XML 51 R37.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of income before income taxes by geographical area | Income before income taxes by geographic area was, for the years ended December 31:
(in thousands) |  | 2021 |  | 2020 |  | 2019
Federal |  | $ | 106,956 |  |  | $ | 77,195 |  |  | $ | 46,445 |
Foreign |  | 9,350 |  |  | 4,190 |  |  | 3,997 |
|  | $ | 116,306 |  |  | $ | 81,385 |  |  | $ | 50,442 |
Schedule of income tax expense | Income tax expense consisted of the following for the years ended December 31:
(in thousands) |  | 2021 |  | 2020 |  | 2019
Current |  |  |  |  |  |
Federal |  | $ | 16,512 |  |  | $ | 19,014 |  |  | $ | 6,976 |
Foreign |  | 1,947 |  |  | — |  |  | — |
State |  | 6,560 |  |  | 6,363 |  |  | 3,562 |
|  | 25,019 |  |  | 25,377 |  |  | 10,538 |
Deferred |  |  |  |  |  |
Federal |  | 5,061 |  |  | (2,519) |  |  | 3,010 |
Foreign |  | 287 |  |  | 963 |  |  | 874 |
State |  | 933 |  |  | (1,195) |  |  | (194) |
|  | 6,281 |  |  | (2,751) |  |  | 3,690 |
Income tax expense |  | $ | 31,300 |  |  | $ | 22,626 |  |  | $ | 14,228 |
Schedule of effective tax rate reconciliation | The differences between the U.S. federal statutory tax rate and the Company’s effective tax rate for operations were as follows for the years ended December 31:
|  | 2021 |  | 2020 |  | 2019
U.S federal statutory rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State income taxes, net of U.S. federal income tax expense |  | 4.7 |  |  | 5.0 |  |  | 4.7 |
Change in valuation allowance |  | — |  |  | 0.1 |  |  | (0.3) |
Tax differential on foreign earnings |  | 0.5 |  |  | 0.3 |  |  | 0.4 |
Non-deductible meals and entertainment |  | 0.1 |  |  | 0.4 |  |  | 0.8 |
Stock compensation excess tax benefits |  | (0.8) |  |  | (0.6) |  |  | 0.1 |
Uncertain tax positions |  | — |  |  | 0.3 |  |  | (0.4) |
Provision to return adjustments, net |  | 0.4 |  |  | 0.4 |  |  | 0.2 |
Global intangible low tax income |  | — |  |  | 0.9 |  |  | 0.3 |
Section 162(m) limitation |  | 1.1 |  |  | 0.5 |  |  | 0.3 |
Non-controlling interest |  | — |  |  | — |  |  | 0.9 |
Other income, net |  | (0.1) |  |  | (0.5) |  |  | 0.2 |
Effective rate |  | 26.9 | % |  | 27.8 | % |  | 28.2 | %
Schedule of net deferred tax assets and (liabilities) | The net deferred tax assets and (liabilities) arising from temporary differences was as follows at December 31:
(in thousands) |  | 2021 |  | 2020
Deferred income tax assets: |  |  |  |
Self insurance reserves |  | $ | 2,138 |  |  | $ | 4,091 |
Contract loss reserves |  | 541 |  |  | 703 |
Stock-based awards |  | 1,633 |  |  | 1,300 |
Bonus |  | 8,373 |  |  | 6,173 |
Accrued vacation |  | 1,977 |  |  | 1,741 |
Accrued profit sharing |  | 2,665 |  |  | 2,476 |
Operating lease liabilities |  | 5,404 |  |  | 5,715 |
Non-U.S. operating loss |  | 2,520 |  |  | 3,601 |
Other |  | 2,628 |  |  | 4,661 |
Total deferred income tax assets before valuation allowances |  | 27,879 |  |  | 30,461 |
Less: valuation allowances |  | (2,593) |  |  | (2,566) |
Total deferred income tax assets |  | 25,286 |  |  | 27,895 |
Deferred income tax liabilities: |  |  |  |
Property and equipment — tax over book depreciation |  | (36,856) |  |  | (34,439) |
Intangible assets — tax over book amortization |  | (2,913) |  |  | (2,207) |
Right-of-use operating lease assets |  | (5,398) |  |  | (5,702) |
Non-U.S. deferred income tax liabilities |  | — |  |  | (1,322) |
Contract revenue adjustment |  | (4,526) |  |  | (2,128) |
Other |  | (213) |  |  | (436) |
Total deferred income tax liabilities |  | (49,906) |  |  | (46,234) |
Net deferred income taxes |  | $ | (24,620) |  |  | $ | (18,339) |
Schedule of liability for unrecognized tax benefits reconciliation | The following is a reconciliation of the beginning and ending liability for unrecognized tax benefits at December 31:
(in thousands) |  | 2021 |  | 2020
Balance at beginning of period |  | $ | 353 |  |  | $ | 152 |
Gross increases in current period tax positions |  | 45 |  |  | 217 |
Reductions in tax positions due to lapse of statutory limitations |  | (70) |  |  | (16) |
Balance at end of period |  | 328 |  |  | 353 |
Accrued interest and penalties at end of period |  | 72 |  |  | 69 |
Total liability for unrecognized tax benefits |  | $ | 400 |  |  | $ | 422 |

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=121826272&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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=121826272&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=124434304&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration