Income Taxes (Tables)
|
12 Months Ended |
Dec. 31, 2022 |
Income Tax Disclosure [Abstract] |
|
Schedule of Provision For Income Taxes From Continuing Operations |
The provision for income taxes from operations for the years ended December 31, 2022, 2021 and 2020 consists of the following: | | | | | | | | | | | | | | | | | | | Years Ended December 31, | | 2022 | | 2021 | | 2020 | Current income taxes: | | | | | | Federal | $ | 145,217 | | | $ | 98,795 | | | $ | 32,673 | | State | 42,051 | | | 34,025 | | | 9,813 | | Total | 187,268 | | | 132,820 | | | 42,486 | | Deferred income taxes: | | | | | | Federal | (20,173) | | | (12,992) | | | (15,092) | | State | (4,442) | | | (3,295) | | | (6,536) | | Total | (24,615) | | | (16,287) | | | (21,628) | | Provision for income taxes from operations | $ | 162,653 | | | $ | 116,533 | | | $ | 20,858 | |
|
Schedule of Income Tax Reconciliation |
The Company’s income tax expense differs from the amount that would have resulted from applying the federal statutory rate of 21% for 2022, 2021 and 2020 to pretax income from operations because of the effect of the following items during the years ended December 31, 2022, 2021 and 2020: | | | | | | | | | | | | | | | | | | | Years Ended December 31, | | 2022 | | 2021 | | 2020 | Tax expense at federal statutory rate | $ | 127,390 | | | $ | 93,223 | | | $ | 19,220 | | State taxes, net of federal benefit | 29,711 | | | 23,990 | | | 4,161 | | Non-deductible expenses | — | | | — | | | 3,621 | | Share-based compensation | (2,383) | | | (1,460) | | | (2,311) | | | | | | | | Unrecognized tax benefit | 3,245 | | | (680) | | | (78) | | Other, net | 4,690 | | | 1,460 | | | (3,755) | | Income tax expense from operations | $ | 162,653 | | | $ | 116,533 | | | $ | 20,858 | |
|
Schedule of Deferred Tax Assets and Liabilities |
The tax effects of temporary differences that give rise to significant portions of deferred tax assets and liabilities are presented below as of December 31, 2022 and 2021: | | | | | | | | | | | | | December 31, | | 2022 | | 2021 | Deferred tax assets: | | | | Share-based compensation | $ | 7,556 | | | $ | 6,954 | | Deferred compensation | 32,962 | | | 30,513 | | Accrued bonus | 22,437 | | | 24,636 | | Accrued payroll taxes | — | | | 6,427 | | Accrued expenses | 30,178 | | | 19,899 | | | | | | Operating lease liabilities | 4,532 | | | 6,472 | | Net operating losses | 5,803 | | | 8,815 | | Loss contingencies | 10,857 | | | 8,528 | | Workers compensation insurance | 6,661 | | | 6,476 | | Other | 3,749 | | | 2,731 | | Total deferred tax assets | $ | 124,735 | | | $ | 121,451 | | Deferred tax liabilities: | | | | Intangibles | $ | (114,967) | | | $ | (126,535) | | Fixed assets | (21,739) | | | (28,824) | | Operating lease right-of-use assets | (4,228) | | | (7,269) | | Other | (6,514) | | | (6,637) | | Total deferred tax liabilities | $ | (147,448) | | | $ | (169,265) | | | | | | Net deferred tax liabilities | $ | (22,713) | | | $ | (47,814) | |
|
Schedule of Unrecognized Tax Benefits |
A summary of the changes in the amount of unrecognized tax benefits (excluding interest and penalties) for 2022, 2021 and 2020 is as follows: | | | | | | | | | | | | | | | | | | | 2022 | | 2021 | | 2020 | Beginning balance of unrecognized tax benefits | $ | 4,067 | | | $ | 4,916 | | | $ | 4,937 | | Additions based on tax positions related to the current year | 1,464 | | | 504 | | | 667 | | Additions based on tax positions of prior years | 1,966 | | | — | | | 255 | | Reductions for tax positions of prior years | — | | | (301) | | | — | | Reductions due to lapse of applicable statute of limitation | (517) | | | (1,052) | | | (943) | | | | | | | | Ending balance of unrecognized tax benefits | $ | 6,980 | | | $ | 4,067 | | | $ | 4,916 | |
|