INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Company’s income tax provision

The Company’s income tax provision consisted of the following:

INCOME TAXES

For the years ended December 31,	2020			2019			2018
(in thousands)
Current:
Federal	$	67,861		$	43,593		$	49,911
State		18,381			15,337			13,602
Foreign		8,869			6,111			7,929
Total current tax		95,111			65,041			71,442
Deferred:
Federal		(2,076	)		(5,217	)		6,091
State		312			(1,518	)		1,957
Foreign		549			(493	)		(420	)
Total deferred tax		(1,215	)		(7,228	)		7,628
Total income tax provision	$	93,896		$	57,813		$	79,070

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

The primary factors causing income tax expense to be different than the federal statutory rate for 2020, 2019 and 2018 are as follows:

For the years ended December 31,	2020			2019			2018
(in thousands)
Income tax at statutory rate	$	74,491		$	54,845		$	65,254
State income tax expense (net of federal benefit)		14,393			10,182			12,984
Foreign tax expense		2,341			933			1,186
Foreign tax credit		(240	)		(242	)		(234	)
Repatriation tax under TCJA		—			(844	)		1,233
Pension settlement		—			(10,537	)		—
Executive compensation		5,557			2,445			2,165
Restricted stock adjustments		(3,927	)		(2,973	)		(4,420	)
Other		1,281			4,004			902
Total income tax provision	$	93,896		$	57,813		$	79,070

Significant components of the Company’s deferred tax assets and liabilities

Deferred income taxes reflect the net tax effects of the temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and income tax purposes. Significant components of the Company’s deferred tax assets and liabilities at December 31, 2020 and 2019 are as follows:

INCOME TAXES (Details 3)

December 31,	2020			2019
(in thousands)
Deferred tax assets:
Termite accrual	$	721		$	786
Insurance and contingencies		19,531			18,464
Unearned revenues		11,825			11,506
Compensation and benefits		12,304			11,983
State and foreign operating loss carryforwards		2,768			3,939
Bad debt reserve		4,214			4,312
Foreign tax credit		3,804			3,972
Other		2,519			2,439
Valuation allowance		(144	)		(83	)
Total deferred tax assets		57,542			57,318
Deferred tax liabilities:
Depreciation and amortization		(25,730	)		(24,981	)
Net pension liability		(727	)		(5,279	)
Intangibles and other		(39,475	)		(34,805	)
Total deferred tax liabilities	$	(65,932	)	$	(65,065	)
Net deferred taxes
Deferred tax assets	$	2,222		$	2,180
Deferred tax liabilities	$	(10,612	)	$	(9,927	)

Analysis of the valuation allowance

Analysis of the valuation allowance:

INCOME TAXES (Details 4)

December 31,	2020		2019
(in thousands)
Valuation allowance at beginning of year	$	83	$	76
Increase in valuation allowance		61		7
Valuation allowance at end of year	$	144	$	83

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:

INCOME TAXES (Details 5)

December 31,	2020		2019
(in thousands)
Unrecognized tax benefits at beginning of year	$	844	$	2,554
Additions for tax positions of prior years		—		844
Reductions for tax positions of prior years		—		(2,554	)
Unrecognized tax benefits at end of year	$	844	$	844