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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Federal and State Income Taxes

The provision for the federal and state income taxes attributable to (loss) income from continuing operations consisted of the following components:

			Years Ended December 31,
(in thousands)			2024						2023						2022
Current expense (benefit)
Federal taxes			$	—					$	(2,707)					$	(1,406)
State taxes			89						(680)						(363)
Total current provision			89						(3,387)						(1,769)
Deferred (benefit) expense
Federal taxes			(5,238)						4,564						(1,062)
State taxes			(4,521)						(676)						(569)
Total deferred (benefit) expense			(9,759)						3,888						(1,631)
Income tax (benefit) expense			$	(9,670)					$	501					$	(3,400)
Effective tax rate			25.4		%				33.0		%				18.1		%

Schedule of Reconciliation of Income Taxes

A reconciliation of income tax (benefit) expense determined by applying the federal and state tax rates to (loss) income from continuing operations before income taxes is as follows:

			Years Ended December 31,
(in thousands)			2024						2023						2022
Expected tax (benefit) expense at federal statutory			$	(7,986)					$	319					$	(3,952)
State income tax (benefit) expense, net of federal tax effect			(3,159)						268						(802)
Revaluation of deferred tax liabilities			—						(1,373)						—
Excess tax deficiency from share-based compensation and other expense, net			1,475						764						735
Valuation allowance			—						523						619
Income tax (benefit) expense			$	(9,670)					$	501					$	(3,400)

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities are measured using enacted tax rates that are expected to apply in the year of reversal or settlement and arise from temporary differences between the US GAAP and tax bases of the following assets and liabilities:

(in thousands)			December 31, 2024						December 31, 2023
Deferred tax assets:
Net operating loss carryforwards			$	64,599					$	59,814
Business interest limitation carryforwards			11,669						2,290
Accruals and stock-based compensation			5,274						4,075
Leases			4,399						14,208
Other			12,020						8,995
Total gross deferred tax assets			97,961						89,382
Less valuation allowance			—						(523)
Net deferred tax assets			97,961						88,859
Deferred tax liabilities:
Property, plant and equipment			239,180						146,302
Intangible assets			17,866						13,837
Leases			5,356						13,616
Prepaid assets and other			3,275						3,251
Total gross deferred tax liabilities			265,677						177,006
Net deferred tax liabilities			$	167,716					$	88,147

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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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

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- 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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

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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://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

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-Topic 740
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-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

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-Section 50
-Paragraph 12
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