Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Summary of Income Tax Provision

The income tax provision consists of the following (in thousands):

	2024		2023			2022
Current:
U.S. federal	$	37,563	$	82,802		$	68,934
State		13,159		18,498			20,058
Total current income tax provision		50,722		101,300			88,992
Deferred:
U.S. federal		61,583		10,345			21,440
State		1,638		(275	)		194
Total deferred income tax provision		63,221		10,070			21,634
Total income tax provision	$	113,943	$	111,370		$	110,626

Summary of Reconciliation Between Income Taxes and Effective Income Tax Provision

A reconciliation between income taxes at the federal statutory rate (21 percent) and the actual income tax provision is as follows (in thousands):

	2024			2023			2022
Provision at federal statutory rate	$	99,962		$	97,908		$	98,290
State income taxes, net of federal benefit		16,606			15,580			16,274
Tax credits		(1,095	)		(1,181	)		(1,355	)
Excess tax benefit on stock compensation		(923	)		(1,004	)		(1,578	)
Other, net		(606	)		67			(1,005	)
Total provision	$	113,943		$	111,370		$	110,626

Summary of Deferred Tax Liabilities and Assets

Deferred tax (liabilities) assets are comprised of the following at December 31 (in thousands):

	2024			2023
Depreciation	$	(258,528	)	$	(196,494	)
Leases		(31,473	)		(29,361	)
Other		(6,855	)		(6,022	)
Gross deferred tax liabilities		(296,856	)		(231,877	)
Allowance for credit losses		1,047			1,097
Equity-based compensation		5,531			4,834
Employee benefits		7,958			12,014
Leases		30,815			30,227
Claims and insurance		22,564			21,597
Other		10,032			6,982
Gross deferred tax assets		77,947			76,751
Valuation Allowance		(153	)		(715	)
Net deferred tax assets		77,794			76,036
Net deferred tax liability	$	(219,062	)	$	(155,841	)

Summary of Gross Unrecognized Tax Benefits

A reconciliation of the beginning and ending total amounts of gross unrecognized tax benefits is as follows (in thousands):

	2024			2023
Gross unrecognized tax benefits at beginning of year	$	4,692		$	3,867
Gross (decreases) increases in tax positions for prior years		(1	)		2
Gross increases in tax positions for current year		764			1,077
Settlements		(731	)		—
Lapse of statute of limitations		(1,518	)		(254	)
Gross unrecognized tax benefits at end of year	$	3,206		$	4,692