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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Taxes

Income before income taxes consisted of:

		For the Year Ended December 31,
($ in thousands)		2021				2020				2019
U.S.		$	77,101			$	6,429			$	33,655
Foreign			(9,200	)			(5,576	)			(2,998	)
Total income before incomes taxes		$	67,901			$	853			$	30,657

Schedule of Income Tax Provision

The income tax provision consisted of the following items:

		For the Year Ended December 31,
($ in thousands)		2021				2020				2019
Current
Federal		$	25,361			$	4,169			$	16,901
State			10,523				5,399				7,316
Foreign			160				652				673
Total current			36,044				10,220				24,890
Deferred
Federal			(7,434	)			(1,308	)			(8,542	)
State			(1,627	)			(2,615	)			(2,092	)
Foreign			(531	)			(866	)			(675	)
Total deferred			(9,592	)			(4,789	)			(11,309	)
Income tax provision		$	26,452			$	5,431			$	13,581

Schedule of Reconciliation to Income Tax Provision

A reconciliation to the income tax provision from the amounts computed by applying the statutory U.S. federal income tax rate is as follows:

		For the Year Ended December 31,
($ in thousands)		2021				2020				2019
Income tax provision at statutory rate		$	14,259			$	179			$	6,438
State income taxes, net of federal income tax effect			6,748				1,188				2,360
Tax rate changes/ valuation of deferred tax items			586				1,353				998
162(m) limitation			1,325				1,179				1,289
Non-deductible expenses			174				1,786				450
Stock-based compensation			(752	)			(38	)			(716	)
Unrecognized tax benefits			174				(929	)			(741	)
Tax impact for change in fair value of warrants			1,596				237				3,416
Change in valuation allowance			1,435				924				317
Non-deductible transaction costs			1,078				19				270
Research and development credits			(125	)			(121	)			(232	)
Other			(46	)			(346	)			(268	)
Total income tax provision		$	26,452			$	5,431			$	13,581

Components of Deferred Income Tax Assets and Liabilities

Significant components of the Company’s deferred income tax assets and liabilities consist of the following at December 31:

($ in thousands)		2021				2020
Deferred tax assets:
Accrued expenses and other		$	7,334			$	1,027
Allowance for credit losses			4,927				4,838
Net operating loss carryforward			18,193				3,626
Interest expense limitation carryforward			5,935				1,070
Federal and state income tax credits			5,295				1,132
ASC 842 operating lease liabilities			9,578				8,679
Transaction costs			446				319
Other			1,042				1,210
Gross deferred tax assets			52,750				21,901
Valuation allowance			(3,785	)			(3,422	)
Deferred tax assets, net of valuation allowance			48,965				18,479
Deferred tax liabilities:
Intangible assets and transaction costs			(62,116	)			(16,358	)
Property and equipment			(13,562	)			(10,285	)
Financing costs			(3,077	)			(3,730	)
Prepaid assets			(1,235	)			(957	)
ASC 842 operating lease assets			(9,104	)			(8,297	)
481(a) adjustment, net			(857	)			—
Gross deferred tax liabilities			(89,951	)			(39,627	)
Total deferred tax liabilities, net		$	(40,986	)		$	(21,148	)

Summary of Activity Related to Unrecognized Tax Benefits

The following table summarizes the activity related to the Company’s unrecognized tax benefits as of December 31:

($ in thousands)		2021				2020
Balance at the beginning of the year		$	953			$	1,735
Increases/(decreases) related to current year tax positions			447				126
Increases/(decreases) related to prior year tax positions			1,478				299
Expiration due to statute of limitations			—				(1,207	)
Balance at the end of the year		$	2,878			$	953

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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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