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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Summary of Provision for Income Tax Expense (Benefit) | The components of the provision for income tax expense (benefit) are as follows (in thousands):
|  | December 31, 2019 |
|  | Current |  |  | Deferred |  |  | Total |
U.S. federal |  | $ | 8,446 |  |  | $ | (700 | ) |  | $ | 7,746 |
State and local |  |  | 4,218 |  |  |  | (913 | ) |  |  | 3,305 |
Foreign |  |  | 449 |  |  |  | — |  |  |  | 449 |
|  | $ | 13,113 |  |  | $ | (1,613 | ) |  | $ | 11,500 |
|  | December 31, 2018 |
|  | Current |  |  | Deferred |  |  | Total |
U.S. federal |  | $ | 9,877 |  |  | $ | (2,847 | ) |  | $ | 7,030 |
State and local |  |  | 3,867 |  |  |  | (921 | ) |  |  | 2,946 |
Foreign |  |  | 553 |  |  |  | — |  |  |  | 553 |
|  | $ | 14,297 |  |  | $ | (3,768 | ) |  | $ | 10,529 |
|  | December 31, 2017 |
|  | Current |  |  | Deferred |  |  | Total |
U.S. federal |  | $ | 8,656 |  |  | $ | 3,763 |  |  | $ | 12,419 |
State and local |  |  | 1,808 |  |  |  | (136 | ) |  |  | 1,672 |
|  | $ | 10,464 |  |  | $ | 3,627 |  |  | $ | 14,091 |
Schedule of Net Deferred Tax Assets (Liabilities) | The components of net deferred tax assets (liabilities) are as follows (in thousands):
|  | December 31, |
|  | 2019 |  |  | 2018 |
Deferred tax assets: |  |  |  |  |  |  |  |
Accrued liabilities, reserves and other |  | $ | 11,152 |  |  | $ | 9,283 |
UNICAP |  |  | 3,310 |  |  |  | 3,071 |
Tax basis goodwill |  |  | 2,121 |  |  |  | 2,398 |
Investment in FORWARD |  |  | 2,753 |  |  |  | 2,402 |
Equity-based compensation |  |  | 1,371 |  |  |  | 855 |
Deferred revenue |  |  | 1,229 |  |  |  | — |
Net operating loss |  |  | 786 |  |  |  | 1,291 |
Gross deferred tax assets |  |  | 22,722 |  |  |  | 19,300 |
Valuation allowance |  |  | (786 | ) |  |  | (1,291 | )
Deferred tax assets, net of valuation allowance |  |  | 21,936 |  |  |  | 18,009 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Accrued expenses and reserves |  |  | (4,364 | ) |  |  | (3,723 | )
State taxes |  |  | (53 | ) |  |  | 48 |
Depreciation |  |  | (2,146 | ) |  |  | (487 | )
Intangible assets |  |  | (83 | ) |  |  | (170 | )
Total gross deferred liabilities |  |  | (6,646 | ) |  |  | (4,332 | )
Net deferred tax assets |  | $ | 15,290 |  |  | $ | 13,677 |
Schedule of Effective Tax Rate | Our effective tax rate was different than the statutory U.S. federal income tax rate for the following reasons:
|  | December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Computed “expected” tax expense |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 35.0 | %
Deferred rate adjustment |  |  | — |  |  |  | — |  |  |  | 27.0 |
Valuation allowance |  |  | (1.1 | ) |  |  | 0.2 |  |  |  | 6.1 |
State and local income taxes, net of federal tax benefit |  |  | 5.8 |  |  |  | 5.7 |  |  |  | 4.7 |
Foreign-derived intangible income |  |  | (1.3 | ) |  |  | (1.6 | ) |  |  | — |
Permanent items |  |  | 1.2 |  |  |  | 1.3 |  |  |  | 0.3 |
Equity-based compensation |  |  | (1.2 | ) |  |  | — |  |  |  | — |
Other |  |  | — |  |  |  | (1.0 | ) |  |  | 0.7 |
|  |  | 24.4 | % |  |  | 25.6 | % |  |  | 73.8 | %

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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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- 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
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