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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Provision for Income Taxes

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

			Years ended December 31,
			2020						2019						2018
Current:
Federal			$	33,495					$	14,850					$	13,486
State			8,918						4,127						3,641
			42,413						18,977						17,127
Deferred:
Federal			(7,177)						4,585						221
State			(1,298)						884						90
			(8,475)						5,469						311
Total tax expense			$	33,938					$	24,446					$	17,438

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,
			2020												2019												2018
Income tax at federal statutory rate			$	27,547					21.0		%				$	19,447					21.0		%				$	15,159					21.0		%
Stock compensation			331						0.3		%				(255)						(0.3)		%				(436)						(0.6)		%
Other permanent items			424						0.3		%				737						0.8		%				(667)						(0.8)		%
Change in valuation allowance			(207)						(0.2)		%				276						0.3		%				312						0.4		%
Change in uncertain tax positions			65						0.1		%				67						0.1		%				969						1.3		%
State income taxes, net of federal benefit			5,778						4.4		%				4,174						4.5		%				2,911						4.0		%
Rate impact of the Tax Act			—						—		%				—						—		%				(810)						(1.1)		%
Total tax expense			$	33,938					25.9		%				$	24,446					26.4		%				$	17,438					24.2		%

Net Deferred Tax Asset or Liability

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

			As of December 31,
			2020						2019
Deferred Tax Assets
Long-term
Accrued liabilities and allowances			$	9,106					$	5,140
Allowance for doubtful accounts			987						514
Inventories			402						437
Property and equipment			280						303
Intangibles			6,582						5,615
Net operating loss carryforwards			1,206						1,240
Other			16						5
Long-term deferred tax assets			18,579						13,254
Less: Valuation allowance			(1,263)						(1,512)
Net deferred tax assets			17,316						11,742
Deferred Tax Liabilities
Long-term
Accrued liabilities and allowances			(151)						(252)
Property and equipment			(4,587)						(4,176)
Intangibles			(4,810)						(4,307)
Investment in partnership			(6,660)						(11,857)
Other			(650)						(325)
Long-term deferred tax liabilities			(16,858)						(20,917)
Net deferred tax assets (liabilities)			$	458					$	(9,175)

Rollforward of Gross Unrecognized Tax Benefits

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

Unrecognized tax benefit, January 1, 2018			$	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, 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, Unrecognized tax benefit, December 31, 2019			$	5,717
Increase as a result of tax positions taken during the period			3,822
Decrease as a result of tax positions taken during the period			(2,873)
Increase as a result of expiring statutes			10
Unrecognized tax benefit, Unrecognized tax benefit, December 31, 2020			$	6,676

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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 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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