Taxes on Income

3 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

Taxes on Income

(8) Taxes on Income

At March 31, 2023 and December 31, 2022, the Company had a federal income tax receivable of $70.4 million included in Accounts Receivable – Other on the balance sheets. During the first quarter of 2023, the Internal Revenue Service (“IRS”) communicated to the Company that it has completed its examination of the Company’s federal income tax returns for the years 2013 through 2020. In April 2023, the Company received its tax refund of $70.4 million plus accrued interest.

Earnings before taxes on income and details of the provision for taxes on income were as follows (in thousands):

	Three Months Ended March 31,
	2023		2022
Earnings before taxes on income:
United States	$	53,863	$	23,654
Foreign		809		145
	$	54,672	$	23,799
Provision for taxes on income:
Federal:
Current	$	—	$	—
Deferred		11,733		5,257
State and local:
Current		1,267		263
Deferred		840		599
Foreign - current		211		94
	$	14,051	$	6,213