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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Components of Income (Loss) Before Taxes from Continuing Operations
The components of income before taxes consisted of the following for the years ended December 31 (in thousands):
202420232022
Domestic$167,870 $149,348 $112,635 
Foreign6,055 (356)(1,145)
Income before taxes$173,925 $148,992 $111,490 
Summary of Provision for Income Taxes for Continuing Operations
The provision for income taxes for the years ended December 31 consisted of the following (in thousands):
202420232022
Current:
U.S. Federal$28,126 $21,579 $17,014 
State7,838 6,048 5,647 
Foreign1,103 32 86 
Total current37,067 27,659 22,747 
Deferred:
U.S. Federal(440)8,617 5,259 
State(244)2,112 1,381 
Foreign202 71 (303)
Total deferred(482)10,800 6,337 
Provision for income taxes$36,585 $38,459 $29,084 
Provision for Income Taxes from Continuing Operations Differs from the Federal Statutory Rate
The provision for income taxes differs from the federal statutory rate of 21% due to the following for the years ended December 31 (in thousands, except for percentages) :
 202420232022
Statutory rate$36,524 21.0 %$31,288 21.0 %$23,413 21.0 %
State taxes, less federal effect5,990 3.5 %6,446 4.3 %5,541 5.0 %
Federal tax credits(2,194)(1.3)%(787)(0.5)%(549)(0.5)%
Excess tax benefit on stock based compensation(292)(0.2)%(203)(0.1)%(214)(0.2)%
Executive compensation1,756 1.0 %1,369 0.9 %960 0.9 %
Valuation allowance(6,027)(3.5)%— — %— — %
Other828 0.5 %346 0.2 %(67)(0.1)%
$36,585 21.0 %$38,459 25.8 %$29,084 26.1 %
Deferred Tax Liabilities (Assets)
Deferred tax liabilities at December 31 consisted of the following (in thousands):
20242023
Depreciation$13,523 $13,838 
Goodwill69,155 65,967 
Operating leases11,265 11,325 
Intangible assets— 1,919 
Other1,890 1,847 
Gross deferred tax liabilities95,833 94,896 
Capitalized research and development costs(8,184)(6,286)
Equity compensation(7,148)(6,907)
Operating leases(11,670)(11,678)
Intangible assets(854)— 
Capital loss carryforward(19,392)(26,527)
Warranty reserves(3,901)(1,790)
Other(7,476)(11,215)
Gross deferred tax assets(58,625)(64,403)
Valuation allowances19,434 26,593 
Deferred tax assets, net of valuation allowances(39,191)(37,810)
Net deferred tax liabilities$56,642 $57,086 
Summary of Valuation Allowance
The following sets forth a reconciliation of the beginning and ending amount of the Company’s valuation allowance (in thousands):
202420232022
Balance as of January 1$26,593 $26,488 $26,581 
Cost charged to the tax provision11 105 10 
Reductions(7,170)— (103)
Balance as of December 31$19,434 $26,593 $26,488