Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The provision for income taxes consists of the following for the years ended December 31:

(in thousands)
	2021		2020		2019
Current income tax expense	$	80,398	$	80,373	$	76,535
Deferred income tax (benefit) expense	(1,854)		(5,162)		3,349
Income tax expense	$	78,544	$	75,211	$	79,884

Schedule of Reconciliation of the Provision for Income Taxes, with Amounts Determined by Applying the Statutory Federal Income Tax Rate to Pre-Tax Income

A reconciliation of the provision for income taxes, with amounts determined by applying the statutory federal income tax rate to pre-tax income, is as follows for the years ended December 31:

(in thousands)
	2021		2020		2019
Income tax at statutory rate	$	79,045	$	77,388	$	83,308
Tax-exempt interest	—		—		(123)
Decrease in unrecognized tax benefits	—		—		(3,088)
Other, net	(501)		(2,177)		(213)
Income tax expense	$	78,544	$	75,211	$	79,884

Schedule of Temporary Differences and Carry-Forwards, which Give Rise to Deferred Tax Assets and Liabilities

Temporary differences and carry-forwards, which give rise to deferred tax assets and liabilities, are as follows as of December 31:

(in thousands)
	2021		2020
Deferred tax assets:
Pension and other postretirement benefits	$	21,545	$	29,065
Other employee benefits	15,273		14,544
Deferred revenue	3,963		3,872
Allowance for management fee returned on cancelled policies	3,330		3,515
Unrealized losses on investments	—		1,083
Other	3,484		2,692
Total deferred tax assets	47,595		54,771
Deferred tax liabilities:
Depreciation	35,204		29,978
Unrealized gains on investments	8,713		7,540
Prepaid expenses	2,458		3,800
Other	1,075		1,112
Total deferred tax liabilities	47,450		42,430
Net deferred tax asset	$	145	$	12,341

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of unrecognized tax benefits for the years ended December 31 is as follows:

(in thousands)
	2021		2020		2019
Balance at the beginning of the year	$	0	$	0	$	3,088
Additions for prior year tax positions	—		—		4,631
Reductions for prior year tax positions	—		—		(7,719)
Balance at the end of the year	$	0	$	0	$	0