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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Taxes [Abstract] |
Summary of Income Before Taxes |
|  | Year Ended December 31,
(in thousands) |  | 2019 |  | 2018 |  | 2017
United States operations |  | $ | (456,403) |  | $ | 106,222 |  | $ | 135,177
Foreign and U.S. territory operations |  |  | 30,569 |  |  | 26,391 |  |  | 18,798
Total |  | $ | (425,834) |  | $ | 132,613 |  | $ | 153,975
Provision for Income Taxes |
|  | Year Ended December 31,
(in thousands) |  | 2019 |  | 2018 |  | 2017
Current expense: |  |  |  |  |  |  |  |  |
Federal |  | $ | (2,884) |  | $ | 21,055 |  | $ | 12,329
State |  |  | 3,585 |  |  | 8,676 |  |  | 6,763
Foreign and U.S. territories |  |  | 5,299 |  |  | 5,550 |  |  | 3,435
Total current expense |  |  | 6,000 |  |  | 35,281 |  |  | 22,527
Deferred (benefit) expense: |  |  |  |  |  |  |  |  |
Federal |  |  | (43,579) |  |  | (1,773) |  |  | (30,021)
State |  |  | (27,566) |  |  | 1,278 |  |  | 5,560
Foreign and U.S. territories |  |  | (464) |  |  | 46 |  |  | 1,365
Total deferred (benefit) expense |  |  | (71,609) |  |  | (449) |  |  | (23,096)
Total (benefit) expense |  | $ | (65,609) |  | $ | 34,832 |  | $ | (569)
Reconciliation of Provision for Income Taxes |
|  | Year Ended December 31,
|  | 2019 |  | 2018 |  | 2017
(dollars in thousands) |  | Amount |  | Rate |  | Amount |  | Rate |  | Amount |  | Rate
Federal income tax (benefit) expense at statutory tax rate |  | $ | (89,425) |  | 21.0 | % |  | $ | 27,849 |  | 21.0 | % |  | $ | 53,892 |  | 35.0 | %
State income taxes, net of federal tax benefit |  |  | (18,442) |  | 4.3 |  |  |  | 9,011 |  | 6.8 |  |  |  | 7,753 |  | 5.0 |
Stock based compensation |  |  | 1,706 |  | (0.4) |  |  |  | — |  | — |  |  |  | — |  | — |
Impact of federal tax law change |  |  | — |  | — |  |  |  | 211 |  | 0.2 |  |  |  | (53,348) |  | (34.6) |
Officers' compensation |  |  | 2,938 |  | (0.7) |  |  |  | 3,078 |  | 2.3 |  |  |  | 2,622 |  | 1.7 |
Goodwill impairment |  |  | 43,990 |  | (10.3) |  |  |  | — |  | — |  |  |  | — |  | — |
Domestic production activities deduction |  |  | — |  | — |  |  |  | — |  | — |  |  |  | (2,668) |  | (1.7) |
Noncontrolling interests |  |  | (6,064) |  | 1.4 |  |  |  | (3,232) |  | (2.4) |  |  |  | (2,137) |  | (1.4) |
Federal R&D credits |  |  | (3,998) |  | 0.9 |  |  |  | (2,658) |  | (2.0) |  |  |  | (470) |  | (0.4) |
Reversal of reserve for uncertain tax positions and taxes payable due to statute expirations |  |  | (773) |  | 0.2 |  |  |  | (1,958) |  | (1.5) |  |  |  | (4,337) |  | (2.8) |
Foreign tax differences |  |  | 4,940 |  | (1.2) |  |  |  | (19) |  | — |  |  |  | (389) |  | (0.3) |
Other |  |  | (481) |  | 0.2 |  |  |  | 2,550 |  | 1.9 |  |  |  | (1,487) |  | (0.9) |
Income tax (benefit) expense |  | $ | (65,609) |  | 15.4 | % |  | $ | 34,832 |  | 26.3 | % |  | $ | (569) |  | (0.4) | %
Significant Components of Deferred Tax Assets and Liabilities | The following is a summary of the significant components of the deferred tax assets and liabilities:
|  | As of December 31,
(in thousands) |  | 2019 |  | 2018
Deferred tax assets: |  |  |  |  |  |
Timing of expense recognition |  | $ | 44,761 |  | $ | 20,832
Net operating losses |  |  | 23,711 |  |  | 8,611
Goodwill |  |  | 26,658 |  |  | —
Other, net |  |  | 17,098 |  |  | 18,828
Deferred tax assets |  |  | 112,228 |  |  | 48,271
Valuation allowance |  |  | (2,212) |  |  | (1,150)
Net deferred tax assets |  |  | 110,016 |  |  | 47,121
Deferred tax liabilities: |  |  |  |  |  |
Intangible assets, due primarily to purchase accounting |  |  | (15,309) |  |  | (36,862)
Fixed assets, due primarily to purchase accounting |  |  | (75,461) |  |  | (75,998)
Construction contract accounting |  |  | (13,464) |  |  | (9,435)
Joint ventures |  |  | (24,331) |  |  | (9,853)
Other |  |  | (16,567) |  |  | (20,411)
Deferred tax liabilities |  |  | (145,132) |  |  | (152,559)
Net deferred tax liabilities |  | $ | (35,116) |  | $ | (105,438)
As of December 31, 2019, the Company had federal and various state net operating loss carryforwards for income tax purposes of $29.3 million and $184.8 million, respectively. Federal net operating loss carryforwards do not have expiration dates, whereas the state net operating loss carryforwards have expiration dates ranging from 2022 to 2038. As of December 31, 2019, the Company has federal and state credit carryforwards for income tax purposes of approximately $6.0 million and $1.2 million, respectively. 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) |  | 2019 |  | 2018
Deferred tax assets |  | $ | 570 |  | $ | 83
Deferred tax liabilities |  |  | (35,686) |  |  | (105,521)
Net deferred tax liabilities |  | $ | (35,116) |  | $ | (105,438)
Reconciliation of Gross Unrecognized Tax Benefit |
|  | As of December 31,
(in thousands) |  | 2019 |  | 2018 |  | 2017
Beginning balance |  | $ | 4,998 |  | $ | 6,495 |  | $ | 7,574
Change in tax positions of prior years |  |  | 351 |  |  | (302) |  |  | (1,207)
Change in tax positions of current year |  |  | 1,106 |  |  | 763 |  |  | 128
Reduction in tax positions for statute expirations |  |  | (773) |  |  | (1,958) |  |  | —
Ending Balance |  | $ | 5,682 |  | $ | 4,998 |  | $ | 6,495

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