Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The provision for income taxes consists of the following:

	Year Ended December 31,
		2024			2023			2022
	(In thousands)
Current:
Federal	$		48,337		$	49,028		$	52,865
State and local			9,695			4,047			20,716
Foreign			32,211			27,385			21,030
Total current provision			90,243			80,460			94,611
Deferred:
Federal			(2,884	)		(2,823	)		(5,830	)
State and local			(573	)		(754	)		(1,350	)
Foreign			(421	)		(2,238	)		633
Total deferred provision			(3,878	)		(5,815	)		(6,547	)
Provision for income taxes	$		86,365		$	74,645		$	88,064

Difference between the U.S. federal statutory tax rate and the Company's effective tax rate

The difference between the U.S. federal statutory tax rate of 21.0% and the Company’s effective tax rate is as follows:

	Year Ended December 31,
	2024				2023				2022
U.S. federal statutory tax rate		21.0		%		21.0		%		21.0		%
State and local taxes, net of federal benefit		1.9				0.8				4.6
Tax credits		(1.3	)			(1.0	)			(0.4	)
Foreign rate differential detriment (benefit)		1.4				0.9				(0.1	)
Excess tax detriment (benefit) from stock-based compensation		0.4				0.1				(0.1	)
Other, net		0.6				0.6				1.0
Effective tax rate		24.0		%		22.4		%		26.0		%

Summary of Company's Net Deferred Tax Assets

The following is a summary of the Company’s net deferred tax assets:

		As of December 31,
		2024				2023
		(In thousands)
Deferred tax assets:
Stock compensation expense	$		4,880		$		4,441
Operating lease liabilities			15,753				17,128
Deferred compensation			2,700				2,596
Capitalized software development			3,130				791
Other			1,096				224
Total deferred tax assets			27,559				25,180
Valuation allowance			—				—
Net deferred tax assets			27,559				25,180
Deferred tax liabilities:
Depreciation			(6,990	)			(8,617	)
Goodwill and intangible assets			(5,307	)			(3,987	)
Operating lease right-of-use assets			(12,515	)			(13,507	)
Other deferred tax liabilities			—				(276	)
Deferred tax asset (liability), net	$		2,747		$		(1,207	)

Reconciliation of the Unrecognized Tax Benefits

A reconciliation of the Company’s unrecognized tax benefits is as follows:

	Year Ended December 31,
		2024			2023				2022
	(In thousands)
Balance at beginning of year		$	3,130			$	9,835			$	15,089
Increase/(decrease) based on tax positions related to prior periods			—				—				160
(Decrease) related to settlements with taxing authorities			(3,130	)			(6,705	)			(5,414	)
Balance at end of year		$	—			$	3,130			$	9,835