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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Summary of Provision for Income Taxes | The provision for income taxes is as follows (in thousands):
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 8,806 |  |  | $ | 7,412 |  |  | $ | 5,080 |
State |  |  | 1,381 |  |  |  | 408 |  |  |  | 89 |
|  |  | 10,187 |  |  |  | 7,820 |  |  |  | 5,169 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (774 | ) |  |  | (824 | ) |  |  | 6,310 |
State |  |  | 3,433 |  |  |  | (289 | ) |  |  | (2,271 | )
|  |  | 2,659 |  |  |  | (1,113 | ) |  |  | 4,039 |
Total provision |  | $ | 12,846 |  |  | $ | 6,707 |  |  | $ | 9,208 |
Summary of Deferred Income Tax Assets and Liabilities | Deferred income tax assets and liabilities consist of the following components (in thousands):
|  | December 31, |
|  | 2019 |  |  | 2018 |
Deferred income tax assets: |  |  |  |  |  |  |  |
Workers' compensation claims liabilities |  | $ | 12,151 |  |  | $ | 9,261 |
MCC accrual |  |  | 1,458 |  |  |  | 2,234 |
Customer incentives |  |  | 333 |  |  |  | 2,718 |
Deferred compensation |  |  | 1,988 |  |  |  | 1,541 |
Equity based compensation |  |  | 913 |  |  |  | 994 |
Tax effect of unrealized losses, net |  |  | — |  |  |  | 1,966 |
State credit carryforward |  |  | 923 |  |  |  | 988 |
State loss carryforward |  |  | 33 |  |  |  | 2,396 |
Operating lease liability |  |  | 5,920 |  |  |  | — |
Other |  |  | 1,345 |  |  |  | 1,703 |
|  |  | 25,064 |  |  |  | 23,801 |
Less: valuation allowance |  |  | 173 |  |  |  | 264 |
|  |  | 24,891 |  |  |  | 23,537 |
Deferred income tax liabilities: |  |  |  |  |  |  |  |
Tax depreciation in excess of book depreciation |  |  | (3,421 | ) |  |  | (4,258 | )
Tax amortization of goodwill |  |  | (10,312 | ) |  |  | (9,948 | )
Tax effect of unrealized gains, net |  |  | (1,058 | ) |  |  | — |
Operating lease right-of-use |  |  | (5,588 | ) |  |  | — |
Other |  |  | (1,724 | ) |  |  | (873 | )
|  |  | (22,103 | ) |  |  | (15,079 | )
Net deferred income tax assets |  | $ | 2,788 |  |  | $ | 8,458 |
Summary of Effective Tax Rate Differed from U.S. Statutory Federal Tax Rate | The effective tax rate differed from the U.S. statutory federal tax rate due to the following:
|  | Year Ended December 31, |  |
|  | 2019 |  |  |  | 2018 |  |  |  | 2017 |  |
Statutory federal tax rate |  |  | 21.0 |  | % |  |  | 21.0 |  | % |  |  | 35.0 |  | %
State taxes, net of federal benefit |  |  | 6.2 |  |  |  |  | 0.3 |  |  |  |  | (4.0 | ) |
Adjustment for final positions on filed returns |  |  | (0.2 | ) |  |  |  | (1.1 | ) |  |  |  | (1.1 | ) |
Nondeductible expenses and other, net |  |  | 1.3 |  |  |  |  | 1.2 |  |  |  |  | 1.5 |  |
Federal and state tax credits |  |  | (7.5 | ) |  |  |  | (6.4 | ) |  |  |  | (7.7 | ) |
Change in federal tax rate |  |  | — |  |  |  |  | — |  |  |  |  | 3.2 |  |
Other, net |  |  | 0.2 |  |  |  |  | — |  |  |  |  | (0.1 | ) |
|  |  | 21.0 |  | % |  |  | 15.0 |  | % |  |  | 26.8 |  | %

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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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