Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Components Of Income Tax Expense Benefit Continuing Operations [Abstract]

The provision for income taxes consists of the following (in thousands):

	Year Ended December 31,
	2020			2019			2018
Current taxes:
Federal	$	143,859		$	123,802		$	89,971
State		42,705			30,464			36,070
Foreign		(236	)		1,684			99
		186,328			155,950			126,140
Deferred taxes:
Federal		(31,019	)		(7,027	)		11,932
State		(5,803	)		4,266			2,267
Foreign		(1,818	)		(4,037	)		55
		(38,640	)		(6,798	)		14,254
Provision for income taxes	$	147,688		$	149,152		$	140,394

Reconciliation Of The Statutory Federal Income Tax With The Company's Effective Tax Rate

Reconciliation of the statutory federal income tax rate with our company’s effective income tax rate is as follows (in thousands):

	Year Ended December 31,
	2020			2019			2018
Statutory rate	$	136,744		$	125,485		$	112,215
State income taxes, net of federal income tax		27,934			28,333			30,762
Change in uncertain tax position		666			2,661			(617	)
Foreign tax rate difference		(2,032	)		(629	)		(318	)
Excess tax benefit from stock-based compensation		(21,605	)		(9,670	)		(3,700	)
Revaluation of deferred tax assets		—			—			(3,006	)
Other, net		5,981			2,972			5,058
	$	147,688		$	149,152		$	140,394

Deferred Tax Assets And Liabilities

Tax effect of temporary differences and carryforwards that comprise significant portions of deferred tax assets and liabilities (in thousands):

	December 31,
	2020			2019
Deferred tax assets:
Lease liabilities	$	211,524		$	181,607
Deferred compensation		79,068			80,389
Accrued expenses		73,835			26,166
Receivable reserves		41,963			33,199
Net operating loss carryforwards		32,727			28,781
Other		3,311			3,210
Total deferred tax assets		442,428			353,352
Valuation allowance		(11,740	)		(5,042	)
		430,688			348,310
Deferred tax liabilities:
Lease ROU asset		(210,670	)		(180,598	)
Goodwill and other intangibles		(51,189	)		(46,625	)
Depreciation		(15,371	)		(7,231	)
Unrealized gain on investments		(11,585	)		(5,619	)
Prepaid expenses		(5,396	)		(3,857	)
		(294,211	)		(243,930	)
Net deferred tax asset	$	136,477		$	104,380

Unrecognized Tax Benefits

The following table summarizes the activity related to our company’s unrecognized tax benefits from January 1, 2018 to December 31, 2020 (in thousands):

	Year Ended December 31,
	2020			2019			2018
Beginning balance	$	3,387		$	312		$	3,180
Increase related to prior year tax positions		977			2,173			4
Decrease related to prior year tax positions		(11	)		(54	)		(33	)
Increase related to current year tax positions		790			956			191
Decrease related to settlements with taxing authorities		(1,181	)		—			(3,030	)
Ending balance	$	3,962		$	3,387		$	312