Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Before Income Taxes

The components of income before income taxes consisted of the following (in thousands):

	Year Ended December 31,
	2021		2020		2019
Domestic	$	187,535	$	158,432	$	117,326
Foreign jurisdictions		14,317		10,100		7,506
Income before income taxes	$	201,852	$	168,532	$	124,832

Schedule of Income Tax Provision

Income tax provision consisted of the following (in thousands):

	Current		Deferred			Total
Year ended December 31, 2021
U.S. Federal	$	46,138	$	(32,677	)	$	13,461
U.S. state and local		8,405		(3,622	)		4,783
Foreign jurisdictions		2,580		(820	)		1,760
	$	57,123	$	(37,119	)	$	20,004
Year ended December 31, 2020
U.S. Federal	$	16,405	$	436		$	16,841
U.S. state and local		4,588		95			4,683
Foreign jurisdictions		1,586		38			1,624
	$	22,579	$	569		$	23,148
Year ended December 31, 2019
U.S. Federal	$	10,577	$	8,922		$	19,499
U.S. state and local		1,761		987			2,748
Foreign jurisdictions		2,023		119			2,142
	$	14,361	$	10,028		$	24,389

Summary Of Difference Between Statutory Rate for Federal Income Tax and Effective Income Tax Rate

The difference between the statutory rate for federal income tax and the effective income tax rate was as follows (in thousands):

	Year Ended December 31,
	2021					2020					2019
Income tax expense calculated    at the federal statutory rate	$	42,389		21.0	%	$	35,392		21.0	%	$	26,215		21.0	%
Effect of:
State and local taxes, net    of federal benefit		3,698		1.8			2,639		1.6			2,021		1.6
Tax on foreign earnings,    net of tax credits and    deductions		(3,113	)	(1.5	)		(1,773	)	(1.1	)		593		0.4
Deferred credit		(667	)	(0.3	)		(700	)	(0.4	)		(802	)	(0.6	)
Permanent items:
Stock-based awards		(19,042	)	(9.5	)		(10,019	)	(5.9	)		(3,011	)	(2.4	)
Deduction for FDII		(4,860	)	(2.4	)		(2,593	)	(1.5	)		(2,283	)	(1.8	)
Other		(364	)	(0.2	)		144		0.1			964		0.8
State/Local tax credits		(976	)	(0.5	)		(780	)	(0.5	)		(793	)	(0.6	)
Change in liability for    uncertain tax positions		2,349		1.2			1,120		0.7			1,325		1.0
Other		590		0.3			(282	)	(0.3	)		160		0.1
	$	20,004		9.9	%	$	23,148		13.7	%	$	24,389		19.5	%

Schedule of Components of Company's Net Deferred Tax Asset (Liability)

Components of the Company’s net deferred tax asset (liability) included in the consolidated balance sheets consisted of the following at December 31 (in thousands):

	2021			2020
Deferred tax assets:
Accrued liabilities	$	21,028		$	16,634
Depreciation and amortization		989			881
Foreign operating loss carryforward		386			311
Advanced billings		37,226			-
Other		1,148			246
Valuation allowance		(850	)		(578	)
Total deferred tax assets		59,927			17,494
Deferred tax liabilities:
Depreciation and amortization		(34,065	)		(26,119	)
Prepaid expenses		(1,292	)		(829	)
Advanced billings		-			(3,513	)
Other		(516	)		(48	)
Total deferred tax liabilities		(35,873	)		(30,509	)
Net deferred tax asset (liability)	$	24,054		$	(13,015	)

Schedule of Annual Activity Related to Valuation Allowance

Annual activity related to the Company’s valuation allowance is as follows (in thousands):

	Year Ended December 31,
	2021			2020			2019
Beginning Balance	$	578		$	755		$	169
Additions charged to expense		305			-			375
Additions due to asset acquisition		-			-			265
Reductions from utilization, reassessments and    expirations		(33	)		(177	)		(54	)
Ending Balance	$	850		$	578		$	755

Schedule of Gross Unrecognized Tax Benefits

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

	Year Ended December 31,
	2021			2020			2019
Beginning Balance	$	10,691		$	9,718		$	8,525
Increases in tax positions for prior years		1,253			-			-
Decreases in tax positions for prior years		(223	)		(181	)		(888	)
Increases in tax positions for current year		3,098			2,881			2,081
Lapse in statute of limitations		(1,035	)		(1,727	)		-
Ending Balance	$	13,784		$	10,691		$	9,718