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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Taxes [Abstract]

Components of Deferred Tax Assets and Liabilities Included in Consolidated Balance Sheets

Significant components of deferred tax assets and liabilities included in the consolidated balance sheets at December 31, 2022 and 2021 were as follows (in thousands):

		December 31, 2022				December 31, 2021
Deferred tax assets:
Compensation		$	1,464			$	2,817
Allowance for credit losses			605				573
Lease obligations - including closed clinics			28,525				26,856
Deferred tax assets		$	30,594			$	30,246
Deferred tax liabilities:
Depreciation and amortization		$	(23,836	)		$	(19,607	)
Operating lease right-of-use assets			(26,318	)			(24,637	)
Gain on cash flow hedge			(1,373	)			-
Other			(370	)			(387	)
Deferred tax liabilities			(51,897	)			(44,631	)
Net deferred tax liability		$	(21,303	)		$	(14,385	)

Differences Between Federal Tax Rate and Company's Effective Tax Rate for Results of Continuing Operations

The differences between the federal tax rate and the Company’s effective tax rate for the years ended December 31, 2022, 2021 and 2020 were as follows (in thousands):

		December 31, 2022								December 31, 2021								December 31, 2020
U. S. tax at statutory rate		$	9,307				21.0	%		$	11,782				21.0	%		$	10,125				21.0	%
State income taxes, net of federal benefit			2,079				4.7	%			2,478				4.4	%			1,956				3.9	%
Shortfall (excess) equity compensation deduction			149				0.3	%			(246	)			-0.4	%			(99	)			0.0	%
Non-deductible expenses			629				1.4	%			1,258				2.2	%			1,040				2.1	%
		$	12,164				27.4	%		$	15,272				27.2	%		$	13,022				27.0	%

Significant Components of Provision for Income Taxes for Continuing Operations

Significant components of the provision for income taxes for the years ended December 31, 2022, 2021 and 2020 were as follows (in thousands):

		December 31, 2022				December 31, 2021				December 31, 2020
Current:
Federal		$	(770	)		$	7,477			$	10,506
State			518				2,107				2,774
Total current			(252	)			9,584				13,280
Deferred:
Federal			9,933				4,866				(38	)
State			2,483				822				(220	)
Total deferred			12,416				5,688				(258	)
Total income tax provision		$	12,164			$	15,272			$	13,022

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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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319

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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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

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