Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The tax effects of the significant temporary differences that comprise the deferred tax assets and liabilities are as follows:


	December 31,
(In thousands)	2020		2019
Deferred tax assets:
Warranty, insurance and other accruals	$	8,931	$	8,114
Equity-based compensation	1,537		2,109
Inventory	5,344		4,254
Operating lease liabilities	13,145		4,613
State taxes	273		213
Net operating loss carryforward	65		754
Deferred charges	—		426
Total deferred tax assets	$	29,295	$	20,483

Deferred tax liabilities:
Federal effect of state deferred taxes	$	230	$	476
Depreciation	7,794		5,288
Operating lease right-of-use assets	13,099		4,613
Prepaid expenses	1,304		475
Deferred charges	685		—
Total deferred tax liabilities	$	23,112	$	10,852

Net deferred tax asset	$	6,183	$	9,631

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The provision from income taxes consists of the following:


	Year Ended December 31,
(In thousands)	2020		2019		2018
Current:
Federal	$	54,634	$	29,602	$	24,408
State	12,087		4,985		$	4,261
	$	66,721	$	34,587	$	28,669

	Year Ended December 31,
(In thousands)	2020		2019		2018
Deferred:
Federal	$	2,520	$	1,490	$	2,333
State	928		2,361		2,624
	$	3,448	$	3,851	$	4,957
Total	$	70,169	$	38,438	$	33,626

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

Reconciliation of the differences between income taxes computed at the federal statutory tax rate and consolidated benefit from income taxes are as follows:


	Year Ended December 31,
(In thousands)	2020		2019		2018
Federal taxes at statutory rate	$	65,109	$	34,865	$	29,671
State and local taxes – net of federal tax benefit	10,761		5,981		5,636




Equity Compensation	(1,322)		(1,251)		(254)

Federal tax credits	(7,182)		(3,493)		(2,817)
Other	2,803		2,336		1,390
Total	$	70,169	$	38,438	$	33,626