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Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The provision (benefit) for income taxes for the years ended December 31, 2015, 2016 and 2017 consisted of the following (in thousands):

	Year Ended December 31,
	2015				2016				2017
Current:
U. S. federal provision	$	9,840			$	6,609			$	6,425
State provision	862				1,195				815
Total current provision	$	10,702			$	7,804			$	7,240
Deferred:
U. S. federal provision (benefit)	$	1,928			$	3,475			$	(12,881	)
State provision	1,107				1,381				1,230
Total deferred provision (benefit)	$	3,035			$	4,856			$	(11,651	)
Total income tax provision (benefit)	$	13,737			$	12,660			$	(4,411	)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of taxes calculated at the U.S. federal statutory rate to those reflected in the Consolidated Statements of Operations for the years ended December 31, 2015, 2016 and 2017 is as follows (dollars in thousands):

	Year Ended December 31,
	2015							2016						2017
	Amount				Percent			Amount				Percent		Amount				Percent
Federal statutory rate	$	12,105			35.0		%	$	11,300			35.0	%	$	11,474			35.0		%
Effect of state income taxes, net of federal benefit	1,618				4.7			1,127				3.5		1,304				4.0
Effect of non-deductible expenses and other, net	155				0.4			213				0.7		(36		)		(0.1	)
Change in valuation allowance	(141		)		(0.4	)		20				0.1		23				0.1
Re-measurement of deferred taxes due to tax reform	—				—			—				—		(17,176		)		(52.4	)
Total	$	13,737			39.7		%	$	12,660			39.3	%	$	(4,411	)		(13.5	)	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences from total operations that give rise to significant deferred tax assets and liabilities at December 31, 2016 and 2017 were as follows (in thousands):

	Year Ended December 31,
	2016				2017
Deferred income tax assets:
Net operating loss carryforwards	$	1,947			$	1,978
Tax credit carryforwards	135				133
State bonus depreciation	373				494
Accrued liabilities and other	11,163				6,136
Amortization of non-compete agreements	1,433				873
Preneed liabilities, net	9,315				5,239
Total deferred income tax assets	24,366				14,853
Less valuation allowance	(209		)		(244		)
Total deferred income tax assets	$	24,157			$	14,609
Deferred income tax liabilities:
Depreciation and amortization	$	(57,716	)		$	(41,447	)
Convertible subordinated notes due 2021	(8,636		)		(4,096		)
Prepaids and other	(615		)		(225		)
Total deferred income tax liabilities	(66,967		)		(45,768		)
Total net deferred tax liabilities	$	(42,810	)		$	(31,159	)
Current deferred tax asset	$	—			$	—
Non-current deferred tax liabilities	(42,810		)		(31,159		)
Total net deferred tax liabilities	$	(42,810	)		$	(31,159	)

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

	Year Ended December 31,
	2015				2016				2017
Unrecognized tax benefit at beginning of year	$	515			$	814			$	—
Reductions based on tax positions related to the prior year	—				(17		)		—
Reductions for tax year 2011 federal audit	—				(568		)		—
Additions (reductions) based on tax positions related to the current year	299				(229		)		—
Reductions as a result of a lapse of the applicable statute of limitations	—				—				—
Unrecognized tax benefit at end of year	$	814			$	—			$	—

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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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.

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-Topic 740
-SubTopic 10
-Section 50
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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.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
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Tabular disclosure of the change in unrecognized tax benefits.

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-SubTopic 10
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