Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

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)	2021		2020		2019
United States	$	378,460	$	216,234	$	189,834
Foreign	3,584		(6,753)		1,580
Total earnings before income taxes	$	382,044	$	209,481	$	191,414

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)	2021		2020		2019
Current:
Federal	$	78,604	$	42,541	$	33,655
State and local	17,044		9,165		6,764
Foreign	1,936		839		1,070
Total current provision	97,584		52,545		41,489
Deferred:
Federal	2,192		2,342		5,923
State and local	(517)		(671)		(969)
Foreign	(4,954)		(3,175)		(1,538)
Total deferred provision	(3,279)		(1,504)		3,416
Provision for income taxes	$	94,305	$	51,041	$	44,905

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 2021, 2020, and 2019 to income before income taxes for the following reasons for the years ended December 31:

(In thousands)	2021		2020		2019
Income tax at federal statutory rate	$	80,229	$	43,991	$	40,197
State income tax, net of federal income tax impact	13,056		6,710		4,578
Section 162(m) permanent addback	6,153		3,015		587
Federal tax credits	(1,230)		(1,307)		(1,435)
Share-based payment compensation excess tax benefit	(1,191)		(190)		(1,579)
Other	(2,712)		(1,178)		2,557
Provision for income taxes	$	94,305	$	51,041	$	44,905

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)	2021		2020
Deferred tax assets:
Stock-based compensation	$	2,632	$	2,084
Pension	8,594		8,694
Deferred compensation	15,923		13,325
Warranty	10,790		10,848
Convertible debt bond hedge	21,699		—
Inventory	16,502		7,443
Other	5,792		6,390
Lease obligation asset	41,066		22,488
Net operating loss and interest carryforwards	10,132		4,857
Total deferred tax assets before valuation allowance	133,130		76,129
Less: Valuation allowance	(1,054)		(2,809)
Total deferred tax assets net of valuation allowance	132,076		73,320
Deferred tax liabilities:
Lease obligation liability	(38,770)		(21,523)
Fixed assets	(45,562)		(35,637)
Intangible assets	(87,035)		(69,992)
Total deferred tax liabilities	(171,367)		(127,152)
Net deferred tax liabilities	$	(39,291)	$	(53,832)

Schedule of Unrecognized Tax Benefits

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

(In thousands)	2021		2020		2019
Balance at beginning of period	$	8,921	$	8,214	$	4,325
Changes in tax positions of prior years	(69)		—		480
Additions based on tax positions related to the current year	12,826		1,720		4,288
Closure of tax years	(1,216)		(1,013)		(879)
Balance at end of period	$	20,462	$	8,921	$	8,214