Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Taxes

Schedule of components of income tax expense (benefit)

	Year Ended December 31,
	2022		2021		2020
Current:
Federal	$	50,194	$	59,450	$	63,932
State		5,017		5,822		8,875
		55,211		65,272		72,807
Deferred:
Federal		(578)		5,050		2,842
State		811		623		295
		233		5,673		3,137
Tax expense recorded as an increase of paid-in capital		—		—		—
	$	55,444	$	70,945	$	75,944

Schedule of effective income tax rate reconciliation

	Year Ended December 31,
	2022		2021		2020
Statutory U.S. federal income tax rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal tax benefit	2.8		2.4		2.4
State tax credits, net of federal effect	(1.6)		(1.2)		(1.2)
Excess tax benefits	(0.1)		(1.3)		(0.4)
Nondeductible expenses	0.2		0.1		—
Other	0.8		0.4		1.0
Effective income tax rate	23.1	%	21.4	%	22.8	%

Schedule of deferred tax assets and liabilities

Significant components of the Company’s deferred income tax assets and liabilities, included in Deferred income taxes, non-current on the consolidated balance sheets are as follows:

	As of December 31,		As of December 31,
	2022		2021
Deferred tax assets:
Share-based compensation	$	2,725	$	2,422
Employee compensation		1,109		802
Intangibles		14,872		17,598
Leases		1,270		847
State taxes		3,998		3,508
Other		232		199
Deferred tax assets		24,206		25,376
Deferred tax liability:
Property and equipment		(13,350)		(14,905)
Goodwill		(37,051)		(36,295)
Other		—		(138)
Deferred tax liability		(50,401)		(51,338)
Net deferred tax liability	$	(26,195)	$	(25,962)

The net deferred tax liability on the accompanying consolidated balance sheet is comprised of the following:

	As of December 31,		As of December 31,
	2022		2021
Deferred income taxes, current	$	5,172	$	4,172
Deferred income taxes, non-current		(31,367)		(30,134)
Net deferred tax liability	$	(26,195)	$	(25,962)

Reconciliation of the beginning and ending balance of unrecognized tax benefits

	2022		2021
Unrecognized tax benefits, beginning of year	$	14,108	$	11,318
Tax positions taken during the current year
Increases		2,814		3,973
Decreases		—		—
Tax positions taken during a prior year
Increases		1,313		262
Decreases		(1,954)		(1,064)
Decreases for settlements during the period		—		(74)
Reductions for lapses of applicable statute of limitations		(419)		(307)
Unrecognized tax benefits, end of year	$	15,862	$	14,108