XML 29 R19.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Income Taxes | 12 Months Ended
--- | ---
Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Income Taxes | 10. Income Taxes The current and deferred federal and state income tax provision from continuing operations, are comprised of the following:
|  | For the Years Ended December 31, |
|  | (Amounts in Thousands) |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Current |  |  |  |  |  |  |  |  |
Federal |  | $ | 8,998 |  |  | $ | 11,839 |  |  | $ | 7,075 |
State |  |  | 3,533 |  |  |  | 4,139 |  |  |  | 3,090 |
Deferred |  |  |  |  |  |  |  |  |
Federal |  |  | 11,258 |  |  |  | 2,306 |  |  |  | 3,118 |
State |  |  | 1,966 |  |  |  | 526 |  |  |  | 863 |
Provision for income taxes |  | $ | 25,755 |  |  | $ | 18,810 |  |  | $ | 14,146 |
The tax effects of certain temporary differences between the Company’s book and tax bases of assets and liabilities give rise to significant portions of the deferred income tax assets (liabilities) at December 31, 2024 and 2023. The deferred tax assets (liabilities) consisted of the following:
|  | For the Years Ended December 31, |
|  | (Amounts in Thousands) |
|  | 2024 |  |  | 2023 |
Deferred tax assets |  |  |  |  |  |
Long-term |  |  |  |  |  |
Accounts receivable allowances |  | $ | 20,843 |  |  | $ | 21,480 |
Operating lease liabilities |  |  | 14,917 |  |  |  | 13,562 |
Accrued compensation |  |  | 5,683 |  |  |  | 4,957 |
Accrued workers’ compensation |  |  | 3,253 |  |  |  | 3,046 |
Transaction costs |  |  | 2,547 |  |  |  | 2,390 |
Stock-based compensation |  |  | 1,400 |  |  |  | 1,456 |
Net operating loss |  |  | 73 |  |  |  | 87 |
Restructuring costs |  |  | 555 |  |  |  | 26 |
Other |  |  | 2,517 |  |  |  | 2,908 |
Total long-term deferred tax assets |  |  | 51,788 |  |  |  | 49,912 |
Deferred tax liabilities |  |  |  |  |  |
Long-term |  |  |  |  |  |
Goodwill and intangible assets |  |  | (61,177 | ) |  |  | (42,980 | )
Operating lease assets, net |  |  | (12,521 | ) |  |  | (11,650 | )
Property and equipment |  |  | (2,796 | ) |  |  | (2,829 | )
Insurance premiums |  |  | (1,079 | ) |  |  | (982 | )
Other |  |  | (35 | ) |  |  | — |
Total long-term deferred tax liabilities |  |  | (77,608 | ) |  |  | (58,441 | )
Total net deferred tax (liabilities) assets |  | $ | (25,820 | ) |  | $ | (8,529 | )
Management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers all available evidence in making this assessment. A reconciliation for continuing operations of the statutory federal tax rate of 21.0% to the effective income tax rate is summarized as follows:
|  | For the Years Ended December 31, |  |
|  | (Amounts in Thousands) |  |
|  | 2024 |  |  | 2023 |  |  | 2022 |  |
Federal income tax at statutory rate |  |  | 21.0 |  | % |  |  | 21.0 |  | % |  |  | 21.0 |  | %
State and local taxes, net of federal benefit |  |  | 5.8 |  |  |  |  | 5.6 |  |  |  |  | 5.9 |  |
162(m) disallowance for executive compensation |  |  | 2.5 |  |  |  |  | 2.2 |  |  |  |  | 3.2 |  |
Nondeductible penalties |  |  | — |  |  |  |  | 0.1 |  |  |  |  | — |  |
Excess tax benefit |  |  | (0.5 | ) |  |  |  | (0.5 | ) |  |  |  | (0.4 | ) |
Jobs tax credits, net |  |  | (3.3 | ) |  |  |  | (4.0 | ) |  |  |  | (5.1 | ) |
Nondeductible permanent items |  |  | 0.2 |  |  |  |  | 0.1 |  |  |  |  | — |  |
Stock acquisition cost |  |  | 1.4 |  |  |  |  | — |  |  |  |  | — |  |
Federal/state return to provision |  |  | (0.1 | ) |  |  |  | (1.3 | ) |  |  |  | (1.0 | ) |
Other |  |  | (1.1 | ) |  |  |  | (0.1 | ) |  |  |  | (0.1 | ) |
Effective income tax rate |  |  | 25.9 |  | % |  |  | 23.1 |  | % |  |  | 23.5 |  | %
The effective income tax rate was 25.9%, 23.1% and 23.5% for the years ended December 31, 2024, 2023 and 2022, respectively. The difference between our federal statutory and effective income tax rates was principally due to the inclusion of state taxes, non-deductible compensation, and non-deductible permanent items, partially offset by the use of federal employment tax credits. The Company is subject to taxation in the jurisdictions in which it operates. The Company continues to remain subject to examination by U.S. federal authorities for the years 2021 through 2023 and for various state authorities for the years 2019 through 2023.

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 The entire disclosure for income tax. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 270 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477891/740-270-50-1 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 6.I.5.Q1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480990/946-20-50-13 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/740/tableOfContent Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-14 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-21 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 17 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-17 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482603/740-30-50-2 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration