Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

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)	2024		2023		2022
Current:
Federal	$	112,218	$	91,194	$	77,954
State	15,419		11,645		11,946
Foreign	477		(540)		580
Total Current	128,114		102,299		90,480
Deferred:
Federal	(4,760)		3,686		(1,589)
State	(446)		(185)		(360)
Foreign	(9,729)		751		(16,873)
Total Deferred	(14,935)		4,252		(18,822)
Total	$	113,179	$	106,551	$	71,658

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:


	2024		2023		2022
Expected Federal Statutory Income Tax Rate	21.0	%	21.0	%	21.0	%
Increase/(Decrease):
State and Local Income Taxes, net of Federal Benefit	3.2		2.4		2.9
Foreign Income Taxes	4.3		2.0		(1.8)
Non-Deductible Executive Compensation	1.1		1.0		1.2

Other	0.1		(0.5)		0.1
Effective Tax Rate	29.7	%	25.9	%	23.4	%

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)	2024		2023
Deferred Tax Assets
Tax Net Operating Loss Carryforwards	$	110,704	$	95,748
Lease Liability	27,480		26,652

Compensation and Related	15,272		16,719


Other	10,826		2,647
Total Deferred Tax Assets	164,282		141,766
Valuation Allowance	(100,214)		(76,282)
Total Deferred Tax Asset, net of Valuation Allowance	$	64,068	$	65,484
Deferred Tax Liabilities
Intangible Assets	$	204,885	$	216,093
Right-of-Use Asset	25,651		24,589



Other	4,489		11,094
Total Gross Deferred Tax Liability	$	235,025	$	251,776
Net Deferred Tax Liability	$	170,957	$	186,292