Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Summarized Statement of Components of Income Tax Provision

The income tax provision for the years ended December 31, 2022, 2021 and 2020, is comprised of the following components:

	For the Year Ended December 31, 2022
	Federal		State		Total
Current expense	$	20,592	$	4,546	$	25,138
Tax credits/true-up	(6,071)		31		(6,040)
Change in deferred expense/(benefit)	1,909		(82)		1,827
Total tax expense	$	16,430	$	4,495	$	20,925

 

	For the Year Ended December 31, 2021
	Federal		State		Total
Current expense	$	21,017	$	3,520	$	24,537
Tax credits/true-up	(4,979)		(138)		(5,117)
Change in deferred expense	818		86		904
Total tax expense	$	16,856	$	3,468	$	20,324

 

	For the Year Ended December 31, 2020
	Federal		State		Total
Current expense	$	15,553	$	3,347	$	18,900
Tax credits/true-up	(5,610)		(135)		(5,745)
Change in deferred benefit	594		61		655
Total tax expense	$	10,537	$	3,273	$	13,810

Schedule of Reconciliation of Statutory Income Tax Provisions to the Effective Income Tax Provisions

A reconciliation of the statutory income tax provisions to the effective income tax provisions for the periods indicated is as follows:

	For the Year Ended December 31,
	2022				2021				2020
Expected tax at statutory rate	$	197,887	21.0	%	$	188,600	21.0	%	$	111,760	21.0	%
Non-taxable REIT income	(172,966)		(18.4)	%	(166,137)		(18.5)	%	(94,270)		(17.7)	%
State and local tax expense - net of federal benefit	4,160		0.4	%	3,259		0.4	%	3,075		0.6	%
Change in valuation allowance	(1,093)		(0.1)	%	(1,061)		(0.1)	%	(363)		(0.1)	%
Tax credits/true-up	(6,040)		(0.6)	%	(5,117)		(0.6)	%	(5,745)		(1.1)	%
Miscellaneous	(1,023)		(0.1)	%	780		0.1	%	(647)		(0.1)	%
Total provision	$	20,925	2.2	%	$	20,324	2.3	%	$	13,810	2.6	%

Schedule of Major Sources of Temporary Differences Stated at their Deferred Tax Effects

The major sources of temporary differences stated at their deferred tax effects are as follows:

	December 31, 2022		December 31, 2021
Deferred tax liabilities:
Fixed assets	$	(32,551)	$	(30,499)
Operating and Finance lease right-of-use assets	(6,610)		(6,016)
Other	(48)		(61)
State deferred taxes	(3,607)		(3,842)
Total deferred tax liabilities	(42,816)		(40,418)
Deferred tax assets:
Captive insurance subsidiary	335		396
Accrued liabilities	2,541		2,383
Stock compensation	3,467		3,076
Operating and Finance lease liabilities	8,418		7,936
Other	48		916
State deferred taxes	5,232		6,548
Total deferred tax assets	20,041		21,255
Valuation allowance	(1,148)		(2,241)
Net deferred income tax liabilities	$	(23,923)	$	(21,404)