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Income Taxes | 12 Months Ended
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Dec. 31, 2018
Income Taxes [Abstract] |
Income Taxes | 5. Income Taxes ﻿ Income before taxes is summarized as follows: ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | Year Ended December 31,
﻿(in thousands) |  | 2018 |  | 2017 |  | 2016
﻿United States operations |  | $ | 106,222 |  | $ | 135,177 |  | $ | 128,072
﻿Foreign and U.S. territory operations |  |  | 26,391 |  |  | 18,798 |  |  | 21,043
﻿Total |  | $ | 132,613 |  | $ | 153,975 |  | $ | 149,115
﻿ The income tax expense (benefit) is as follows:
﻿ |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | Year Ended December 31,
﻿(in thousands) |  | 2018 |  | 2017 |  | 2016
﻿Current expense: |  |  |  |  |  |  |  |  |
﻿Federal |  | $ | 21,055 |  | $ | 12,329 |  | $ | 43,850
﻿State |  |  | 8,676 |  |  | 6,763 |  |  | 13,039
﻿Foreign and U.S. territories |  |  | 5,550 |  |  | 3,435 |  |  | 6,573
﻿Total current expense |  |  | 35,281 |  |  | 22,527 |  |  | 63,462
﻿ |  |  |  |  |  |  |  |  |
﻿Deferred expense (benefit): |  |  |  |  |  |  |  |  |
﻿Federal |  |  | (1,773) |  |  | (30,021) |  |  | (3,054)
﻿State |  |  | 1,278 |  |  | 5,560 |  |  | (5,302)
﻿Foreign and U.S. territories |  |  | 46 |  |  | 1,365 |  |  | (1,813)
﻿Total deferred expense (benefit) |  |  | (449) |  |  | (23,096) |  |  | (10,169)
﻿Total expense (benefit) |  | $ | 34,832 |  | $ | (569) |  | $ | 53,293
﻿ The following table is a reconciliation of the Company’s income tax provision at the statutory rates to the income tax expense (benefit) at the Company’s effective rate: ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
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﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | Year Ended December 31,
﻿ |  | 2018 |  | 2017 |  | 2016
﻿(dollars in thousands) |  | Amount |  | Rate |  | Amount |  | Rate |  | Amount |  | Rate
﻿Federal income tax expense at statutory tax rate |  | $ | 27,849 |  | 21.0 | % |  | $ | 53,892 |  | 35.0 | % |  | $ | 52,190 |  | 35.0 | %
﻿State income taxes, net of federal tax benefit |  |  | 9,011 |  | 6.8 |  |  |  | 7,753 |  | 5.0 |  |  |  | 4,614 |  | 3.1 |
﻿Impact of federal tax law change |  |  | 211 |  | 0.2 |  |  |  | (53,348) |  | (34.6) |  |  |  | — |  | — |
﻿Officers' compensation |  |  | 3,078 |  | 2.3 |  |  |  | 2,622 |  | 1.7 |  |  |  | 3,807 |  | 2.6 |
﻿Domestic production activities deduction |  |  | — |  | — |  |  |  | (2,668) |  | (1.7) |  |  |  | (4,018) |  | (2.7) |
﻿Noncontrolling interest |  |  | (3,232) |  | (2.4) |  |  |  | (2,137) |  | (1.4) |  |  |  | — |  | — |
﻿Federal R&D credits |  |  | (2,658) |  | (2.0) |  |  |  | (470) |  | (0.4) |  |  |  | (669) |  | (0.5) |
﻿Reversal of reserve for uncertain tax positions and taxes payable due to statute expirations |  |  | (1,958) |  | (1.5) |  |  |  | (4,337) |  | (2.8) |  |  |  | — |  | — |
﻿Other |  |  | 2,531 |  | 1.9 |  |  |  | (1,876) |  | (1.2) |  |  |  | (2,631) |  | (1.8) |
﻿Income tax expense (benefit) |  | $ | 34,832 |  | 26.3 | % |  | $ | (569) |  | (0.4) | % |  | $ | 53,293 |  | 35.7 | %
﻿ On December 22, 2017, the U.S. government enacted the TCJA which made broad and complex changes to the U.S. tax code that impact the Company’s financial statements, including, but not limited to, a permanent decrease in the corporate federal statutory income tax rate from 35% to 21%, effective January 1, 2018, and a one-time transition tax from the inclusion of foreign earnings. Future distributions from foreign subsidiaries, however, are no longer subject to federal income tax. ﻿ As a result of the TCJA, the Company recognized an income tax benefit of $53.3 million in 2017, primarily due to the remeasurement of deferred tax assets and liabilities based on the reduced corporate federal statutory income tax rate of 21%. ﻿ In accordance with ASU 2018-05, the Company recorded a provisional amount for its one-time transition tax liability in 2017 which was not material. As of December 31, 2018 the Company has completed the accounting for the impacts of the TCJA and there were no material changes to the provisional amounts recorded in 2017. ﻿ The following is a summary of the significant components of the deferred tax assets and liabilities: ﻿
