XML 30 R18.htm IDEA: XBRL DOCUMENT
v3.21.2

Income Taxes | 6 Months Ended
--- | ---
Jun. 30, 2021
Income Tax Disclosure [Abstract] |
Income Taxes |
11. | Income Taxes
The Company’s effective tax rate for the three and six months ended June 30, 2021 was 26.4% and 27.2%, respectively, compared to 28.4% and 31.1% , respectively, for the three and six months ended June 30, 2020. The Company provides for the effects of income taxes in interim financial statements based on the Company’s estimate of its annual effective tax rate for the full year, which is based on forecasted income by jurisdiction where the Company operates, adjusted for any tax effects of items that relate discretely to the period, if any. The provision for income taxes differs from the amount computed by applying the U.S. federal statutory rate to income before provision for income taxes and consisted of the following (dollars in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
|  | Amount |  |  | Rate |  |  | Amount |  |  | Rate |  |  | Amount |  |  | Rate |  |  | Amount |  |  | Rate |
Income tax expense at the federal statutory rate |  | $ | 8,994 |  |  |  | 21.0 | % |  | $ | 31 |  |  |  | 21.0 | % |  | $ | 13,425 |  |  |  | 21.0 | % |  | $ | 4,018 |  |  |  | 21.0 | %
State income tax expense, net of federal benefit |  |  | 1,999 |  |  |  | 4.7 | % |  |  | (69 | ) |  |  | (46.8 | )% |  |  | 3,046 |  |  |  | 4.8 | % |  |  | 950 |  |  |  | 5.0 | %
(Windfall) shortfall tax benefits, net related to stock-based compensation |  |  | (52 | ) |  |  | (0.1 | )% |  |  | 90 |  |  |  | 61.2 | % |  |  | (79 | ) |  |  | (0.1 | )% |  |  | 73 |  |  |  | 0.4 | %
Change in valuation allowance |  |  | 17 |  |  |  | 0.0 | % |  |  | 96 |  |  |  | 65.4 | % |  |  | 188 |  |  |  | 0.3 | % |  |  | 460 |  |  |  | 2.4 | %
Permanent and other items (1) |  |  | 339 |  |  |  | 0.8 | % |  |  | (106 | ) |  |  | (72.4 | )% |  |  | 803 |  |  |  | 1.2 | % |  |  | 458 |  |  |  | 2.3 | %
|  | $ | 11,297 |  |  |  | 26.4 | % |  | $ | 42 |  |  |  | 28.4 | % |  | $ | 17,383 |  |  |  | 27.2 | % |  | $ | 5,959 |  |  |  | 31.1 | %
(1) | Permanent items relate principally to compensation charges, qualified transportation fringe benefits and meals and entertainment.

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI http://asc.fasb.org/extlink&oid=116825942&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI http://asc.fasb.org/extlink&oid=116825942&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration