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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Components of Provision for Income Taxes | Provision for income taxes consists of the following for the periods presented (in thousands):
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 18,954 |  |  | $ | 13,961 |  |  | $ | 3,325 |
State |  |  | 3,440 |  |  |  | 1,113 |  |  |  | 680 |
Foreign |  |  | 1,692 |  |  |  | 1,172 |  |  |  | 1,832 |
Total current |  |  | 24,086 |  |  |  | 16,246 |  |  |  | 5,837 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (1,573 | ) |  |  | (7,176 | ) |  |  | 27,179 |
State |  |  | 2,509 |  |  |  | (10 | ) |  |  | 4,408 |
Foreign |  |  | 844 |  |  |  | (2,528 | ) |  |  | (215 | )
Total deferred provision |  |  | 1,780 |  |  |  | (9,714 | ) |  |  | 31,372 |
Provision for income taxes |  | $ | 25,866 |  |  | $ | 6,532 |  |  | $ | 37,209 |
Effective Income Tax Rate | A reconciliation of the U.S. federal statutory rate to the effective tax rate is as follows for the periods presented:
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
U.S. federal statutory rate on income before income taxes |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 35.0 | %
Impact of foreign operations |  |  | (15.3 | ) |  |  | 9.5 |  |  |  | (14.1 | )
Impacts of SAB 118 |  |  | — |  |  |  | 6.7 |  |  |  | — |
Effects of statutory rate change |  |  | — |  |  |  | — |  |  |  | (8.5 | )
State income taxes, net of federal tax effect |  |  | 3.3 |  |  |  | (1.4 | ) |  |  | 2.1 |
Permanent differences |  |  | 2.4 |  |  |  | (4.1 | ) |  |  | 1.8 |
Goodwill impairment |  |  | — |  |  |  | (36.6 | ) |  |  | — |
Change in valuation allowance |  |  | 2.9 |  |  |  | (1.4 | ) |  |  | 1.6 |
Unrecognized tax benefit release |  |  | 0.3 |  |  |  | 3.1 |  |  |  | (0.8 | )
Interest disallowance |  |  | 4.2 |  |  |  | (2.2 | ) |  |  | — |
Federal tax credits |  |  | (1.3 | ) |  |  | 1.0 |  |  |  | — |
Other |  |  | 1.5 |  |  |  | 0.5 |  |  |  | (1.4 | )
Effective income tax rate |  |  | 19.0 | % |  |  | (3.9 | )% |  |  | 15.7 | %
Summary of Domestic and Foreign Components of Income (Loss) before Income Taxes | The domestic and foreign components of income (loss) before income taxes are as follows (in thousands):
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Foreign |  | $ | 61,921 |  |  | $ | (228,350 | ) |  | $ | 120,905 |
Domestic |  |  | 74,067 |  |  |  | 59,396 |  |  |  | 115,893 |
Total |  | $ | 135,988 |  |  | $ | (168,954 | ) |  | $ | 236,798 |
Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities of the Company at December 31, 2019 and December 31, 2018 were as follows (in thousands):
|  | December 31, |
|  | 2019 |  |  | 2018 |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating losses and tax credit carryforwards – federal and state |  | $ | 25,118 |  |  | $ | 27,294 |
Bad debt allowance |  |  | 996 |  |  |  | 898 |
Accrued compensation and severance |  |  | 14,645 |  |  |  | 15,229 |
Pension reserves |  |  | 724 |  |  |  | 595 |
Insurance reserves |  |  | 16,485 |  |  |  | 13,994 |
Leases |  |  | 3,436 |  |  |  | 5,374 |
Accrued expenses |  |  | 1,496 |  |  |  | 4,231 |
Interest carryforwards |  |  | 59,413 |  |  |  | 32,272 |
Lease liabilities |  |  | 98,419 |  |  |  | — |
Other assets |  |  | 2,562 |  |  |  | 2,284 |
Total gross deferred tax assets |  |  | 223,294 |  |  |  | 102,171 |
Less: valuation allowance |  |  | (28,648 | ) |  |  | (24,079 | )
Deferred tax assets |  |  | 194,646 |  |  |  | 78,092 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Fixed asset basis difference |  |  | (43,992 | ) |  |  | (48,698 | )
Prepaid items |  |  | (2,163 | ) |  |  | (1,728 | )
Intangible assets |  |  | (104,542 | ) |  |  | (87,628 | )
Lease right-of-use assets |  |  | (99,677 | ) |  |  | — |
Other liabilities |  |  | (12,793 | ) |  |  | (16,942 | )
Total deferred tax liabilities |  |  | (263,167 | ) |  |  | (154,996 | )
Total net deferred tax liability |  | $ | (68,521 | ) |  | $ | (76,904 | )
Unrecognized Income Tax Benefits Net of Federal Benefit | A reconciliation of the beginning and ending amount of unrecognized income tax benefits net of the federal benefit is as follows (in thousands):
|  | 2019 |  |  | 2018 |
Balance at January 1 |  | $ | 713 |  |  | $ | 6,104 |
Additions based on tax positions related to the current year |  |  | 3,001 |  |  |  | 52 |
Reductions as a result of the lapse of applicable statutes of limitations and settlements with tax authorities |  |  | (1,273 | ) |  |  | (5,443 | )
Balance at December 31 |  | $ | 2,441 |  |  | $ | 713 |

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- 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
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