XML 57 R35.htm IDEA: XBRL DOCUMENT v3.25.0.1
Income Taxes Level 3 (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]
Income before income taxes was composed of the following components:
Years Ended December 31,
202420232022
 (In thousands)
United States$631,159 $664,745 $703,131 
Foreign44,259 43,861 52,497 
Total income before income taxes
$675,418 $708,606 $755,628 
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
Income tax provision consisted of the following:
Years Ended December 31,
202420232022
(In thousands)
Current:   
United States$113,379 $(30,832)$139,132 
Foreign13,069 14,989 14,486 
State22,676 (4,728)32,505 
Total current income taxes149,124 (20,571)186,123 
Deferred:   
United States$5,971 $155,677 $(59)
Foreign(32)(1,999)780 
State1,602 37,838 2,750 
Total deferred income taxes7,541 191,516 3,471 
Total income taxes$156,665 $170,945 $189,594 
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
The differences between the U.S. federal statutory income tax rate and our effective tax rate were as follows:
Years Ended December 31,
202420232022
 (In thousands)
Computed tax provision at the applicable federal statutory income tax rate$141,838 $148,807 $158,682 
State and local taxes, net of federal income tax benefits21,587 27,041 28,817 
Foreign jurisdiction differences3,509 3,756 3,976 
Permanent differences associated with divestitures365 47 200 
Changes in uncertain tax positions and audit settlements(1,083)110 53 
Excess tax benefit from share-based compensation(11,924)(8,406)(8,918)
Other2,373 (410)6,784 
Provision for income taxes$156,665 $170,945 $189,594 
Total consolidated effective tax rate23.2 %24.1 %25.1 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] The tax effects of temporary differences and carryforwards that give rise to significant portions of deferred tax assets and liabilities consisted of the following:
Years Ended December 31,
20242023
 (In thousands)
Inventories and cemetery property$(195,851)$(196,887)
Deferred incremental direct selling costs(110,305)(104,686)
Property and equipment(146,121)(177,411)
Intangibles(213,641)(207,727)
Deferred revenue on preneed funeral and cemetery contracts(100,095)(80,178)
Other(6,085)(5,746)
Deferred tax liabilities(772,098)(772,635)
Loss and tax credit carryforwards113,603 127,796 
Accrued liabilities115,515 122,887 
Deferred tax assets229,118 250,683 
Less: valuation allowance(99,325)(108,834)
Net deferred income tax liability$(642,305)$(630,786)
Schedule of Deferred Taxes Classification [Table Text Block]
Deferred tax assets and deferred income tax liabilities are recognized in our Consolidated Balance Sheet as follows:
Years Ended December 31,
20242023
(In thousands)
Non-current deferred tax assets - included in Deferred charges and other assets, net
$6,890 $7,320 
Non-current deferred tax liabilities - included in Deferred tax liability
(649,195)(638,106)
Net deferred income tax liability$(642,305)$(630,786)
Summary of Income Tax Contingencies [Table Text Block]
The following table summarizes the activity related to our gross unrecognized tax benefits from January 1, 2022 to December 31, 2024 (in thousands):
 Federal, State, and Foreign Tax
 (In thousands)
Balance at December 31, 2021$1,348 
Reduction to tax positions related to prior years— 
Balance at December 31, 2022$1,348 
Reductions to tax positions related to prior years— 
Balance at December 31, 2023$1,348 
Reductions to tax positions due to lapse of statutes of limitations(1,348)
Additions to tax positions related to prior years$834 
Balance at December 31, 2024$834 
Summary of Operating Loss Carryforwards [Table Text Block] Such loss carryforwards will expire as follows:
FederalStateForeignTotal
 (In thousands)
2025$— $318,676 $471 $319,147 
2026— 354,652 942 355,594 
2027— 189,456 981 190,437 
2028— 234,560 3,075 237,635 
Thereafter— 1,255,198 1,134 1,256,332 
Total loss carryforwards$— $2,352,542 $6,603 $2,359,145 
In addition to the above loss carryforwards, we have $2.2 million of foreign alternative minimum tax credits that can be carried forward indefinitely.
Summary of Valuation Allowance [Table Text Block]
At December 31, 2024, our loss and tax credit carryforward deferred tax assets and related valuation allowances by jurisdiction are as follows (presented net of federal benefit).
FederalState ForeignTotal
  (In thousands) 
Loss and tax credit carryforwards$— $108,973 $4,630 $113,603 
Valuation allowance$— $84,469 $14,856 $99,325