Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Income before Income Tax, Domestic and Foreign

The components of the Company’s income before income taxes and equity in earnings of non-consolidated affiliates by taxing jurisdiction for the years ended December 31, were:


	2022		2021		2020
Income (Loss):
U.S.	$	29,597	$	38,717	$	95,939
Non-U.S.	43,904		20,841		(18,599)
	$	73,501	$	59,558	$	77,340

Schedule Of Components Of Income Taxes Provision Benefit

The provision (benefit) for income taxes by taxing jurisdiction for the years ended December 31, were:


	2022		2021		2020
Current tax provision
U.S. federal	$	3,913	$	7,259	$	5,812
U.S. state and local	5,588		7,459		3,242
Non-U.S.	16,398		12,498		2,346
	25,899		27,216		11,400
Deferred tax provision (benefit):
U.S. federal	(8,049)		(143)		(1,951)
U.S. state and local	(6,439)		(2,521)		389
Non-U.S.	(3,831)		(1,154)		(3,901)
	(18,319)		(3,818)		(5,463)
Income tax expense	$	7,580	$	23,398	$	5,937

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of income tax expense (benefit) using the U.S. federal income tax rate compared with actual income tax expense for the years ended December 31, is as follows:


	2022			2021			2020
Income before income taxes, equity in non-consolidated affiliates and noncontrolling interest	$	73,501		$	59,558		$	77,340
Statutory income tax rate	21.0		%	21.0		%	21.0		%
Tax expense using U.S. statutory income tax rate	$	15,435		$	12,507		$	16,241
Impact of disregarded entity structure	(3,355)			(6,954)			(16,049)
Foreign, net	2,111			5,995			752
State taxes, net	(850)			4,327			1,980
Stock compensation	(1,342)			4,009			—
Valuation allowance	2,760			(15)			1,286
Revaluation of TRA step up	(6,952)			—			—
Return to provision adjustments	(16,159)			—			—
Goodwill impairments	14,645			—			—
Other, net	1,287			3,529			1,727
Income tax expense	$	7,580		$	23,398		$	5,937
Effective income tax rate	10.3		%	39.3		%	7.7		%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of significant temporary differences representing deferred tax assets and liabilities at December 31, were as follows:


	2022		2021		2020
Deferred tax assets:
Net operating losses	$	38,871	$	33,112	$	10,229
Tax credits	7,104		6,644		583
Operating lease liability	52,442		48,173		4,141
Interest deductions	29,530		30,760		—
Accruals and other liabilities	2,794		3,720		—
TRA and related step-up, net of amortization	32,890		—		—
Other	14,557		15,160		3,344
Gross deferred tax asset	178,188		137,569		18,297
Less: valuation allowance	(12,223)		(5,825)		(5,551)
Net deferred tax assets	$	165,965	$	131,744	$	12,746
Deferred tax liabilities:
Right-of-use lease asset - operating leases	40,012		37,001		3,577
Property and equipment, net	6,839		4,212		463
Goodwill and intangibles	90,599		83,607		21,959
Residual basis differences	—		102,297		—
Other	940		6,854		2,639
Total deferred tax liabilities	138,390		233,971		28,638
Net deferred tax asset (liability)	$	27,575	$	(102,227)	$	(15,892)

Deferred tax assets	$	67,684	$	866	$	158
Deferred tax liabilities	(40,109)		(103,093)		(16,050)
	$	27,575	$	(102,227)	$	(15,892)

Schedule Of Changes In Tax Reserve


	2022		2021
A reconciliation of the change in unrecognized tax benefits is as follows:
Unrecognized tax benefit - Beginning Balance	$	1,038	$	—
Current year positions	—		—
Prior period positions	1,850		1,038
Settlements	(477)		—
Lapse of statute of limitations	(275)		—
Unrecognized tax benefits - Ending Balance	$	2,136	$	1,038