Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

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)	2022		2021		2020
Current provision (benefit)	$	2,920	$	2,368	$	(16,264)
Deferred provision	206,925		161,793		102,079
Total income tax provision	$	209,845	$	164,161	$	85,815

Reconciliation of Taxes Computed at Statutory Rate to Provision for Income Taxes

The reconciliation of taxes computed at the statutory tax rate of 21% in 2022, 2021 and 2020 to the provision for income taxes is as follows.

Reconciliation of provision for income taxes
	Years Ended December 31,
(In thousands)	2022		2021		2020
Provision for income taxes computed at the statutory tax rate	$	200,084	$	160,615	$	100,683
Change in tax resulting from:
State tax provision (benefit), net of federal impact	20,869		(1,714)		(9,062)
Valuation allowance	(13,791)		5,700		11,290
Uncertain tax positions	(1,076)		853		(14,784)
Other, net	3,759		(1,293)		(2,312)
Provision for income taxes	$	209,845	$	164,161	$	85,815

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)	2022		2021
Deferred tax assets
Net unrealized loss on investments	$	121,497	$	—
State income taxes, net of federal impact	58,031		77,637
Goodwill and intangibles	30,782		29,723
Unearned premiums	26,108		23,699
Accrued expenses	11,913		16,584
Lease liability	10,371		11,240
Differences in fair value of financial instruments	5,998		—
Loss reserves	3,102		6,286
Other	32,328		27,932
Total deferred tax assets	$	300,130	$	193,101
Deferred tax liabilities
Contingency reserve	$	587,722	$	368,000
Depreciation	10,031		12,775
Net unrealized gain on investments	—		31,876
Differences in fair value of financial instruments	—		7,763
Other	23,823		26,768
Total deferred tax liabilities	621,576		447,182
Less: Valuation allowance	69,637		83,428
Net deferred tax asset (liability)	$	(391,083)	$	(337,509)

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)	2022		2021
Balance at beginning of period	$	19,888	$	20,249
Tax positions related to the current year:
Increases	1,791		267
Decreases	—		(858)
Tax positions related to prior years:
Increases	17,666		230
Decreases	(17)		—
Lapses of applicable statute of limitation	(18,518)		—
Balance at end of period	$	20,810	$	19,888