Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

For the years ended December 31, 2021, 2020, and 2019, our income tax provision was calculated based on income before income taxes as follows (in thousands):


	2021		2020		2019
United States	$	497,421	$	228,181	$	430,253
Foreign	31,882		24,145		20,636
	$	529,303	$	252,326	$	450,889

Schedule of Income Tax Provision

The income tax provision for the years ended December 31, 2021, 2020, and 2019 consisted of the following (in thousands):


	2021		2020		2019
Current provision:
Federal	$	95,782	$	115,633	$	89,264
State and local	35,883		36,182		31,099
Foreign	4,420		3,922		3,685
	136,085		155,737		124,048
Deferred provision (benefit)	9,517		(36,354)		1,701
	$	145,602	$	119,383	$	125,749

Schedule of U.S. Statutory Income Tax Rate Rec

Items accounting for the differences between income taxes computed at the federal statutory rate and the income tax provision for the years ended December 31, 2021, 2020, and 2019 were as follows (in thousands):


	2021		2020		2019
Federal income taxes at the statutory rate	$	111,118	$	52,989	$	94,687
State and local income taxes, net of federal tax benefits	31,257		19,290		24,904
Permanent differences	5,316		5,860		7,149
Non-deductible impairment charges	—		40,165		—
Foreign income taxes (including UK statutory rate changes)	(2,241)		(140)		(170)
Other	152		1,219		(821)
	$	145,602	$	119,383	$	125,749

Schedule of Deferred Tax Assets and Liabilities

The deferred income tax assets and deferred income tax liabilities recorded as of December 31, 2021 and 2020 were as follows (in thousands):


	December 31, 2021		December 31, 2020
Deferred income tax assets:
Excess of amounts expensed for financial statement purposes over amounts deducted for income tax purposes:
Insurance liabilities	$	50,316	$	47,602
Pension liability	—		6,789
Operating lease liabilities	76,451		68,652
Deferred compensation	40,080		36,790
Accrued federal payroll taxes (1)	14,235		27,428
Other (including liabilities and reserves)	31,252		29,816
Total deferred income tax assets	212,334		217,077
Valuation allowance for deferred tax assets	(2,465)		(3,856)
Net deferred income tax assets	209,869		213,221

Deferred income tax liabilities:
Costs capitalized for financial statement purposes and deducted for income tax purposes:
Goodwill and identifiable intangible assets	(154,382)		(146,821)
Operating lease right-of-use assets	(71,759)		(64,434)
Depreciation of property, plant and equipment	(25,341)		(23,958)
Pension asset	(1,847)		—
Other	(7,491)		(7,444)
Total deferred income tax liabilities	(260,820)		(242,657)

Net deferred income tax liabilities	$	(50,951)	$	(29,436)

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(1)Represents employer Social Security tax payments deferred under the CARES Act.