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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2018
INCOME TAXES |
Schedule of significant components of the provision or benefit for income taxes | Significant components of the provision or benefit for income taxes for the years ended December 31 were as follows:
|  | 2018(1) |  | 2017(1) |  | 2016 |
|  | (in thousands, except percentages) |
Current provision (benefit): |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 9,750 |  | $ | (1,969) |  | $ | (604) |
State |  |  | 3,264 |  |  | 3,701 |  |  | (335) |
Foreign |  |  | 2,238 |  |  | 331 |  |  | 1,052 |
|  |  | 15,252 |  |  | 2,063 |  |  | 113 |
Deferred provision (benefit): |  |  |  |  |  |  |  |  |  |
Federal |  |  | 1,157 |  |  | (9,312) |  |  | 8,161 |
State |  |  | 737 |  |  | (867) |  |  | 1,354 |
Foreign |  |  | (22) |  |  | (34) |  |  | 7 |
|  |  | 1,872 |  |  | (10,213) |  |  | 9,522 |
Total provision (benefit) for income taxes |  | $ | 17,124 |  | $ | (8,150) |  | $ | 9,635 |
| (1) |  | For 2018 and 2017, the income tax provision (benefit) reflects the impact of the Tax Reform Act, as previously disclosed in this Note. Deferred income tax liabilities were reduced by $3.8 million and $24.5 million for 2018 and 2017, respectively, as a result of the decrease in the U.S. corporate statutory tax rate from 35% to 21% effective January 1, 2018. Current tax expense was reduced by $0.1 million and $1.3 million for 2018 and 2017, respectively, as a result of the tax law change and the Company’s application of a blended rate due to the use of a fiscal year other than the calendar year for U.S. income tax filing purposes.
Schedule of components of the deferred tax provision or benefit | Components of the deferred tax provision or benefit for the years ended December 31, were as follows:
|  | 2018(2) |  | 2017(1)(2) |  | 2016(1) |
|  | (in thousands) |
Amortization, depreciation, and basis differences for property, plant and equipment and other long-lived assets |  | $ | 23,153 |  | $ | 21,876 |  | $ | 12,182 |
Amortization of intangibles |  |  | (763) |  |  | (1,030) |  |  | (3,623) |
Changes in reserves for workers’ compensation, third-party casualty, and cargo claims |  |  | 469 |  |  | (812) |  |  | 362 |
Revenue recognition |  |  | (2,524) |  |  | 332 |  |  | 1,862 |
Allowance for doubtful accounts |  |  | (115) |  |  | (719) |  |  | (295) |
Nonunion pension and other retirement plans |  |  | (2,810) |  |  | (1,977) |  |  | 3,861 |
Multiemployer pension fund withdrawal(3) |  |  | (5,818) |  |  | — |  |  | — |
Federal net operating loss carryforwards utilized |  |  | 125 |  |  | 28 |  |  | 161 |
State net operating loss carryforwards utilized (generated) |  |  | 621 |  |  | 229 |  |  | (304) |
State depreciation adjustments |  |  | (1,761) |  |  | (1,244) |  |  | (758) |
Share-based compensation |  |  | (529) |  |  | 352 |  |  | (681) |
Valuation allowance increase (decrease) |  |  | (744) |  |  | 401 |  |  | (61) |
Other accrued expenses |  |  | (4,881) |  |  | (852) |  |  | (4,108) |
Impact of the Tax Reform Act(2) |  |  | (3,772) |  |  | (24,542) |  |  | — |
Other |  |  | 1,221 |  |  | (2,255) |  |  | 924 |
Deferred tax provision (benefit) |  | $ | 1,872 |  | $ | (10,213) |  | $ | 9,522 |
| (1) |  | The components of the deferred tax provision above reflect the statutory U.S. income tax rate in effect for the applicable year, which is 35% for 2017 and 2016.
| (2) |  | For 2018 and 2017, the effect of the change in the U.S. corporate tax rate from 35% to 21% in accordance with the Tax Reform Act is reflected as a separate component of the deferred tax provision.
| (3) |  | ABF Freight recorded a multiemployer pension fund withdrawal liability in 2018 resulting from the transition agreement it entered into with the New England Teamsters and Trucking Industry Pension Fund (see Note I).
