Schedule of income tax expense (benefit) and deferred tax |
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
2023 |
|
2022 |
|
2021 |
Income before income taxes: |
|
|
|
|
|
|
|
|
|
U.S. |
|
$ |
808,217 |
|
$ |
724,231 |
|
$ |
429,731 |
Foreign |
|
|
17,266 |
|
|
17,904 |
|
|
3,712 |
Total |
|
$ |
825,483 |
|
$ |
742,135 |
|
$ |
433,443 |
Income tax expense (benefit): |
|
|
|
|
|
|
|
|
|
Current: |
|
|
|
|
|
|
|
|
|
U.S. Federal |
|
$ |
166,175 |
|
$ |
136,013 |
|
$ |
88,930 |
State and local |
|
|
46,631 |
|
|
39,978 |
|
|
22,006 |
Foreign |
|
|
7,193 |
|
|
3,406 |
|
|
1,039 |
Deferred: |
|
|
|
|
|
|
|
|
|
U.S. Federal |
|
|
(5,307) |
|
|
7,016 |
|
|
(4,123) |
State and local |
|
|
(1,253) |
|
|
(510) |
|
|
1,769 |
Foreign |
|
|
(2,210) |
|
|
243 |
|
|
(194) |
|
|
$ |
211,229 |
|
$ |
186,146 |
|
$ |
109,427 |
Deferred tax assets at December 31: |
|
|
|
|
|
|
|
|
|
Receivables, net |
|
$ |
6,089 |
|
$ |
5,114 |
|
|
|
Inventories |
|
|
6,558 |
|
|
6,989 |
|
|
|
Other assets, principally share-based compensation |
|
|
2,362 |
|
|
3,409 |
|
|
|
Accrued liabilities |
|
|
21,073 |
|
|
18,980 |
|
|
|
Lease liability |
|
|
16,887 |
|
|
13,212 |
|
|
|
Long-term liabilities |
|
|
11,925 |
|
|
10,934 |
|
|
|
Long-term lease liability |
|
|
37,515 |
|
|
35,451 |
|
|
|
Net operating loss carryforward |
|
|
1,254 |
|
|
6,655 |
|
|
|
|
|
|
103,663 |
|
|
100,744 |
|
|
|
Deferred tax liabilities at December 31: |
|
|
|
|
|
|
|
|
|
Right of use assets |
|
|
52,441 |
|
|
49,120 |
|
|
|
Property and equipment, net |
|
|
46,350 |
|
|
46,031 |
|
|
|
Intangibles, net |
|
|
246,343 |
|
|
254,101 |
|
|
|
Other |
|
|
2,459 |
|
|
2,973 |
|
|
|
|
|
|
347,593 |
|
|
352,225 |
|
|
|
Net deferred tax liability at December 31 |
|
$ |
243,930 |
|
$ |
251,481 |
|
|
|
|