,266	7,235
Other		1,171	2,874
Total gross deferred assets		37,356	40,977
Deferred tax liabilities:
Property and equipment	$	(3,700)	(7,301)
Benefit plans		(1,872)	—
Identifiable intangible assets		(9,206)	(7,419)
Unrealized gains on investments securities and partnerships		—	(3,554)
Prepaid expenses		(2,478)	(1,679)
Other		(513)	(481)
Total gross deferred liabilities		(17,769)	(20,434)
Valuation allowance		(7,266)	(7,235)
Net deferred tax asset	$	12,321	13,308

Summary of the Company's reconciliation of unrecognized tax benefits, excluding penalties and interest

The following table summarizes the Company's reconciliation of unrecognized tax benefits, excluding penalties and interest, for the years ended December 31, 2018, 2017 and 2016:

	2018		2017	2016
	(in thousands)
Balance at beginning of year	$	6,843	7,734	8,448
Increases during the year:
Gross increases - tax positions in prior period		712	244	465
Gross increases - current-period tax positions		331	97	494
Decreases during the year:
Gross decreases - tax positions in prior period		(4,219)	(56)	(167)
Decreases due to settlements with taxing authorities		(1,385)	(178)	(21)
Decreases due to lapse of statute of limitations		(212)	(998)	(1,485)
Balance at end of year	$	2,070	6,843	7,734