XML 71 R36.htm IDEA: XBRL DOCUMENT
v3.20.4

Income Taxes Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | The components of income before taxes for domestic and foreign operations consisted of the following:
|  |  | Year ended December 31,
(in thousands) |  |  |  |  | 2020 |  | 2019 |  | 2018
Domestic |  |  |  |  | $ | (361,242) |  |  | $ | 299,330 |  |  | $ | 195,843 |
Foreign |  |  |  |  | 175 |  |  | 1,917 |  |  | 3,475 |
Total |  |  |  |  | $ | (361,067) |  |  | $ | 301,247 |  |  | $ | 199,318 |
Schedule of Components of Income Tax Expense (Benefit) | The provision for income taxes is composed of the following:
| Year ended December 31,
(in thousands) | 2020 |  | 2019 |  | 2018
Current: |  |  |  |  |
Federal | $ | (195,572) |  |  | $ | (34) |  |  | $ | (3,707) |
State | (211) |  |  | 505 |  |  | (650) |
Foreign | 132 |  |  | 530 |  |  | 1,086 |
Total current | (195,651) |  |  | 1,001 |  |  | (3,271) |
Deferred: |  |  |  |  |
Federal | 24,126 |  |  | 63,430 |  |  | 41,593 |
State | (5,449) |  |  | 4,699 |  |  | 3,744 |
Foreign | — |  |  | — |  |  | (4,550) |
Total deferred | 18,677 |  |  | 68,129 |  |  | 40,787 |
Total income tax provision | $ | (176,974) |  |  | $ | 69,130 |  |  | $ | 37,516 |
Schedule of Effective Income Tax Rate Reconciliation | The effective tax rate on income before income taxes differed from the federal statutory income tax rate as follows:
| Year ended December 31,
(in thousands) | 2020 |  | 2019 |  | 2018
Income tax expense at federal statutory rate | $ | (70,459) |  |  | $ | 63,262 |  |  | $ | 41,857 |
State income taxes, net of federal income tax benefit | (5,495) |  |  | 5,070 |  |  | 3,560 |
CARES Act | (97,988) |  |  | — |  |  | — |
Foreign income tax expense | 132 |  |  | 530 |  |  | (3,464) |
Other | (3,164) |  |  | 268 |  |  | (4,437) |
Total income tax expense | $ | (176,974) |  |  | $ | 69,130 |  |  | $ | 37,516 |
Schedule of Deferred Tax Assets and Liabilities | The major components of the Company’s net deferred tax assets and liabilities are as follows:
| As of December 31,
(in thousands) | 2020 |  | 2019
Deferred tax assets: |  |  |
Accrued vacation | $ | 1,024 |  |  | $ | 907 |
Accrued bonus | — |  |  | 5,523 |
State taxes | — |  |  | 88 |
Accrued property taxes | 1,111 |  |  | 1,742 |
Stock-based compensation expense | 1,025 |  |  | 1,415 |
Net operating loss | 15,979 |  |  | 58,066 |
Tax credit | 10,995 |  |  | — |
Less: valuation allowance | 1,214 |  |  | 1,193 |
Total deferred tax assets | 28,920 |  |  | 66,548 |
Deferred tax liabilities: |  |  |
Prepaid expenses | 2,517 |  |  | 6,211 |
Depreciation | 308,266 |  |  | 278,554 |
Other | 20,242 |  |  | 14,522 |
Total deferred tax liabilities | 331,025 |  |  | 299,287 |
Net deferred tax liabilities | $ | 302,105 |  |  | $ | 232,739 |
Summary of Income Tax Contingencies | The reconciliation of the Company's tax contingencies is as follows:
|  | As of December 31,
(in thousands) |  | 2020 |  | 2019 |  | 2018
Beginning Balance |  | $ | 3,970 |  |  | $ | 4,175 |  |  | $ | 778 |
Increases for tax position of prior years |  | — |  |  | — |  |  | 3,364 |
Increases for tax position of current year |  | — |  |  | 146 |  |  | 293 |
Decreases for tax positions of prior years |  | (3,602) |  |  | (135) |  |  | (10) |
Settlements |  | (26) |  |  | (216) |  |  | (110) |
Decreases for lapses in statute of limitations |  | — |  |  | — |  |  | (140) |
Ending Balance |  | $ | 342 |  |  | $ | 3,970 |  |  | $ | 4,175 |

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 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
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319 + Details
Name: | us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration