Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Components of Income Tax Provision

Income Tax Provision consisted of the following expense/(benefit) components for the years ended December 31:


(in thousands)	2023		2022		2021
Current:
Federal	$	91,194	$	77,954	$	73,351
State	11,645		11,946		9,498
Foreign	(540)		580		2,970
Total Current	102,299		90,480		85,819
Deferred:
Federal	3,686		(1,589)		3,457
State	(185)		(360)		551
Foreign	751		(16,873)		14,155
Total Deferred	4,252		(18,822)		18,163
Total	$	106,551	$	71,658	$	103,982

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation between the statutory income tax rate and the effective tax rate consisted of the following for the years ended December 31:


	2023		2022		2021
Expected Federal Statutory Income Tax Rate	21.0	%	21.0	%	21.0	%
Increase/(Decrease):
State and Local Income Taxes, net of Federal Benefit	2.4		2.9		1.9
Foreign Income Taxes	2.0		(1.8)		3.6
Non-Deductible Executive Compensation	1.0		1.2		1.2

Other	(0.5)		0.1		(0.1)
Effective Tax Rate	25.9	%	23.4	%	27.6	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that gave rise to significant portions of deferred tax assets and liabilities consisted of the following at December 31:


(in thousands)	2023		2022
Deferred Tax Assets
Tax Net Operating Loss Carryforwards	$	72,886	$	69,634
Lease Liability	26,652		25,630

Compensation and Related	16,719		18,267


Other	2,647		5,619
Total Deferred Tax Assets	118,904		119,150
Valuation Allowance	(53,420)		(52,432)
Total Deferred Tax Asset, net of Valuation Allowance	$	65,484	$	66,718
Deferred Tax Liabilities
Intangible Assets	$	216,093	$	211,340
Right-of-Use Asset	24,589		23,201



Other	11,094		12,587
Total Gross Deferred Tax Liability	$	251,776	$	247,128
Net Deferred Tax Liability	$	186,292	$	180,410