XML 56 R30.htm IDEA: XBRL DOCUMENT v3.20.4

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

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
						2020						2019						2018
						(thousands)
Domestic						$	284,147					$	105,341					$	21,704
Foreign						2,164						2,890						398
Income before income taxes						$	286,311					$	108,231					$	22,102

Income Tax Provision [Table Text Block]

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

						Year Ended December 31
						2020						2019						2018
						(thousands)
Current income tax provision
Federal						$	66,401					$	13,700					$	6,459
State						17,434						4,574						3,126
Foreign						—						7						5
Total current						83,835						18,281						9,590
Deferred income tax provision (benefit)
Federal						22,321						7,430						(5,987)
State						4,529						925						(2,127)
Foreign						647						670						149
Total deferred						27,497						9,025						(7,965)
Income tax provision						$	111,332					$	27,306					$	1,625

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
						2020						2019						2018
						(thousands, except percentages)
Income before income taxes						$	286,311					$	108,231					$	22,102
Statutory U.S. income tax rate						21.0		%				21.0		%				21.0		%
Statutory tax provision						$	60,125					$	22,728					$	4,642
State taxes						12,267						4,390						741
Stranded tax effects of Plan Termination (a)						38,794						—						—
Unrecognized tax benefits						87						(178)						(181)
Benefit from enactment of the Tax Act (b)						—						—						(3,806)
Tax credits						(712)						(725)						(272)
Foreign rate differential						65						71						432
Share-based compensation						(411)						(532)						(1,718)
Nondeductible executive compensation						808						852						366
Meals and entertainment						340						738						886
Other						(31)						(38)						535
Total						$	111,332					$	27,306					$	1,625
Effective income tax rate						38.9		%				25.2		%				7.4		%

______________________________________ 

(a)    In December 2020, we eliminated our qualified defined benefit pension plan (Plan Termination), as discussed in Note 12, Retirement and Benefit Plans. Prior to the Plan Termination, "Accumulated other comprehensive loss" on our Consolidated Balance Sheet included the stranded tax effects of our conversion from a limited liability company to a corporation in 2013 and the adoption of the Tax Cuts and Jobs Act (the "Tax Act") in 2017. Upon Plan Termination, these stranded tax effects of $38.8 million were required to be released into income tax expense under GAAP.

(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 a discrete tax benefit of $3.8 million during the year ended December 31, 2018. 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 related 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 of 35%.

Net Deferred Tax Assets and Liabilities [Table Text Block]

The components of our net deferred tax assets and liabilities at December 31, 2020 and 2019, are summarized as follows:

						December 31, 2020						December 31, 2019
						(thousands)
Deferred tax assets
Employee benefits						$	29,258					$	26,914
Lease liabilities						25,057						23,241
Inventories						3,711						3,358
Foreign net operating loss carryforward						1,279						1,514
Other						6,921						6,256
Deferred tax assets						$	66,226					$	61,283
Deferred tax liabilities
Property and equipment						$	(45,652)					$	(50,751)
Right-of-use assets						(23,256)						(21,753)
Intangible assets and other						(6,823)						(5,924)
Other						(1,298)						(1,597)
Deferred tax liabilities						$	(77,029)					$	(80,025)
Total deferred tax liabilities, net						$	(10,803)					$	(18,742)

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:

						2020						2019						2018
						(thousands)
Balance as of January 1						$	1,685					$	1,850					$	2,083
Increases related to prior years' tax positions						97						—						13
Increases related to current years' tax positions						89						53						—
Decreases related to prior years' tax positions						—						—						(43)
Lapse of statute of limitations						(91)						(218)						(203)
Balance as of December 31						$	1,780					$	1,685					$	1,850

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=120395691&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://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=121610041&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=84230637&loc=SL6600010-109319

+ Details

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