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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Provision for Income Taxes

The provision for income taxes is comprised of (in thousands):

		Years ended December 31,
		2019				2018				2017
Current:
Federal		$	14,850			$	13,486			$	17,557
State			4,127				3,641				3,302
			18,977				17,127				20,859
Deferred:
Federal			4,585				221				(5,895	)
State			884				90				(284	)
			5,469				311				(6,179	)
Total tax expense		$	24,446			$	17,438			$	14,680

Reconciliation Between Effective Tax Rate on Net Income (Loss) and Federal Statutory Tax Rate

The reconciliation between our effective tax rate on net income and the federal statutory rate is as follows (dollars in thousands):

		Years ended December 31,
		2019								2018								2017
Income tax at federal statutory rate		$	19,447				21.0	%		$	15,159				21.0	%		$	19,537				35.0	%
Stock compensation			(255	)			(0.3	%)			(436	)			(0.6	%)			(581	)			(1.0	%)
Qualified Production Activity Deduction			—				0.0	%			—				0.0	%			(1,715	)			(3.1	%)
Other permanent items			737				0.8	%			(667	)			(0.8	%)			197				0.4	%
Change in valuation allowance			276				0.3	%			312				0.4	%			285				0.5	%
Change in uncertain tax positions			67				0.1	%			969				1.3	%			(1,807	)			(3.2	%)
State income taxes, net of federal benefit			4,174				4.5	%			2,911				4.0	%			2,150				3.8	%
Rate impact of the Tax Act			—				0.0	%			(810	)			(1.1	%)			(3,386	)			(6.1	%)
Total tax expense		$	24,446				26.4	%		$	17,438				24.2	%		$	14,680				26.3	%

Net Deferred Tax Asset or Liability

Components of the net deferred tax asset or liability are as follows (in thousands):

		As of December 31,
		2019				2018
Deferred Tax Assets
Long-term
Accrued reserves and allowances		$	5,140			$	4,245
Allowance for doubtful accounts			514				500
Inventories			437				335
Property and equipment			303				—
Intangibles			5,615				4,937
Net operating loss carryforwards			1,240				1,446
Other			5				4
Long-term deferred tax assets			13,254				11,467
Less: Valuation allowance			(1,512	)			(1,255	)
Net deferred tax assets			11,742				10,212
Deferred Tax Liabilities
Long-term
Accrued reserves and allowances			(252	)			(365	)
Property and equipment			(4,176	)			(2,091	)
Intangibles			(4,307	)			(3,850	)
Investment in partnership			(11,857	)			(10,266	)
Other			(325	)			(242	)
Long-term deferred tax liabilities			(20,917	)			(16,814	)
Net deferred tax liabilities		$	(9,175	)		$	(6,602	)

Rollforward of Gross Unrecognized Tax Benefits

A rollforward of the gross unrecognized tax benefits is as follows (in thousands):

Unrecognized tax benefit, January 1, 2017		$	4,097
Increase as a result of tax positions taken during the period			4,353
Decrease as a result of tax positions taken during the period			(2,311	)
Decrease as a result of expiring statutes			(1,689	)
Unrecognized tax benefit, December 31, 2017		$	4,450
Increase as a result of tax positions taken during the period			3,846
Decrease as a result of tax positions taken during the period			(2,850	)
Decrease as a result of expiring statutes			(97	)
Unrecognized tax benefit, December 31, 2018		$	5,349
Increase as a result of tax positions taken during the period			2,866
Decrease as a result of tax positions taken during the period			(2,482	)
Decrease as a result of expiring statutes			(16	)
Unrecognized tax benefit, December 31, 2019		$	5,717

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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.

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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.

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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.

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