XML 54 R41.htm IDEA: XBRL DOCUMENT v3.20.4

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

INCOME TAXES

Summary of components of the federal and state income tax expense (benefit)

​

​	​	​	​	​	​	​	​	​	​
​	​	For the year ended
​	​	December 31,
​		2020			2019			2018
​	​	(in thousands)
Current tax (benefit) expense		​			​			​
Federal income tax (benefit) expense	​	$	(941)	​	$	696	​	$	1,073
State and local income tax (benefit) expense	​		(439)	​		1,034	​		1,077
Total current (benefit) expense	​		(1,380)	​		1,730	​		2,150
Deferred tax (benefit) expense	​			​			​
Federal income tax (benefit) expense	​		(105)	​		49	​		(20)
State and local income tax expense (benefit)	​		9	​		170	​		(426)
Total deferred (benefit) expense	​		(96)	​		219	​		(446)
Total income tax (benefit) expense	​	$	(1,476)	​	$	1,949	​	$	1,704
Tax (benefit) expense attributable to controlling interests	​	$	(1,246)	​	$	1,488	​	$	1,425
Tax (benefit) expense attributable to noncontrolling interests	​		(230)	​		461	​		279
Total income tax (benefit) expense	​	$	(1,476)	​	$	1,949	​	$	1,704

Summary of reconciliation of the provision for income taxes

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the year ended December 31,

​

​

​

2020

​

2019

​

2018

​

​

​

(in thousands)

​

​

​

​

Provision calculated at federal statutory income tax rate:

​

​

​

​

​

​

​

​

(Loss) income before taxes

​

$

(403,208)

​

​

$

6,085

​

​

$

56,003

​

Statutory rate

​

21

%

​

21

%

​

21

%

Income tax (benefit) expense computed at statutory rate

​

(84,674)

​

​

1,278

​

​

11,761

​

Less: noncontrolling interests

​

13,272

​

​

(284)

​

​

(3,735)

​

Income tax (benefit) expense attributable to controlling interests

​

(71,402)

​

​

994

​

​

8,026

​

State and local income taxes, net of federal benefit

​

(430)

​

​

884

​

​

515

​

Change in subsidiary tax status

​

​

(409)

​

​

​

587

​

​

​

—

​

CARES Act NOL carryback benefit

​

​

(459)

​

​

​

—

​

​

​

—

​

Change in valuation allowance

​

71,454

​

​

(1,833)

​

​

(7,696)

​

Deferred adjustment due to restructuring

​

​

—

​

​

​

856

​

​

​

—

​

Other

​

​

—

​

​

​

—

​

​

​

580

​

Income tax (benefit) expense attributable to controlling interests

​

(1,246)

​

​

1,488

​

​

1,425

​

Income tax (benefit) expense attributable to noncontrolling interests

​

(230)

​

​

461

​

​

279

​

Total income tax (benefit) expense

​

$

(1,476)

​

​

$

1,949

​

​

$

1,704

​

Summary of principal components of the deferred tax assets (liabilities)

​

​	​	​	​	​	​	​
​	​	For the year ended
​	​	December 31,
​		2020			2019
​	​	(in thousands)
Deferred tax assets		​			​
Outside basis difference in SES Holdings	​	$	78,918	​	$	27,935
Net operating losses	​		69,601	​		46,782
Credits and other carryforwards	​		4,111	​		1,451
Other	​	​	541	​	​	944
Total deferred tax assets before valuation allowance	​		153,171	​		77,112
Valuation allowance	​	​	(152,659)	​	​	(76,883)
Total deferred tax assets	​	​	512	​	​	229
Deferred tax liabilities	​			​
Property and equipment	​		718	​		540
Other	​		41	​		32
Total deferred tax liabilities	​		759	​		572
Net deferred tax liabilities	​	$	(247)	​	$	(343)

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