Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The components of earnings before income taxes consisted of the following for the years ended December 31:

(In thousands)	2019		2018		2017
United States	$	189,834	$	191,095	$	213,967
Foreign	1,580		1,257		(1,123)
Total earnings before income taxes	$	191,414	$	192,352	$	212,844

Schedule of Provisions of Income Taxes

The provision for income taxes in the Consolidated Statements of Income was as follows for the years ended December 31:

(In thousands)	2019		2018		2017
Current:
Federal	$	33,655	$	22,297	$	62,274
State and local	6,764		6,416		10,720
Foreign	1,070		1,214		158
Total current provision	41,489		29,927		73,152
Deferred:
Federal	5,923		12,478		7,614
State and local	(969)		1,639		(806)
Foreign	(1,538)		(243)		—
Total deferred provision	3,416		13,874		6,808
Provision for income taxes	$	44,905	$	43,801	$	79,960

Schedule of Income Tax Reconciliation

The provision for income taxes differs from the amount computed by applying the federal statutory rate of 21 percent for 2019 and 2018 and 35 percent for 2017 to income before income taxes for the following reasons for the years ended December 31:

(In thousands)	2019		2018		2017
Income tax at federal statutory rate	$	40,197	$	40,394	$	74,495
State income tax, net of federal income tax impact	4,578		6,261		6,011
Domestic production deduction	—		—		(5,511)
Share-based payment compensation excess tax benefit	(1,579)		(2,914)		(7,683)
Changes in tax law (TCJA)	—		612		13,210
Other	1,709		(552)		(562)
Provision for income taxes	$	44,905	$	43,801	$	79,960

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities were as follows at December 31:

(In thousands)	2019		2018
Deferred tax assets:
Goodwill and other intangible assets	$	—	$	3,854
Stock-based compensation	2,290		2,956
Deferred compensation	5,976		6,710
Warranty	11,246		10,931
Inventory	8,001		6,375
Other	2,585		3,454
Lease obligation asset	25,055		822
Net operating loss and interest carryforwards	7,352		1,467
Total deferred tax assets before valuation allowance	62,505		36,569
Less: Valuation allowance	(1,662)		(1,261)
Total deferred tax assets net of valuation allowance	60,843		35,308
Deferred tax liabilities:
Lease obligation liability	(24,368)		—
Fixed assets	(27,898)		(24,360)
Intangible assets	(44,317)		(8,501)
Total deferred tax liabilities	(96,583)		(32,861)
Net deferred tax (liabilities) assets	$	(35,740)	$	2,447

Schedule of Unrecognized Tax Benefits

The following table reconciles the total amounts of unrecognized tax benefits, at December 31:

(In thousands)	2019		2018		2017
Balance at beginning of period	$	4,325	$	4,145	$	3,747
Changes in tax positions of prior years	480		114		(174)
Additions based on tax positions related to the current year	4,288		802		1,255
Payments	—		—		(211)
Closure of tax years	(879)		(736)		(472)
Balance at end of period	$	8,214	$	4,325	$	4,145