XML 57 R41.htm IDEA: XBRL DOCUMENT v3.20.4

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of provision for income taxes from operations

The provision for income taxes from operations consisted of the following: 

			Years Ended December 31,
(in thousands)			2020						2019						2018
Current
Federal			$	42,337					$	28,314					$	27,410
State			12,571						7,465						9,515
Foreign			4,478						6,039						4,605
Deferred			0
Federal			2,330						3,329						3,179
State			598						805						263
Foreign			250						(1,577)						523
			$	62,564					$	44,375					$	45,495

Schedule of income and loss from operations before income taxes

Income and loss from operations before income taxes for the years ended December 31, 2020, 2019, and 2018, respectively, consisted of the following:

			Years Ended December 31,
(in thousands)			2020						2019						2018
Domestic			$	238,320					$	163,257					$	169,109
Foreign			11,244						15,100						3,019
			$	249,564					$	178,357					$	172,128

Schedule of effective income tax rates reconciliations

between the statutory federal income tax rates and the Company’s effective income tax rates as a percentage of income before income taxes for its operations were as follows:

			Years Ended December 31,
(in thousands)			2020						2019						2018
Federal tax rate			21.0		%				21.0		%				21.0		%
State taxes, net of federal benefit			4.2		%				3.6		%				4.5		%
Change in valuation allowance			0.1		%				(0.1)		%				1.3		%
True-up of prior year tax returns to tax provision			(0.4)		%				(0.3)		%				(1.2)		%
Difference between U.S. statutory and foreign local tax rates			0.4		%				0.8		%				0.5		%
Change in uncertain tax position			—		%				0.1		%				(0.1)		%
Other			(0.2)		%				(0.2)		%				0.4		%
Effective income tax rate			25.1		%				24.9		%				26.4		%

Schedule of deferred tax assets and liabilities

The tax effects of the significant temporary differences that constitute the deferred tax assets and liabilities at December 31, 2020 and 2019, respectively, were as follows:

			December 31,
(in thousands)			2020						2019
Deferred asset taxes
State tax			$	1,076					$	721
Workers’ compensation			883						828
Health claims			1,207						775
Vacation liability			374						341
Allowance for doubtful accounts			384						324
Inventories			6,108						4,275
Sales incentive and advertising allowances			1,086						1,150
Lease obligations			11,631						8,812
Stock-based compensation			2,148						2,695
Unrealized foreign exchange gain or loss			344						327
Foreign tax credit carryforwards			4,744						4,945
Uncertain tax positions’ unrecognized tax benefits			77						68
Foreign tax loss carry forward			7,717						7,763
Other			—						1,026
			$	37,779					$	34,050
Less valuation allowances			(11,316)						(11,617)
Total deferred asset taxes			$	26,463					$	22,433
Deferred tax liabilities
Depreciation			$	(12,933)					$	(10,416)
Goodwill and other intangibles amortization			(15,642)						(13,737)
Tax effect on cumulative translation adjustment			(568)						(523)
Right of use assets			(11,489)						(8,764)
Other			(247)						—
Total deferred tax liabilities			(40,879)						(33,440)
Total Deferred tax asset/(liability)			$	(14,416)					$	(11,007)

Schedule of reconciliation of unrecognized tax benefits, including foreign translation amount

A reconciliation of the beginning and ending amounts of unrecognized tax benefits in 2020, 2019 and 2018, respectively, was as follows, including foreign translation amounts:

Reconciliation of Unrecognized Tax Benefits			2020						2019						2018
Balance at January 1			$	1,706					$	1,757					$	1,895
Additions based on tax positions related to prior years			78						8						—
Reductions based on tax positions related to prior years			(7)						(30)						(171)
Additions for tax positions of the current year			48						167						100
Lapse of statute of limitations			(657)						(196)						(67)
Balance at December 31			$	1,168					$	1,706					$	1,757

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319

+ Details

Name:	us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration