Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Earning Before Income Taxes and Related Income Tax Expenses

The following table presents the U.S. and foreign components of earnings before income taxes and the related income tax expense (in thousands):

	Years Ended December 31,
	2022		2021		2020
Earnings before income taxes:
United States	$	274,415	$	200,657	$	154,788
Foreign	100,018		91,900		73,664
	$	374,433	$	292,557	$	228,452
Income tax expense:
Current:
U.S. Federal	$	61,245	$	29,478	$	38,732
U.S. State and local	15,788		7,391		8,203
Foreign	26,043		24,485		22,123
	103,076		61,354		69,058
Deferred:
U.S. Federal	(7,267)		11,104		(10,048)
U.S. State and local	(1,153)		3,239		(1,779)
Foreign	(831)		(2,485)		(1,419)
	(9,251)		11,858		(13,246)
	$	93,825	$	73,212	$	55,812

Schedule Reconciles Difference Between U.S. Federal Income Taxes at U.S. Statutory Rate and Our Income Tax Expense

The following schedule reconciles the differences between the U.S. federal income taxes at the U.S. statutory rate and our income tax expense (dollars in thousands):

	2022				2021				2020
Statutory federal income tax rate	$	78,631	21.0	%	$	61,437	21.0	%	$	47,975	21.0	%
State income tax expense, net of federal income tax benefit	13,962		3.7		10,666		3.6		6,280		2.7
Audits and adjustments, net	2,273		0.6		2,131		0.7		662		0.3
Change in valuation allowances	(2,551)		(0.7)		1,317		0.5		476		0.2
Foreign income taxed at different rates	5,660		1.5		4,308		1.5		3,825		1.7
Research and other credits	(3,870)		(1.0)		(4,352)		(1.5)		(1,858)		(0.8)
Other, net	(280)		—		(2,295)		(0.8)		(1,548)		(0.7)
Effective tax rate	$	93,825	25.1	%	$	73,212	25.0	%	$	55,812	24.4	%

Significant Components of Deferred Tax Assets and Liabilities

The significant components of deferred tax assets and liabilities are as follows (in thousands):

	December 31,
	2022		2021
Deferred tax assets:
Net operating losses	$	24,571	$	25,791
Foreign tax credits	10,681		13,518
Other	37,315		27,445
Gross deferred tax assets	72,567		66,754
Valuation allowances	(32,546)		(36,948)
Total deferred tax assets	40,021		29,806
Deferred tax liabilities:
Goodwill and other intangibles	(38,593)		(49,987)
Property and equipment	(26,905)		(19,351)
Other	(1,744)		(1,852)
Total deferred tax liabilities	(67,242)		(71,190)
Net deferred tax liabilities	$	(27,221)	$	(41,384)

Net Non-Current Deferred Tax Assets and Liabilities

The net non-current deferred tax assets and liabilities are as follows (in thousands):

	December 31,
	2022		2021
Net non-current deferred tax assets, which are included in "Other assets"	$	5,623	$	5,689
Net non-current deferred tax liabilities	(32,844)		(47,073)
Net deferred tax liabilities	$	(27,221)	$	(41,384)