Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Provision for Income Taxes

Significant components of the provision for income taxes for the years ended December 31 are as follows:

(in thousands)	2021		2020			2019
Current:
Federal	$	106,763	$	93,620		$	85,507
State		32,635		34,123			28,905
Foreign		1,831		325			620
Total current provision		141,229		128,068			115,032
Deferred:
Federal		27,963		11,655			14,994
State		4,954		4,119			(2,587	)
Foreign		1,573		(226	)		(24	)
Total deferred provision		34,490		15,548			12,383
Total tax provision	$	175,719	$	143,616		$	127,415

Schedule of Reconciliation of Effective Tax Rate and Federal Statutory Tax Rate

A reconciliation of the differences between the effective tax rate and the federal statutory tax rate for the years ended December 31 is as follows:

	2021			2020			2019
Federal statutory tax rate		21.0	%		21.0	%		21.0	%
State income taxes, net of federal income tax benefit		4.7			5.3			3.8
Non-deductible employee stock purchase plan expense		0.2			0.3			0.3
Non-deductible meals and entertainment		0.0			0.1			0.3
Non-deductible officers’ compensation		0.4			0.3			0.2
Stock Vesting under ASU 2016-19		(3.6	)		(3.5	)		(1.1	)
Other, net		0.3			(0.5	)		(0.3	)
Effective tax rate		23.0	%		23.0	%		24.2	%

Schedule of Components of Net Deferred Tax Liabilities

Significant components of the Company’s net deferred tax liabilities as of December 31 are as follows:

(in thousands)	2021			2020
Non-current deferred tax liabilities:
Intangible assets	$	440,238		$	400,335
Fixed assets		20,004			11,740
ASC 842 ROU Asset		47,663			46,730
Impact of adoption of ASC 606 revenue recognition		15,216			19,928
Net unrealized holding (loss)/gain on available-for-sale    securities		(41	)		176
Total non-current deferred tax liabilities		523,080			478,909
Non-current deferred tax assets:
Deferred compensation		66,354			59,897
Accruals and reserves		15,708			19,497
ASC 842 lease liabilities		53,343			53,150
Net operating loss carryforwards and 163(j) disallowed    carryforwards		1,910			3,168
Valuation allowance for deferred tax assets		(1,029	)		(1,025	)
Total non-current deferred tax assets		136,286			134,687
Net non-current deferred tax liability	$	386,794		$	344,222

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

(in thousands)	2021			2020			2019
Unrecognized tax benefits balance at January 1	$	1,267		$	1,127		$	1,639
Gross increases for tax positions of prior years		270			848			778
Gross decreases for tax positions of prior years		(446	)		(708	)		(791	)
Settlements		(174	)		—			(499	)
Unrecognized tax benefits balance at December 31	$	917		$	1,267		$	1,127