Schedule of significant components of deferred tax assets and liabilities | Significant components of the deferred tax assets and liabilities at December 31 were as follows:
|  | 2018 |  | 2017(1) |
|  | (in thousands) |
Deferred tax assets: |  |  |  |  |  |  |
Accrued expenses |  | $ | 39,885 |  | $ | 36,843 |
Pension liabilities |  |  | 2,754 |  |  | 4,413 |
Multiemployer pension fund withdrawal(2) |  |  | 5,710 |  |  | — |
Postretirement liabilities other than pensions |  |  | 7,660 |  |  | 6,236 |
Share-based compensation |  |  | 4,893 |  |  | 4,466 |
Federal and state net operating loss carryovers |  |  | 1,152 |  |  | 1,781 |
Other |  |  | 1,355 |  |  | 1,508 |
Total deferred tax assets |  |  | 63,409 |  |  | 55,247 |
Valuation allowance |  |  | (53) |  |  | (844) |
Total deferred tax assets, net of valuation allowance |  |  | 63,356 |  |  | 54,403 |
Deferred tax liabilities: |  |  |  |  |  |  |
Amortization, depreciation, and basis differences for property, plant and equipment, and other long-lived assets |  |  | 93,525 |  |  | 73,725 |
Intangibles |  |  | 14,066 |  |  | 14,573 |
Revenue recognition |  |  | 1,513 |  |  | 6,172 |
Prepaid expenses |  |  | 3,225 |  |  | 3,125 |
Total deferred tax liabilities |  |  | 112,329 |  |  | 97,595 |
Net deferred tax liabilities |  | $ | (48,973) |  | $ | (43,192) |
| (1) |  | The amounts for deferred tax assets and liabilities reflect the applicable tax rates for each category, with the U.S. federal rate at 21% for a substantial portion of 2017 temporary differences in accordance with the Tax Reform Act. The amounts also include deferred taxes for states and foreign jurisdictions.
| (2) |  | ABF Freight recorded a multiemployer pension fund withdrawal liability in 2018 resulting from the transition agreement it entered into with the New England Teamsters and Trucking Industry Pension Fund (see Note I).
Reconciliation between the effective income tax rate, as computed on income or loss before income taxes, and the statutory federal income tax rate | Reconciliation between the effective income tax rate, as computed on income before income taxes, and the statutory federal income tax rate for the years ended December 31 is presented in the following table:
|  | 2018(1) |  | 2017(2) |  | 2016(2) |
|  | (in thousands, except percentages) |
Income tax provision at the statutory federal rate |  | $ | 17,721 |  | $ | 18,052 |  | $ | 9,901 |
Federal income tax effects of: |  |  |  |  |  |  |  |  |  |
State income taxes |  |  | (840) |  |  | (992) |  |  | (357) |
Nondeductible expenses |  |  | 946 |  |  | 1,551 |  |  | 1,653 |
Life insurance proceeds and changes in cash surrender value |  |  | 7 |  |  | (927) |  |  | (1,001) |
Alternative fuel credit |  |  | (1,203) |  |  | — |  |  | (1,180) |
Increase (decrease) in valuation allowances |  |  | (891) |  |  | 401 |  |  | (61) |
Increase (decrease) in uncertain tax positions |  |  | 933 |  |  | (720) |  |  | — |
Settlement of share-based compensation |  |  | (649) |  |  | (1,129) |  |  | — |
Impact of the Tax Reform Act on current tax(2) |  |  | (52) |  |  | (1,288) |  |  | — |
Impact of the Tax Reform Act on deferred tax(2) |  |  | (3,772) |  |  | (24,542) |  |  | — |
Other(3) |  |  | (1,293) |  |  | (1,687) |  |  | (1,398) |
Federal income tax provision (benefit) |  |  | 10,907 |  |  | (11,281) |  |  | 7,557 |
State income tax provision |  |  | 4,001 |  |  | 2,834 |  |  | 1,019 |
Foreign income tax provision |  |  | 2,216 |  |  | 297 |  |  | 1,059 |
Total provision (benefit) for income taxes |  | $ | 17,124 |  | $ | (8,150) |  | $ | 9,635 |
Effective tax (benefit) rate |  |  | 20.3 | % |  | (15.8) | % |  | 34.1 | %
| (1) |  | Amounts in this reconciliation reflect the statutory U.S. income tax rate in effect for the applicable year after the enactment of the Tax Reform Act, which is 21%. The effect of applying a blended rate of 32.74% for the two months ended February 28, 2018, in accordance with the Tax Reform Act, is reflected in separate components of the reconciliation.
| (2) |  | Amounts in this reconciliation reflect the statutory U.S. income tax rate in effect for the applicable year prior to the enactment of the Tax Reform Act, which is 35%. For 2017, the effect of the change in the U.S. corporate tax rate to 21% in accordance with the Tax Reform Act is reflected in separate components of the reconciliation.
| (3) |  | Includes foreign income tax provision, as presented in this table.

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