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Income Taxes (Tables)

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Provision

The income tax (benefit)/provision for the three and nine months ended September 30, 2022 and 2021, respectively, is comprised of the following components (dollar amounts in thousands):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2022						2021						2022						2021
Current income tax expense			$	2,089					$	226					$	2,320					$	497
Deferred income tax (benefit)/expense			(2,419)						989						(2,582)						799
Total income tax (benefit)/provision			$	(330)					$	1,215					$	(262)					$	1,296

Schedule of Deferred Tax Assets and Liabilities

The major sources of temporary differences included in the deferred tax assets (liabilities) and their deferred tax effect as of September 30, 2022 and December 31, 2021, respectively, are as follows (dollar amounts in thousands):

			September 30, 2022						December 31, 2021
Deferred tax assets
Net operating loss carryforward			$	3,054					$	3,615
Capital loss carryover			5,558						7,549
GAAP/Tax basis differences			1,269						254
Total deferred tax assets (1)			9,881						11,418
Deferred tax liabilities
GAAP/Tax basis differences			412						6,681
Total deferred tax liabilities (2)			412						6,681
Valuation allowance (1)			(7,286)						(5,136)
Total net deferred tax asset (liability)			$	2,183					$	(399)

(1)Included in other assets in the accompanying condensed consolidated balance sheets.

(2)Included in other liabilities in the accompanying condensed consolidated balance sheets.

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- References

No definition available.

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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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

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