﻿ |  |  |  |  |  |
﻿ |  |  |  |  |  |
﻿ |  | As of December 31,
﻿(in thousands) |  | 2018 |  | 2017
﻿Deferred tax assets: |  |  |  |  |  |
﻿Timing of expense recognition |  | $ | 20,832 |  | $ | 22,730
﻿Net operating losses |  |  | 8,611 |  |  | 8,590
﻿Other, net |  |  | 18,828 |  |  | 15,618
﻿Deferred tax assets |  |  | 48,271 |  |  | 46,938
﻿Valuation allowance |  |  | (1,150) |  |  | (381)
﻿Net deferred tax assets |  |  | 47,121 |  |  | 46,557
﻿Deferred tax liabilities: |  |  |  |  |  |
﻿Intangible assets, due primarily to purchase accounting |  |  | (36,862) |  |  | (30,019)
﻿Fixed assets, due primarily to purchase accounting |  |  | (75,998) |  |  | (73,833)
﻿Construction contract accounting |  |  | (9,435) |  |  | (17,539)
﻿Joint ventures |  |  | (9,853) |  |  | (11,343)
﻿Other |  |  | (20,411) |  |  | (22,263)
﻿Deferred tax liabilities |  |  | (152,559) |  |  | (154,997)
﻿ |  |  |  |  |  |
﻿Net deferred tax liabilities |  | $ | (105,438) |  | $ | (108,440)
﻿ The Company had net operating loss carryforwards in various state tax jurisdictions totaling approximately $93.9 million as of December 31, 2018, with expiration dates ranging from 2020 to 2035. ﻿ T h e n et d e f e rr ed tax lia b ili t ies are presented i n t h e C o ns o li d at e d B ala n ce Sheets as follows: ﻿
﻿ |  |  |  |  |  |
﻿ |  |  |  |  |  |
﻿ |  | As of December 31,
﻿(in thousands) |  | 2018 |  | 2017
﻿Deferred tax assets |  | $ | 83 |  | $ | 64
﻿Deferred tax liabilities |  |  | (105,521) |  |  | (108,504)
﻿Net deferred tax liabilities |  | $ | (105,438) |  | $ | (108,440)
﻿ Prior to 2017, the Company did not provide for deferred income taxes or foreign withholding tax on basis differences in its non-U.S. subsidiaries that result from undistributed earnings which the Company had the intent and the ability to reinvest in its foreign operations. Due to the enactment of the TCJA, the Company no longer intends to permanently reinvest in its foreign subsidiaries. ﻿ The Company’s policy is to record interest and penalties on unrecognized tax benefits as an element of income tax expense. The cumulative amounts related to interest and penalties are added to the total unrecognized tax liabilities on the balance sheet. The total amount of gross unrecognized tax benefits as of December 31, 2018 that, if recognized, would affect the effective tax rate is $5.0 million. During 2018, the Company recognized a net decrease of $1.5 million in liabilities. The amount of gross unrecognized tax benefits as of December 31, 2017 was $6.5 million. During 2017, the Company recognized a net decrease of $1.1 million in liabilities. The amount of gross unrecognized tax benefits as of December 31, 2016 was $7.6 million. During 2016, the Company recognized a net increase of $4.0 million in liabilities. The Company does not expect any significant release of unrecognized tax benefits within the next twelve months. ﻿ The Company accounts for its uncertain tax positions in accordance with GAAP. The following is a reconciliation of the beginning and ending amounts of these tax benefits for the three years ended December 31, 2018: ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |
﻿ |  | As of December 31,
﻿(in thousands) |  | 2018 |  | 2017 |  | 2016
﻿Beginning balance |  | $ | 6,495 |  | $ | 7,574 |  | $ | 3,612
﻿Change in tax positions of prior years |  |  | (302) |  |  | (1,207) |  |  | 3,543
﻿Change in tax positions of current year |  |  | 763 |  |  | 128 |  |  | 419
﻿Reduction in tax positions for statute expirations |  |  | (1,958) |  |  | — |  |  | —
﻿Ending Balance |  | $ | 4,998 |  | $ | 6,495 |  | $ | 7,574
﻿ ﻿ The Company conducts business internationally and, as a result, one or more of its subsidiaries files income tax returns in U.S. federal, U.S. state and certain foreign jurisdictions. Accordingly, in the normal course of business, the Company is subject to examination by taxing authorities principally throughout the United States, Guam and Canada. The Company is no longer subject to examination by the taxing authority regarding any U.S. federal income tax returns for years before 2014 while the years open for examination under certain state and local jurisdictions vary.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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