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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Summary of Components of Income (Loss) from Continuing Operations before Provision for Income Taxes | The components of income (loss) from continuing operations before provision for income taxes consisted of the following (in thousands):
|  | Years Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
United States |  | $ | 112,425 |  |  | $ | 119,446 |  |  | $ | 100,031 |
Foreign |  |  | (4,913 | ) |  |  | (2,226 | ) |  |  | (805 | )
|  | $ | 107,512 |  |  | $ | 117,220 |  |  | $ | 99,226 |
Schedule of Provision (Benefit) for Income Taxes | The provision ( benefit ) for income taxes consisted of the following (in thousands):
|  | Years Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Federal: |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 22,638 |  |  | $ | 24,101 |  |  | $ | 28,993 |
Deferred |  |  | 665 |  |  |  | (268 | ) |  |  | 13,249 |
|  | $ | 23,303 |  |  | $ | 23,833 |  |  | $ | 42,242 |
State: |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 7,718 |  |  | $ | 6,004 |  |  | $ | 5,883 |
Deferred |  |  | (507 | ) |  |  | 162 |  |  |  | (423 | )
|  | $ | 7,211 |  |  | $ | 6,166 |  |  | $ | 5,460 |
Foreign: |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | — |  |  | $ | — |  |  | $ | — |
Deferred |  |  | 68 |  |  |  | (36 | ) |  |  | — |
|  | $ | 68 |  |  | $ | (36 | ) |  | $ | — |
|  | $ | 30,582 |  |  | $ | 29,963 |  |  | $ | 47,702 |
Significant Components of Deferred Tax Assets (Liabilities), Net | Significant components of the Company’s deferred tax assets, net consisted of the following (in thousands):
|  | December 31, |
|  | 2019 |  |  | 2018 |
Deferred Tax Assets: |  |  |  |  |  |  |  |
Accrued expenses and bonuses |  | $ | 2,481 |  |  | $ | 2,258 |
Bad debt and other reserves |  |  | 2,744 |  |  |  | 1,840 |
Deferred compensation |  |  | 13,346 |  |  |  | 13,337 |
Operating lease ROU assets, net |  |  | 21,761 |  |  |  | — |
Stock-based compensation |  |  | 7,847 |  |  |  | 8,912 |
Deferred rent |  |  | — |  |  |  | 1,470 |
Net operating and capital loss carryforwards |  |  | 3,612 |  |  |  | 2,335 |
Other comprehensive income |  |  | — |  |  |  | 330 |
State taxes |  |  | 139 |  |  |  | 11 |
Other |  |  | 328 |  |  |  | 25 |
Deferred tax assets before valuation allowance |  |  | 52,258 |  |  |  | 30,518 |
Valuation allowance |  |  | (3,921 | ) |  |  | (2,570 | )
Deferred Tax Assets |  | $ | 48,337 |  |  | $ | 27,948 |
Deferred Tax Liabilities: |  |  |  |  |  |  |  |
Fixed assets |  | $ | (4,422 | ) |  | $ | (4,086 | )
Operating lease liabilities |  |  | (20,117 | ) |  |  | — |
Prepaid expenses |  |  | (940 | ) |  |  | (789 | )
Other comprehensive income |  |  | (552 | ) |  |  | — |
Other |  |  | (184 | ) |  |  | (114 | )
Deferred Tax Liabilities |  |  | (26,215 | ) |  |  | (4,989 | )
Deferred Tax Assets, Net |  | $ | 22,122 |  |  | $ | 22,959 |
Components of Provision for Income Taxes and Income before Provision for Income Taxes | The provision for income taxes differs from the amount computed by applying the statutory federal corporate income tax rate to income before provision for income taxes and consisted of the following (dollars in thousands):
|  | Years Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
|  | Amount |  |  | Rate |  |  | Amount |  |  | Rate |  |  | Amount |  |  | Rate |
Income tax expense at the federal statutory rate |  | $ | 22,578 |  |  |  | 21.0 | % |  | $ | 24,616 |  |  |  | 21.0 | % |  | $ | 34,729 |  |  |  | 35.0 | %
State income tax expense, net of federal benefit |  |  | 5,698 |  |  |  | 5.3 | % |  |  | 4,550 |  |  |  | 3.9 | % |  |  | 3,577 |  |  |  | 3.6 | %
Wind fall tax benefits, net related to stock-based compensation |  |  | (196 | ) |  |  | (0.2 | )% |  |  | (1,535 | ) |  |  | (1.3 | )% |  |  | (2,568 | ) |  |  | (2.6 | )%
Change in valuation allowance |  |  | 1,351 |  |  |  | 1.3 | % |  |  | 677 |  |  |  | 0.6 | % |  |  | 170 |  |  |  | 0.2 | %
Effect of rate and other changes on federal deferred taxes, net due to enactment of Tax Cuts and Jobs Act (“the Act”) (1) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 11,644 |  |  |  | 11.7 | %
Permanent and other items (2) |  |  | 1,151 |  |  |  | 1.0 | % |  |  | 1,655 |  |  |  | 1.4 | % |  |  | 150 |  |  |  | 0.2 | %
|  | $ | 30,582 |  |  |  | 28.4 | % |  | $ | 29,963 |  |  |  | 25.6 | % |  | $ | 47,702 |  |  |  | 48.1 | %
(1) | On December 22, 2017, the Act was enacted, which significantly changed the U.S. corporate income tax laws by, among other items, reducing the U.S. corporate income tax rate to 21% from 35% starting in 2018, further limiting 162(m) deductions and creating a territorial tax system with a one-time mandatory tax on previously deferred foreign earnings of U.S. subsidiaries. As a result of the Act, the Company revalued its deferred taxes, net due to the changes in the U.S. corporate statutory federal income tax rate and recorded a net charge of $11.6 million in the provision for income taxes in 2017. The Company’s accounting for income tax effects of the Act was completed as of December 31, 2018.
(2) | Permanent items relate principally to compensation charges, qualified transportation fringe benefits, reversal of uncertain tax positions and meals and entertainment.
Schedule of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amounts of unrecognized tax benefits consisted of the following (in thousands):
|  | Years Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Beginning balance |  | $ | 1,246 |  |  | $ | — |  |  | $ | — |
Gross increase (decrease) as a result of positions taken: |  |  |  |  |  |  |  |  |  |  |  |
Prior periods |  |  | — |  |  |  | 1,246 |  |  |  | — |
Current period |  |  | — |  |  |  | — |  |  |  | — |
Settlement with tax authorities |  |  | — |  |  |  | — |  |  |  | — |
Expiration of applicable statutes of limitation |  |  | (471 | ) |  |  | — |  |  |  | — |
Ending balance |  | $ | 775 |  |  | $ | 1,246 |  |  | $ | — |

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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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