XML 36 R31.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income before Income Tax, Domestic and Foreign [Table Text Block]

Income before income taxes includes the following components:

		Year Ended December 31
		2019				2018				2017
		(thousands)
Domestic		$	105,341			$	21,704			$	115,083
Foreign		2,890				398				2,505
Income before income taxes		$	108,231			$	22,102			$	117,588

Income Tax Provision [Table Text Block]

The income tax provision shown in the Consolidated Statements of Operations includes the following:

		Year Ended December 31
		2019				2018				2017
		(thousands)
Current income tax provision (benefit)
Federal		$	13,700			$	6,459			$	22,541
State		4,574				3,126				3,973
Foreign		7				5				—
Total current		18,281				9,590				26,514
Deferred income tax provision (benefit)
Federal		7,430				(5,987		)		6,747
State		925				(2,127		)		991
Foreign		670				149				379
Total deferred		9,025				(7,965		)		8,117
Income tax provision		$	27,306			$	1,625			$	34,631

Income Tax Rate Reconciliation [Table Text Block]

The effective tax rate varies from the U.S. Federal statutory income tax rate principally due to the following:

		Year Ended December 31
		2019				2018				2017
		(thousands, except percentages)
Income before income taxes		$	108,231			$	22,102			$	117,588
Statutory U.S. income tax rate (a)		21.0		%		21.0		%		35.0		%
Statutory tax provision		$	22,728			$	4,642			$	41,156
State taxes		4,390				741				3,719
Domestic production activities deduction		—				—				(963		)
Unrecognized tax benefits		(178		)		(181		)		(86		)
Benefit from enactment of the Tax Act (b)		—				(3,806		)		(8,129		)
Tax credits		(725		)		(272		)		(912		)
Foreign rate differential		71				432				(366		)
Share-based compensation		(532		)		(1,718		)		(413		)
Nondeductible executive compensation		852				366				—
Meals and entertainment		738				886				663
Other		(38		)		535				(38		)
Total		$	27,306			$	1,625			$	34,631
Effective income tax rate		25.2		%		7.4		%		29.5		%

______________________________________ 

(a) On December 22, 2017, the Tax Cuts and Jobs Act (the “Tax Act”), was enacted by the U.S. government. The most significant impact to our financial statements was the reduction of the corporate federal income tax rate from 35% to 21%.

(b) As of December 31, 2018, we completed our assessment of the effects of the Tax Act on our financial statements. In connection with our analysis of the Tax Act, we recorded discrete tax benefits of $3.8 million and $8.1 million, respectively, during the years ended December 31, 2018 and 2017. The $3.8 million reduction in income tax expense resulted from the remeasurement of deferred income taxes to the new federal statutory rate of 21%, which mostly relates to a $20.0 million discretionary pension contribution made during 2018, for which we received a tax deduction at the 2017 federal income tax rate. The $8.1 million reduction in income tax expense resulted from the remeasurement of deferred income taxes to the new federal statutory rate of 21%.

Net Deferred Tax Assets and Liabilities [Table Text Block]

The components of our net deferred tax assets and liabilities at December 31, 2019 and 2018, are summarized as follows:

		December 31, 2019				December 31, 2018
		(thousands)
Deferred tax assets
Employee benefits		$	26,914			$	27,149
Lease liabilities		23,241				—
Capital leases		—				5,742
Inventories		3,358				2,649
Foreign net operating loss carryforward		1,514				3,108
Other		6,256				6,461
Net deferred tax assets		$	61,283			$	45,109
Deferred tax liabilities
Property and equipment		$	(50,751	)		$	(48,302	)
Right-of-use assets		(21,753		)		—
Intangible assets and other		(5,924		)		(5,369		)
Other		(1,597		)		(2,445		)
Deferred tax liabilities		$	(80,025	)		$	(56,116	)
Total deferred tax liabilities, net		$	(18,742	)		$	(11,007	)

Unrecognized Tax Benefits Roll Forward [Table Text Block]

The following table summarizes the changes related to our gross unrecognized tax benefits excluding interest and penalties:

		2019				2018				2017
		(thousands)
Balance as of January 1		$	1,850			$	2,083			$	2,224
Increases related to prior years' tax positions		—				13				1
Increases related to current year tax positions		53				—				51
Decreases related to prior years' tax positions		—				(43		)		(12		)
Lapse of statute of limitations		(218		)		(203		)		(181		)
Balance as of December 31		$	1,685			$	1,850			$	2,083

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=84230637&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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=84230637&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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=84230637&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 55
-Paragraph 217
-URI http://asc.fasb.org/extlink&oid=117331294&loc=d3e36027-109320

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration