Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income Before Provision (Benefit) for Income Taxes

Income before provision (benefit) for income taxes consisted of the following:

(in thousands)	Year Ended December 31,
	2021		2020		2019
U.S.	$	121,660	$	131,898	$	129,045
Foreign		96		146		80
	$	121,756	$	132,044	$	129,125

Provision (Benefit) for Income Taxes

The provision (benefit) for income taxes consisted of the following:

(in thousands)	Year Ended December 31,
	2021			2020			2019
Current:
U.S. Federal	$	(1,692	)	$	23,975		$	11,744
State		5,360			6,545			7,353
Foreign		2,035			1,733			1,616
		5,703			32,253			20,713
Deferred:
U.S. Federal		23,433			(755	)		10,719
State		2,896			(1,424	)		895
Foreign		19			(14	)		(8	)
		26,348			(2,193	)		11,606
Total	$	32,051		$	30,060		$	32,319

Reconciliation of U.S. Federal Statutory Tax Rate to Company's Effective Tax Rate

The reconciliation of the U.S. federal statutory tax rate to the Company’s effective tax rate is as follows:

	Year Ended December 31,
	2021			2020			2019
U.S. federal statutory rate		21.0	%		21.0	%		21.0	%
State taxes, net of federal benefit		5.1			4.7			5.0
State deferred tax apportionment change, net of federal benefit		1.6			(1.6	)		0.1
Valuation allowance		0.0			0.0			0.0
Share-based compensation		(2.1	)		(1.4	)		(1.6	)
Enactment of the Tax Cuts and Jobs Act		0.0			(0.3	)		(0.1	)
Other		0.7			0.4			0.6
		26.3	%		22.8	%		25.0	%

Deferred Income Taxes Related to Temporary Differences between Tax Bases of Assets and Liabilities

The following table shows the deferred income taxes related to the temporary differences between the tax bases of assets and liabilities and the respective amounts included in “Deferred income taxes, net” on the Company’s Consolidated Balance Sheets:

(in thousands)	December 31,
	2021		2020
Deferred tax liabilities:
Accelerated depreciation	$	244,141	$	217,125
Prepaid costs currently deductible		6,069		5,039
Other		6,553		5,970
Total deferred tax liabilities		256,763		228,134
Deferred tax assets:
Accrued costs not yet deductible		11,010		9,200
Allowance for doubtful accounts		548		536
Deferred revenues		219		—
Share-based compensation		2,561		2,321
Total deferred tax assets, net of valuation allowance of $0.2 million in 2021 and 2020		14,338		12,057
Deferred income taxes, net	$	242,425	$	216,077