INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

For the years ended December 31, income (loss) from continuing operations before income taxes consisted of the following:

(in thousands)	2023		2022		2021
Income before income taxes
Domestic	$	548,428	$	465,991	$	449,985
Foreign	37,829		32,926		32,500
Total income from continuing operations before income taxes	$	586,257	$	498,917	$	482,485

Schedule of company's income tax provision

For the years ended December 31, the Company’s income tax provision consisted of the following:

	2023		2022		2021
(in thousands)
Current:
Federal	$	112,647	$	92,793	$	87,888
State	33,516		26,786		24,131
Foreign	12,781		9,144		10,480
Total current tax	158,944		128,723		122,499
Deferred:
Federal	(2,349)		(333)		1,735
State	(2,925)		2,011		1,795
Foreign	(2,370)		(83)		(109)
Total deferred tax	(7,644)		1,595		3,421
Total income tax provision	$	151,300	$	130,318	$	125,920

Schedule of primary factors causing income tax expense to be different than the federal statutory rate

The following table presents the principal components of the difference between the effective tax rate and the U.S. federal statutory income tax rate for the years ended December 31,:

	2023		2022		2021
(in thousands)
Income tax at statutory rate	$	123,114	$	104,773	$	101,485
State income tax expense (net of federal benefit)	24,167		22,750		20,482
Foreign tax rate differential	1,948		1,907		2,837
Tax on unremitted earnings	1,408		549		—
Federal tax credits	(1,362)		(616)		(548)
Permanent items	2,239		445		311
Other reconciling items	(214)		510		1,353
Total income tax provision	$	151,300	$	130,318	$	125,920

Schedule of significant components of the Company's deferred tax assets and liabilities

The Company’s deferred tax assets and liabilities as of December 31, 2023 and 2022 are as follows:

	2023		2022
(in thousands)
Deferred tax assets:
Employee compensation and benefits	$	15,451	$	15,547
Unearned revenues	13,998		13,060
Insurance reserves	24,152		19,938
Lease liabilities	90,486		78,389
Non-amortizable intangible assets	6,883		—
Other deferred tax assets	14,944		14,771
Total deferred tax assets	165,914		141,705
Valuation allowance	(6,883)		—
Net deferred tax assets	$	159,031	$	141,705
Deferred tax liabilities:
Fixed assets and depreciation	$	12,430	$	17,999
Intangible assets	81,194		72,752
Right of use assets	81,971		72,767
Other deferred tax liabilities	—		549
Total deferred tax liabilities	$	175,595	$	164,067
Net deferred taxes
Deferred tax assets	2,294		1,792
Deferred tax liabilities	(18,858)		(24,154)
Net deferred taxes	$	(16,564)	$	(22,362)

Schedule of analysis of the valuation allowance

The changes in the Company’s valuation allowance for deferred tax assets are as follows:

(in thousands)
December 31, 2021	$	192
Charged to income tax expense	—
Charged to other accounts	(192)
December 31, 2022	—
Charged to income tax expense	962
Charged to other accounts	5,921
December 31, 2023	$	6,883

Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

December 31,	2023		2022		2021
(in thousands)
Unrecognized tax benefits at beginning of year	$	1,394	$	1,018	$	844
Additions for tax positions of prior years	653		376		174
Reductions for tax positions of prior years	(263)		—		—
Unrecognized tax benefits at end of year	$	1,784	$	1,394	$	1,018