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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

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)						2022						2021						2020
Federal						$	104,185					$	106,956					$	77,195
Foreign						10,019						9,350						4,190
						$	114,204					$	116,306					$	81,385

Schedule of income tax expense

Income tax expense consisted of the following for the years ended December 31:

(in thousands)						2022						2021						2020
Current
Federal						$	13,948					$	16,512					$	19,014
Foreign						2,148						1,947						—
State						5,154						6,560						6,363
						21,250						25,019						25,377
Deferred
Federal						7,739						5,061						(2,519)
Foreign						465						287						963
State						1,369						933						(1,195)
						9,573						6,281						(2,751)
Income tax expense						$	30,823					$	31,300					$	22,626

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:

						2022						2021						2020
U.S federal statutory rate						21.0		%				21.0		%				21.0		%
State income taxes, net of U.S. federal income tax expense						4.5						4.7						5.0
Change in valuation allowance						—						—						0.1
Tax differential on foreign earnings						0.6						0.5						0.3
Non-deductible meals and entertainment						0.2						0.1						0.4
Stock compensation excess tax benefits						(2.4)						(0.8)						(0.6)
Uncertain tax positions						0.1						—						0.3
Provision to return adjustments, net						0.7						0.4						0.4
Global intangible low tax income						—						—						0.9
Section 162(m) limitation						2.4						1.1						0.5
Other income, net						(0.1)						(0.1)						(0.5)
Effective rate						27.0		%				26.9		%				27.8		%

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)						2022						2021
Deferred income tax assets:
Self-insurance reserves						$	2,979					$	2,138
Contract loss reserves						842						541
Stock-based awards						2,071						1,633
Bonus						8,656						8,373
Accrued vacation						2,227						1,977
Accrued profit sharing						2,030						2,665
Operating lease liabilities						6,691						5,404
Non-U.S. operating loss						2,402						2,520
Other						1,112						2,628
Total deferred income tax assets before valuation allowances						29,010						27,879
Less: valuation allowances						(2,402)						(2,593)
Total deferred income tax assets						26,608						25,286
Deferred income tax liabilities:
Property and equipment — tax over book depreciation						(42,413)						(36,856)
Non-U.S. intangible assets — tax over book amortization						(11,086)						—
Intangible assets — tax over book amortization						(3,331)						(2,913)
Right-of-use operating lease assets						(6,688)						(5,398)
Non-U.S. deferred income tax liabilities						(4,709)						—
Contract revenue adjustment						(4,023)						(4,526)
Other						(133)						(213)
Total deferred income tax liabilities						(72,383)						(49,906)
Net deferred income taxes						$	(45,775)					$	(24,620)

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)						2022						2021
Balance at beginning of period						$	328					$	353
Gross increases in current period tax positions						83						45
Reductions in tax positions due to lapse of statutory limitations						(21)						(70)
Balance at end of period						390						328
Accrued interest and penalties at end of period						99						72
Total liability for unrecognized tax benefits						$	489					$	400

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

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Tabular disclosure of the change in unrecognized tax benefits.

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