Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Provision for Income Taxes

The provision for income taxes is comprised of the following (in thousands):

	Years ended December 31,
	2022		2021		2020
Current:
Federal	$	55,488	$	27,011	$	33,495
State	17,312		10,139		8,918
	72,800		37,150		42,413
Deferred:
Federal	5,584		(437)		(7,177)
State	1,495		(1)		(1,298)
	7,079		(438)		(8,475)
Total tax expense	$	79,879	$	36,712	$	33,938

Reconciliation Between Effective Tax Rate on Net Income (Loss) and Federal Statutory Tax Rate

The reconciliation between our effective tax rate on net income and the federal statutory rate is as follows (dollars in thousands):

	Years ended December 31,
	2022				2021				2020
Income tax at federal statutory rate	$	63,694	21.0	%	$	32,650	21.0	%	$	27,547	21.0	%
Stock compensation	300		0.1	%	(1,567)		(1.0)	%	331		0.3	%
Other permanent items	1,282		0.4	%	1,274		0.8	%	424		0.3	%
Change in valuation allowance	(184)		(0.1)	%	(922)		(0.6)	%	(207)		(0.2)	%
Change in uncertain tax positions	(459)		(0.1)	%	(2,867)		(1.8)	%	65		0.1	%
State income taxes, net of federal benefit	15,246		5.0	%	8,144		5.2	%	5,778		4.4	%
Total tax expense	$	79,879	26.3	%	$	36,712	23.6	%	$	33,938	25.9	%

Net Deferred Tax Asset or Liability

Components of the net deferred tax asset or liability are as follows (in thousands):

	As of December 31,
	2022		2021
Deferred Tax Assets
Long-term
Accrued liabilities and allowances	$	13,009	$	10,200
Allowance for doubtful accounts	1,251		979
Inventories	1,210		900
Property and equipment	538		333
Intangibles	7,673		7,042
Net operating loss carryforwards	719		1,049
Other	15		14
Long-term deferred tax assets	24,415		20,517
Less: Valuation allowance	(44)		(216)
Net deferred tax assets	24,371		20,301
Deferred Tax Liabilities
Long-term
Accrued liabilities and allowances	(640)		(669)
Property and equipment	(8,489)		(7,629)
Intangibles	(10,659)		(6,783)
Investment in partnership	(31,154)		(8,271)
Other	(1,067)		(793)
Long-term deferred tax liabilities	(52,009)		(24,145)
Net deferred tax liabilities	$	(27,638)	$	(3,844)
The above amounts are included in our Consolidated Balance Sheets as follows:
Other non-current assets	820		975
Long-term deferred income tax liabilities	(28,458)		(4,819)
Net deferred tax liabilities	$	(27,638)	$	(3,844)

Rollforward of Gross Unrecognized Tax Benefits

A rollforward of the gross unrecognized tax benefits is as follows (in thousands):

Unrecognized tax benefit, December 31, 2019	$	5,717
Increase as a result of tax positions taken during the period	3,822
Decrease as a result of tax positions taken during the period	(2,873)
Increase as a result of expiring statutes	10
Unrecognized tax benefit, December 31, 2020	$	6,676
Increase as a result of tax positions taken during the period	4,482
Decrease as a result of tax positions taken during the period	(3,999)
Decrease as a result of expiring statutes	(2,857)
Unrecognized tax benefit, December 31, 2021	$	4,302
Increase as a result of tax positions taken during the period	5,448
Decrease as a result of tax positions taken during the period	(4,863)
Increase as a result of expiring statutes	3
Unrecognized tax benefit, December 31, 2022	$	4,890