Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Reconciliation of Effective Tax Rate to Federal Statutory Tax Rate

The following is a reconciliation of our effective tax rate to the federal statutory tax rate:

	Years Ended December 31,
	2023				2022				2021
U.S. federal statutory rate		21.0		%		21.0		%		21.0		%
State taxes, net of federal benefit		0.4				3.5				3.5
Federal and state incentives		(1.9	)			(1.4	)			(0.5	)
State law changes		(0.2	)			0.4				1.1
Permanent differences		0.6				0.2				0.6
Net effective rate		19.9		%		23.7		%		25.7		%

Summary of Provision for Income Taxes

The following is a summary of our provision for income taxes (in thousands):

	Years Ended December 31,
	2023			2022			2021
Current
Federal	$	34,951		$	85,831		$	51,918
State and local		(1,191	)		25,162			13,876
Foreign		55			32			38
		33,815			111,025			65,832
Deferred
Federal		8,305			7,366			(5,125	)
State and local		(432	)		(7,388	)		(1,254	)
Foreign		(12	)		7			(17	)
		7,861			(15	)		(6,396	)
Total provision	$	41,676		$	111,010		$	59,436

Summary of Deferred Tax Assets and Liabilities

The following is a summary of our deferred tax assets and liabilities (in thousands):

	December 31,
	2023			2022
Accrued compensation		9,884			21,035
Other reserves		32,060			30,588
Tax credit carryforwards		6,533			8,156
Operating loss carryforwards		151			166
Lease accounting liability		44,440			29,185
Total gross deferred income taxes		93,068			89,130
Valuation allowances		(1,174	)		(1,567	)
Total deferred tax assets		91,894			87,563
Prepaids		(6,444	)		(6,077	)
Property and equipment		(153,790	)		(156,961	)
Intangibles		(53,759	)		(54,796	)
Lease right-of-use asset		(41,668	)		(25,652	)
Total deferred tax liabilities		(255,661	)		(243,486	)
Total deferred taxes	$	(163,767	)	$	(155,923	)

Unrecognized Tax Benefits

	2023			2022
Gross unrecognized tax benefits - beginning of the year	$	11,116		$	6,647
Gross increases related to prior year tax positions		761			425
Gross increases related to current year tax positions		1,460			4,665
Lapse of applicable statute of limitations		(478	)		(621	)
Gross unrecognized tax benefits - end of year	$	12,859		$	11,116