Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

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 millions)	2022			2021		2020
Current:
Federal	$	124.1		$	106.8	$	93.7
State		35.3			32.6		34.1
Foreign		2.1			1.8		0.3
Total current provision		161.5			141.2		128.1
Deferred:
Federal		38.9			28.0		11.6
State		8.2			5.0		4.1
Foreign		(4.3	)		1.5		(0.2	)
Total deferred provision		42.8			34.5		15.5
Total tax provision	$	204.3		$	175.7	$	143.6

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:

	2022			2021			2020
Federal statutory tax rate		21.0	%		21.0	%		21.0	%
State income taxes, net of federal income tax benefit		4.7			4.7			5.3
Non-deductible employee stock purchase plan expense		0.2			0.2			0.3
Non-deductible meals and entertainment		0.1			—			0.1
Non-deductible officers’ compensation		0.6			0.4			0.3
Tax benefit from stock-based compensation		(3.1	)		(3.6	)		(3.5	)
Other, net		(0.2	)		0.3			(0.5	)
Effective tax rate		23.3	%		23.0	%		23.0	%

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 millions)	2022			2021
Non-current deferred tax liabilities:
Intangible assets	$	631.6		$	440.2
Fixed assets		21.1			20.0
Right-of-use assets		48.3			47.7
Impact of adoption of ASC 606 revenue recognition		19.8			15.2
Net unrealized holding (loss)/gain on available-for-sale    securities		(0.4	)		—
Total non-current deferred tax liabilities		720.4			523.1
Non-current deferred tax assets:
Deferred compensation		67.4			66.4
Accruals and reserves		12.5			15.7
Lease liabilities		54.6			53.3
Net operating loss carryforwards and other carryforwards		3.0			1.9
Valuation allowance for deferred tax assets		(1.1	)		(1.0	)
Total non-current deferred tax assets		136.4			136.3
Net non-current deferred tax liability	$	584.0		$	386.8

Schedule of Reconciliation of Unrecognized Tax Benefits

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

(in millions)	2022		2021			2020
Unrecognized tax benefits balance at January 1	$	0.9	$	1.3		$	1.1
Gross increases for tax positions of prior years		2.2		0.3			0.9
Gross decreases for tax positions of prior years		—		(0.5	)		(0.7	)
Settlements		—		(0.2	)		—
Unrecognized tax benefits balance at December 31	$	3.1	$	0.9		$	1.3