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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Provision (Benefit)

Income tax provision (benefits) are summarized as follows:

	Year Ended December 31,
(In thousands)	2019				2018				2017
Current:
Federal	$	(371	)		$	(741	)		$	(91	)
State		—				—				(5	)
Total current tax benefit		(371	)			(741	)			(96	)
Deferred:
Federal	$	(1,475	)		$	9,872			$	(7,456	)
State		(30	)			508				(369	)
Total deferred tax benefit		(1,505	)			10,380				(7,825	)
Income tax (benefit) provision	$	(1,876	)		$	9,639			$	(7,921	)

Schedule of Effective Income Tax Rate Reconciliation

Reconciliation of the statutory federal income tax rate to the Company’s actual rate based on income (loss) before income tax benefit is summarized as follows:

	Year Ended December 31,
	2019				2018				2017
Statutory federal tax rate		21.0	%			21.0	%			35.0	%
State income taxes, net of federal income taxes		1.2				4.5				2.0
Permanent tax differences – stock compensation		(0.7	)			22.0				—
Permanent tax differences – business meals		(0.9	)			(5.0	)			—
Permanent tax differences – executive compensation		(0.1	)			(0.2	)			(12.5	)
Permanent tax differences – other		0.1				—				(17.0	)
Purchase price allocation adjustment – merger		5.9				—				—
Change in valuation allowance		(32.3	)			(144.5	)			193.5
FICA credit generated		2.8				8.5				11.8
Impact of Tax Cuts and Jobs Act		—				(4.8	)			(74.6	)
Impact of ASC 842		7.7				—				—
Change in tax rate and apportionment		(0.3	)			(4.3	)			—
Deferred only adjustment to beginning deferred balances		0.1				17.3				—
Other, net		—				—				(0.4	)
Effective tax rate		4.5	%		(85.5%)					137.8	%

Schedule of Deferred Tax Assets and Liabilities

The Company’s current and non-current deferred tax assets (liabilities) are comprised of the following:

	December 31,
(In thousands)	2019				2018
Deferred tax assets:
Accruals and reserves	$	5,346			$	3,854
Share-based compensation expense		4,958				3,758
Alternative minimum tax credit carryforward		371				741
General business credit carryforward		3,936				2,447
State tax credits		5,500				5,500
Net operating loss carryforwards		27,269				19,156
Operating lease obligation		46,525
Other		583				944
		94,488				36,400
Valuation allowances		(36,652	)			(23,276	)
	$	57,836			$	13,124
Deferred tax liabilities:
Prepaid services		(288	)			(876	)
Amortization of intangible assets		(7,760	)			(9,519	)
Depreciation of fixed assets		(7,534	)			(5,322	)
Right-of-use assets		(43,342	)
		(58,924	)			(15,717	)
Net deferred tax assets (liabilities)	$	(1,088	)		$	(2,593	)

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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.

+ References

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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
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