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Income Taxes | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Income Taxes |
9. | Income Taxes
Deferred taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities used for financial reporting purposes and the amounts used for income tax purposes. Significant components of the net deferred tax assets and net deferred tax liabilities as reflected on the Consolidated Balance Sheets are as follows:
|  | December 31,
|  | 2016 |  | 2015
|  | (in thousands)
Deferred tax liabilities: |  |  |  |
Prepaid assets |  | $ | (7,133 | ) |  | $ | (3,952 | )
Depreciation |  | (936 | ) |  | (1,741 | )
Software development costs |  | (3,960 | ) |  | (2,699 | )
Total deferred tax liabilities |  | (12,029 | ) |  | (8,392 | )
Deferred tax assets: |  |  |  |  |  |
Accrued incentive compensation |  | 8,590 |  |  | 8,818 |
Net operating loss carryforward |  | 1,300 |  |  | 1,463 |
Workers’ compensation accruals |  | 7,891 |  |  | 7,586 |
Accrued rent |  | 1,092 |  |  | 1,229 |
Stock-based compensation |  | 6,217 |  |  | 4,553 |
Intangibles |  | 618 |  |  | 1,159 |
Minority investment impairment |  | 1,021 |  |  | 1,016 |
Other |  | 349 |  |  | 564 |
Total deferred tax assets |  | 27,078 |  |  | 26,388 |
Valuation allowance |  | (1,024 | ) |  | (1,020 | )
Total net deferred tax assets |  | 26,054 |  |  | 25,368 |
Net deferred tax assets |  | $ | 14,025 |  |  | $ | 16,976 |
The components of income tax expense are as follows:
|  | Year ended December 31,
|  | 2016 |  | 2015 |  | 2014
|  | (in thousands)
Current income tax expense: |  |  |  |  |  |
Federal |  | $ | 31,045 |  |  | $ | 35,221 |  |  | $ | 18,034 |
State |  | 5,190 |  |  | 5,741 |  |  | 3,322 |
Total current income tax expense |  | 36,235 |  |  | 40,962 |  |  | 21,356 |
Deferred income tax (benefit) expense: |  |  |  |  |  |  |  |  |
Federal |  | 2,641 |  |  | (13,632 | ) |  | (1,764 | )
State |  | 310 |  |  | (1,101 | ) |  | 31 |
Total deferred income tax (benefit) expense |  | 2,951 |  |  | (14,733 | ) |  | (1,733 | )
Total income tax expense |  | $ | 39,186 |  |  | $ | 26,229 |  |  | $ | 19,623 |
In the first quarter of 2016, we prospectively adopted ASU No. 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting for calendar year 2016. In 2016, we recognized an income tax benefit of $1.5 million, or $0.07 per diluted related to excess tax benefits from the vesting of restricted stock awards and non-qualified stock options. Prior to the adoption of this pronouncement we recognized excess tax benefit as an increase in additional paid in capital of $2.2 million in 2015 and $0.5 million in 2014. Prior periods have not been adjusted, consistent with the provisions of the ASU. The reconciliation of income tax expense computed at U.S. federal statutory tax rates to the reported income tax expense from continuing operations is as follows:
|  | Year ended December 31,
|  | 2016 |  | 2015 |  | 2014
|  | (in thousands)
Expected income tax expense at 35% |  | $ | 36,812 |  |  | $ | 22,967 |  |  | $ | 16,670 |
State income taxes, net of federal benefit |  | 3,684 |  |  | 2,696 |  |  | 2,204 |
Nondeductible expenses |  | 1,669 |  |  | 1,669 |  |  | 1,939 |
Section 199 benefits |  | (686 | ) |  | (627 | ) |  | (592 | )
Equity compensation |  | (1,338 | ) |  | — |  |  | — |
Research and development credit |  | (751 | ) |  | (530 | ) |  | (455 | )
Other, net |  | (204 | ) |  | 54 |  |  | (143 | )
Reported total income tax expense |  | $ | 39,186 |  |  | $ | 26,229 |  |  | $ | 19,623 |
At December 31, 2016, we have net operating loss carryforwards totaling approximately $3.4 million that expire from 2022 to 2030 related to our acquisition of ExpensAble. We recognize interest and penalties related to uncertain tax positions in income tax expense. As of December 31, 2016, 2015 and 2014, we made no provisions for interest or penalties related to uncertain tax positions. The tax years 2013 through 2015 remain open to examination by the Internal Revenue Service of the United States. The tax years 2012 through 2015 remain open to examination by various state tax authorities.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32718-109319 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319 + Details
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