Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

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)	2023		2022		2021
Current provision (benefit)	$	(633)	$	2,920	$	2,368
Deferred provision	165,001		206,925		161,793
Total income tax provision	$	164,368	$	209,845	$	164,161

Schedule of 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 2023, 2022 and 2021 to the provision for income taxes is as follows.

Reconciliation of provision for income taxes
	Years Ended December 31,
(In thousands)	2023		2022		2021
Provision for income taxes computed at the statutory tax rate	$	161,172	$	200,084	$	160,615
Change in tax resulting from:
State tax provision (benefit), net of federal impact	8,988		20,869		(1,714)
Valuation allowance	(6,283)		(13,791)		5,700
Other, net	491		2,683		(440)
Provision for income taxes	$	164,368	$	209,845	$	164,161

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)	2023		2022
Deferred tax assets
Net unrealized loss on investments	$	88,065	$	121,497
State income taxes	46,170		54,946
Goodwill and intangibles	29,197		30,782
Unearned premiums	24,948		26,108
Capitalized research and development	12,450		4,740
Accrued expenses	10,829		11,913
Lease liability	9,386		10,371
Differences in fair value of financial instruments	2,840		5,998
Loss reserves	2,805		3,102
Other	28,196		30,673
Total deferred tax assets	$	254,886	$	300,130
Deferred tax liabilities
Contingency reserve	$	755,481	$	587,722
Depreciation	5,795		10,031
Other	19,820		23,823
Total deferred tax liabilities	781,096		621,576
Less: Valuation allowance	63,354		69,637
Net deferred tax asset (liability)	$	(589,564)	$	(391,083)

Schedule of 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)	2023		2022
Balance at beginning of period	$	20,810	$	19,888
Tax positions related to the current year:
Increases	314		1,791
Decreases	(290)		—
Tax positions related to prior years:
Increases	20,387		17,666
Decreases	(667)		(17)
Lapses of applicable statute of limitation	(20,623)		(18,518)
Balance at end of period	$	19,931	$	20,810