Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Provision for Income Taxes

The following table sets forth the components of the provision for income taxes:

			Year Ended December 31, 2022
	Successor				Predecessor
	Year Ended December 31, 2023		July 25, 2022 through December 31, 2022		January 1, 2022 through July 24, 2022		Year Ended December 31, 2021
Current:
Federal	$	63,036	$	14,096	$	148,371	$	219,379
State	9,692		3,307		38,814		64,509
Foreign	17,634		4,480		5,315		11,590
Total current	90,362		21,883		192,500		295,478
Deferred:
Federal	(94,580)		(31,529)		(23,867)		(43,980)
State	(33,605)		(5,632)		(4,637)		(18,363)
Foreign	(5,567)		205		1,818		2,833
Total deferred	(133,752)		(36,956)		(26,686)		(59,510)
Total income taxes	$	(43,390)	$	(15,073)	$	165,814	$	235,968

Schedule of Effective Income Tax Rate Reconciliation

The following table sets forth a reconciliation of income tax computed at the U.S. federal statutory tax rate to the effective income tax rate:

			Year Ended December 31, 2022
	Successor				Predecessor
	Year Ended December 31, 2023		July 25, 2022 through December 31, 2022		January 1, 2022 through July 24, 2022		Year Ended December 31, 2021
Federal income tax statutory rate	21.0	%	21.0	%	21.0	%	21.0	%
State income taxes, net of federal income tax	6.1	%	3.9	%	4.0	%	3.8	%
Non-deductible expenses	0.7	%	(1.1)	%	0.6	%	0.2	%
Foreign tax and other credits	2.3	%	8.9	%	(0.2)	%	(1.6)	%
Section 1245 recapture	(2.1)	%	—	%	—	%	—	%
Uncertain tax positions	1.3	%	—	%	0.1	%	0.6	%
Compensation related expenses	(4.2)	%	(3.5)	%	0.1	%	0.3	%
Global intangible low-taxed income	—	%	(8.7)	%	—	%	0.9	%
State rate differential(1)	10.9	%	—	%	—	%	—	%
Foreign rate differential	(2.2)	%	(1.4)	%	0.2	%	0.4	%
Other	2.7	%	0.1	%	(0.3)	%	0.6	%
Effective tax rate	36.5	%	19.2	%	25.5	%	26.2	%

(1)Related to the Merger transaction and internal restructuring.

Schedule of Deferred Tax Assets and Liabilities

The net deferred income tax liability consists of the following:

	Successor
	December 31, 2023		December 31, 2022
Deferred tax assets:
Inventory obsolescence	$	9,215	$	9,678
Allowance for credit losses	5,170		3,341
Accrued and deferred compensation	13,090		20,942
Accrued insurance liability	12,124		9,268
Net operating loss and tax credit carryover	15,102		27,211
Defined benefit plans	2,232		2,221
Leases	82,929		84,144
Section 163(j) interest	46,274		19,371
Section 174 costs	20,942		7,219
Warranty liabilities	39,860		42,843
Other	28,928		28,903
Total deferred income tax assets	275,866		255,141
Valuation allowance	(1,578)		(3,158)
Net deferred income tax assets	274,288		251,983
Deferred income tax liabilities:
Intangible assets	(491,948)		(573,826)
Property-related items	(124,826)		(90,042)
Stock basis	(15,197)		(12,680)
Leases	(87,964)		(84,203)
Debt	(82,866)		(103,671)
Other	(24,672)		(38,612)
Total deferred income tax liabilities	(827,473)		(903,034)
Total deferred income tax liability, net	$	(553,185)	$	(651,051)

Schedule of Changes in Valuation Allowance on Deferred Taxes

The following table sets forth the changes in the valuation allowance on deferred taxes:

			Year Ended December 31, 2022
	Successor				Predecessor
	Year Ended December 31, 2023		July 25, 2022 through December 31, 2022		January 1, 2022 through July 24, 2022		Year Ended December 31, 2021
Beginning balance(1)	$	3,158	$	3,006	$	15,634	$	11,996
Additions (reductions)	(1,580)		152		(3,004)		3,638
Ending balance	$	1,578	$	3,158	$	12,630	$	15,634

(1)    In connection with the Merger, the beginning balance for the Successor period reflects acquisition-related adjustments of $9.6 million.

Schedule of Changes in Unrecognized Tax Benefits

The following table sets forth the changes in unrecognized tax benefits (excluding interest and penalties):

			Year Ended December 31, 2022
	Successor				Predecessor
	Year Ended December 31, 2023		July 25, 2022 through December 31, 2022		January 1, 2022 through July 24, 2022		Year Ended December 31, 2021
Beginning balance	$	14,756	$	14,928	$	14,845	$	9,403
Additions based on tax positions related to current year	245		232		—		6,037
Additions (reductions) for tax positions of prior years	(52)		5		83		15
Reductions resulting from expiration of statute of limitations	(2,799)		(409)		—		(610)
Ending balance	$	12,150	$	14,756	$	14,928	$	14,845