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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

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)			2020						2019						2018
Current:
Federal			$	(371)					$	(371)					$	(741)
State			—						—						—
Total current tax benefit			$	(371)					$	(371)					$	(741)
Deferred:
Federal			$	430					$	(1,475)					$	9,872
State			2						(30)						508
Total deferred tax provision (benefit)			432						(1,505)						10,380
Income tax provision (benefit)			$	61					$	(1,876)					$	9,639

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 provision (benefit) is summarized as follows:

			Year Ended December 31,
			2020						2019						2018
Statutory federal tax rate			21.00		%				21.00		%				21.00		%
State income taxes, net of federal income taxes			0.89						1.20						4.50
Permanent tax differences – stock compensation			(0.43)						(0.70)						22.00
Permanent tax differences – business meals			(0.07)						(0.90)						(5.00)
Permanent tax differences – executive compensation and other			(0.86)						—						(0.20)
Purchase price allocation adjustment – merger			—						5.90						—
Change in valuation allowance			(19.09)						(32.30)						(144.50)
FICA credit generated			0.33						2.80						8.50
Impact of Tax Cuts and Jobs Act			—						—						(4.80)
Impact of ASC 842			—						7.70						—
Change in tax rate and apportionment			0.11						(0.30)						(4.30)
Deferred only adjustment to beginning deferred balances			(1.92)						0.10						17.30
Effective tax rate			(0.04)		%				4.50		%				(85.50)		%

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)			2020						2019
Deferred tax assets:
Accruals and reserves			$	4,315					$	5,346
Share-based compensation expense			5,469						4,958
Alternative minimum tax credit carryforward			—						371
General business credit carryforward			4,500						3,936
State tax credits			5,500						5,500
Net operating loss carryforwards			42,146						27,269
Operating lease obligation			42,039						46,525
Amortization of intangible assets			1,073						—
Other			647						583
			105,689						94,488
Valuation allowances			(62,724)						(36,652)
			$	42,965					$	57,836
Deferred tax liabilities:
Prepaid services			$	(715)					$	(288)
Amortization of intangible assets			—						(7,760)
Depreciation of fixed assets			(5,104)						(7,534)
Right-of-use assets			(38,666)						(43,342)
			(44,485)						(58,924)
Net deferred tax liabilities			$	(1,520)					$	(1,088)

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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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
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