Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

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:


	2023		2022		2021
Income (Loss):
U.S.	$	66,432	$	31,681	$	38,717
Non-U.S.	24,637		43,904		20,841
	$	91,069	$	75,585	$	59,558

Schedule Of Components Of Income Taxes Provision Benefit

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


	2023		2022		2021
Current tax provision
U.S. federal	$	4,868	$	13,229	$	7,259
U.S. state and local	3,103		8,106		7,459
Non-U.S.	13,143		22,368		12,498
	21,114		43,703		27,216
Deferred tax provision (benefit):
U.S. federal	18,168		(16,132)		(143)
U.S. state and local	7,017		701		(2,521)
Non-U.S.	(5,742)		(2,810)		(1,154)
	19,443		(18,241)		(3,818)
Income tax expense	$	40,557	$	25,462	$	23,398

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:


	2023			2022			2021
Income before income taxes, equity in non-consolidated affiliates and noncontrolling interest	$	91,069		$	75,585		$	59,558
Statutory income tax rate	21.0		%	21.0		%	21.0		%
Tax expense using U.S. statutory income tax rate	$	19,124		$	15,873		$	12,507
Impact of disregarded entity structure	(8,520)			(3,355)			(6,954)
Foreign, net	(3,684)			6,930			5,995
State taxes, net	8,422			8,807			4,327
Stock compensation	400			(1,342)			4,009
Valuation allowance	11,791			4,932			(15)
Revaluation of TRA step up	(424)			(5,109)			—
Gain on sale of business	8,347			—
Prior year adjustments	5,617			(17,205)			—
Goodwill impairments	—			14,645			—
Other, net	(516)			1,286			3,529
Income tax expense	$	40,557		$	25,462		$	23,398
Effective income tax rate	44.5		%	33.7		%	39.3		%

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:


	2023		2022		2021
Deferred tax assets:
Net operating losses	$	29,835	$	44,001	$	33,112
Tax credits	6,355		7,104		6,644
Operating lease liability	50,657		52,442		48,173
Interest deductions	36,618		30,681		30,760
Accruals and other liabilities	252		2,794		3,720
TRA and related step-up, net of amortization	29,007		30,556		—
Other	13,568		10,584		15,160
Gross deferred tax asset	166,292		178,162		137,569
Less: valuation allowance	(26,288)		(14,395)		(5,825)
Net deferred tax assets	$	140,004	$	163,767	$	131,744
Deferred tax liabilities:
Right-of-use lease asset - operating leases	38,261		40,012		37,001
Property and equipment, net	11,553		9,329		4,212
Goodwill and intangibles	83,335		85,990		83,607
Residual basis differences	—		—		102,297
Other	205		940		6,854
Total deferred tax liabilities	133,354		136,271		233,971
Net deferred tax asset (liability)	$	6,650	$	27,496	$	(102,227)

Deferred tax assets	$	47,159	$	68,375	$	866
Deferred tax liabilities	(40,509)		(40,879)		(103,093)
	$	6,650	$	27,496	$	(102,227)

Schedule Of Changes In Tax Reserve


	2023		2022
A reconciliation of the change in unrecognized tax benefits is as follows:
Unrecognized tax benefit - Beginning Balance	$	2,136	$	1,038
Current year positions	288		—
Prior period positions	(1,840)		1,850
Settlements	(289)		(477)
Lapse of statute of limitations	(286)		(275)
Unrecognized tax benefits - Ending Balance	$	9	$	2,136