XML 45 R29.htm IDEA: XBRL DOCUMENT v3.22.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Summary of Provision for Income Taxes

The provision for income taxes is as follows (in thousands):

		Year Ended December 31,
		2021				2020				2019
Current:
Federal		$	9,527			$	2,943			$	8,806
State			3,408				396				1,381
			12,935				3,339				10,187
Deferred:
Federal			143				4,156				(774	)
State			(496	)			1,336				3,433
			(353	)			5,492				2,659
Total provision		$	12,582			$	8,831			$	12,846

Summary of Deferred Income Tax Assets and Liabilities

Deferred income tax assets and liabilities consist of the following components (in thousands):

		December 31,
		2021				2020
Deferred income tax assets:
Workers' compensation claims liabilities		$	7,870			$	9,946
Deferred compensation			6,109				2,235
Operating lease liability			5,870				6,107
Other			1,388				1,154
Payroll tax deferral			749				1,668
Equity based compensation			678				555
State credit carryforward			329				518
MCC accrual			167				1,062
Customer incentives			12				54
			23,172				23,299
Less: valuation allowance			163				163
			23,009				23,136
Deferred income tax liabilities:
Tax amortization of goodwill			(10,120	)			(10,375	)
Tax depreciation in excess of book depreciation			(7,433	)			(7,187	)
Operating lease right-of-use			(5,527	)			(5,766	)
Other			(1,223	)			(1,455	)
Tax effect of unrealized gains, net			(393	)			(2,871	)
			(24,696	)			(27,654	)
Net deferred income taxes		$	(1,687	)		$	(4,518	)

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,
		2021					2020					2019
Statutory federal tax rate			21.0		%			21.0		%			21.0		%
State taxes, net of federal benefit			4.5					3.2					6.2
Adjustment for final positions on filed returns			0.9					0.6					(0.2	)
Nondeductible expenses and other, net			0.5					0.7					1.3
Federal and state tax credits			(2.1	)				(4.9	)				(7.5	)
Other, net			—					0.1					0.2
			24.8		%			20.7		%			21.0		%

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=121826272&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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=121826272&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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=121826272&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration