Taxes on Income (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Earnings (Loss) Before Taxes

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

	Year Ended December 31,
	2023			2022		2021
Earnings (loss) before taxes on income:
United States	$	293,011		$	164,590	$	(290,181	)
Foreign		1,114			385		(420	)
	$	294,125		$	164,975	$	(290,601	)
Provision (benefit) for taxes on income:
U.S. Federal:
Current	$	(41	)	$	513	$	(460	)
Deferred		61,205			34,980		(48,843	)
	$	61,164		$	35,493	$	(49,303	)
U.S. State:
Current	$	5,498		$	3,793	$	1,560
Deferred		4,093			2,802		4,424
	$	9,591		$	6,595	$	5,984
Foreign:
Current	$	465		$	126	$	(511	)
	$	465		$	126	$	(511	)
Consolidated:
Current	$	5,922		$	4,432	$	589
Deferred		65,298			37,782		(44,419	)
	$	71,220		$	42,214	$	(43,830	)

Effective Income Tax Rate Reconciliation

The Company’s provision (benefit) for taxes on income varied from the statutory federal income tax rate due to the following:

	Year Ended December 31,
	2023			2022			2021
United States income tax statutory rate		21.0	%		21.0	%		21.0	%
State and local taxes, net of federal benefit		2.6			3.1			(1.7	)
Other – net		0.6			1.5			(4.2	)
		24.2	%		25.6	%		15.1	%

Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities were as follows (in thousands):

	December 31,
	2023			2022
Deferred tax assets:
Allowance for doubtful accounts	$	1,549		$	1,556
Inventory		10,500			11,679
Insurance accruals		6,077			4,856
Deferred compensation		11,441			7,703
Unrealized gain on defined benefit plans		(9,982	)		(5,532	)
Goodwill and other intangibles		39,719			52,847
Operating loss carryforwards		52,082			79,699
Retirement benefits		3,548			5,472
Other		13,467			9,962
		128,401			168,242
Valuation allowances		(22,073	)		(19,960	)
		106,328			148,282
Deferred tax liabilities:
Property		(695,233	)		(671,830	)
Deferred state taxes		(90,457	)		(87,445	)
Other		(17,195	)		(14,891	)
		(802,885	)		(774,166	)
	$	(696,557	)	$	(625,884	)

Reconciliation of Liability for Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of the liability for unrecognized tax benefits is as follows (in thousands):

	Year Ended December 31,
	2023			2022			2021
Balance at beginning of year	$	662		$	737		$	783
Additions based on tax positions related to the current year		—			13			13
Additions for tax positions of prior years		—			66			281
Reductions for tax positions of prior years		(14	)		(154	)		(340	)
Balance at end of year	$	648		$	662		$	737