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Income Taxes
 12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company is subject to income taxation in the United States, foreign countries and various state jurisdictions in which it operates. In accordance with income tax accounting standards, the Company recognizes tax benefits or expenses on the temporary differences between the financial reporting and tax bases of its assets and liabilities.
In 2020, 2019 and 2018, the Company recorded net tax (benefit)/provision of $(177.0) million, $69.1 million and $37.5 million, respectively. Cash taxes, net of refunds, were $(95.2) million, $2.2 million and $41.6 million, respectively.
Components of Income before Income Taxes from Continuing Operations

The components of income before taxes for domestic and foreign operations consisted of the following:
Year ended December 31,
(in thousands)202020192018
Domestic$(361,242)$299,330 $195,843 
Foreign175 1,917 3,475 
Total$(361,067)$301,247 $199,318 

Income Tax Provision/(Benefit)

The provision for income taxes is composed of the following:
Year ended December 31,
(in thousands)202020192018
Current:
Federal$(195,572)$(34)$(3,707)
State(211)505 (650)
Foreign132 530 1,086 
Total current(195,651)1,001 (3,271)
Deferred:
Federal24,126 63,430 41,593 
State(5,449)4,699 3,744 
Foreign— — (4,550)
Total deferred18,677 68,129 40,787 
Total income tax provision$(176,974)$69,130 $37,516 

Reconciliation of Effective Tax Rate

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)202020192018
Income tax expense at federal statutory rate$(70,459)$63,262 $41,857 
State income taxes, net of federal income tax benefit(5,495)5,070 3,560 
CARES Act(97,988)— — 
Foreign income tax expense132 530 (3,464)
Other(3,164)268 (4,437)
Total income tax expense$(176,974)$69,130 $37,516 
Deferred Taxes

The major components of the Company’s net deferred tax assets and liabilities are as follows:
As of December 31,
(in thousands)20202019
Deferred tax assets:
Accrued vacation$1,024 $907 
Accrued bonus— 5,523 
State taxes— 88 
Accrued property taxes1,111 1,742 
Stock-based compensation expense1,025 1,415 
Net operating loss15,979 58,066 
Tax credit10,995 — 
Less: valuation allowance1,214 1,193 
Total deferred tax assets28,920 66,548 
Deferred tax liabilities:
Prepaid expenses2,517 6,211 
Depreciation308,266 278,554 
Other20,242 14,522 
Total deferred tax liabilities331,025 299,287 
Net deferred tax liabilities$302,105 $232,739 

Net Operating Loss and Tax Credit Carryforwards

Pursuant to the CARES Act, the Company carried back net operating losses generated in 2018, 2019 and 2020 in the amounts of $185.4 million, $116.7 million and $422.1 million respectively to tax years ended December 31, 2013 through December 31, 2016. The net operating loss carryback resulted in prior years’ foreign tax credits and general business credits being released, and these credits generated in 2014 - 2020 in the amount of $5.7 million and $5.2 million will be carried forward. The foreign tax credit and general business credits will expire 2024 – 2040, but the Company expects to utilize these credits prior to the expiration.

In addition, as of December 31, 2020, the Company recognized federal and state net operating loss carryforwards for income tax purposes in the amount of $8.5 million and $7.4 million, respectively. Federal net operating loss carryforwards will not expire per the “Tax Cuts and Jobs Act” (the “Tax Act”). The majority of the state net operating loss carryforward amounts will expire between 2022 and 2040 while some state net operating losses have an indefinite carryforward period.

The Company previously recognized a federal capital loss carryforward of $0.7 million, as remeasured pursuant to the Tax Act, as of December 31, 2016 which expired in 2021.

Tax Contingencies

The reconciliation of the Company's tax contingencies is as follows:
As of December 31,
(in thousands)202020192018
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 

The Company's policy is to recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. The Company’s income tax returns are subject to examination by the Internal Revenue Service as well as
other taxing jurisdictions. The timing of the resolution of income tax examinations is uncertain, and the ultimate resolution with these taxing authorities may differ from the amounts accrued. Therefore, the Company cannot currently provide an estimate of the range of possible outcomes in the next twelve months.