Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Provision

The components of our consolidated income tax provision from continuing operations are as follows.

Income tax provision
	Years Ended December 31,
(In thousands)	2021		2020		2019
Current provision (benefit)	$	2,368	$	(16,264)	$	19,522
Deferred provision	161,793		102,079		157,162
Total income tax provision	$	164,161	$	85,815	$	176,684

Reconciliation of Taxes at Statutory Rate to Provision (Benefit) for Income Taxes

The reconciliation of taxes computed at the statutory tax rate of 21% in 2021, 2020 and 2019 to the provision for income taxes is as follows.

Reconciliation of provision for income taxes
	Years Ended December 31,
(In thousands)	2021		2020		2019
Provision for income taxes computed at the statutory tax rate	$	160,615	$	100,683	$	178,289
Change in tax resulting from:
Valuation allowance	5,700		11,290		1,941
Uncertain tax positions	853		(14,784)		1,202
State tax benefit, net of federal impact	(1,714)		(9,062)		(293)
Other, net	(1,293)		(2,312)		(4,455)
Provision for income taxes	$	164,161	$	85,815	$	176,684

Schedule of Components of Deferred Tax Assets and Liabilities

The significant components of our net deferred tax assets and liabilities from continuing operations are summarized as follows.

Deferred tax assets and liabilities
	December 31,
(In thousands)	2021		2020
Deferred tax assets
State income taxes, net of federal impact	$	77,637	$	75,499
Goodwill and intangibles	29,744		32,673
Unearned premiums	23,699		27,703
Accrued expenses	16,584		11,140
Lease liability	11,240		11,214
Loss reserves	6,286		4,578
Other	18,967		25,066
Total deferred tax assets	$	184,157	$	187,873
Deferred tax liabilities
Contingency reserve	$	368,000	$	216,122
Net unrealized gain on investments	31,876		70,057
Depreciation	12,775		13,029
Differences in fair value of financial instruments	7,763		9,087
Other	17,824		15,747
Total deferred tax liabilities	438,238		324,042
Less: Valuation allowance	83,428		77,728
Net deferred tax asset (liability)	$	(337,509)	$	(213,897)

Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending gross unrecognized tax benefits is as follows.

Reconciliation of gross unrecognized tax benefits
	Years Ended December 31,
(In thousands)	2021		2020
Balance at beginning of period	$	20,249	$	37,208
Tax positions related to the current year:
Increases	267		250
Decreases	(858)		(1,788)
Tax positions related to prior years:
Increases	230		16,568
Decreases	—		(171)
Lapses of applicable statute of limitation	—		(31,818)
Balance at end of period	$	19,888	$	20,249