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v3.22.2.2

Income Taxes (Tables) | 9 Months Ended
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Sep. 30, 2022
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | The components of the Company's consolidated provision for income taxes from continuing operations are as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
| (In thousands)
Current income tax expense: |  |  |  |  |  |  |
Federal | $ | 142 |  |  | $ | 2 |  |  | $ | 1,442 |  |  | $ | 2 |
State | 291 |  |  | 284 |  |  | 486 |  |  | 52 |
Total current income tax expense | 433 |  |  | 286 |  |  | 1,928 |  |  | 54 |
Deferred income tax expense (benefit): |  |  |  |  |  |  |
Federal | 15,460 |  |  | (6,427) |  |  | 22,439 |  |  | 14,202 |
State | 424 |  |  | 2,204 |  |  | 763 |  |  | (717) |
Total deferred income tax expense (benefit) | 15,884 |  |  | (4,223) |  |  | 23,202 |  |  | 13,485 |
Total income tax expense (benefit) | $ | 16,317 |  |  | $ | (3,937) |  |  | $ | 25,130 |  |  | $ | 13,539 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the statutory federal income tax rate to the Company's effective income tax rate is as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Tax at statutory rate | 21.0 | % |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Nondeductible compensation | 0.1 | % |  | (32.1) | % |  | 0.2 | % |  | (1.3) | %
Transaction costs | — | % |  | (47.7) | % |  | — | % |  | (2.1) | %
Stock compensation | — | % |  | 0.2 | % |  | (0.1) | % |  | (0.1) | %
State income taxes, net of federal benefit | 0.8 | % |  | 22.9 | % |  | 0.8 | % |  | (1.6) | %
Change in tax status | — | % |  | (0.5) | % |  | — | % |  | (53.4) | %
Income subject to taxation by REP LLC's unitholders | — | % |  | — | % |  | — | % |  | (15.8) | %
Other | (0.5) | % |  | — | % |  | (0.3) | % |  | — | %
Effective income tax rate | 21.4 | % |  | (36.2) | % |  | 21.6 | % |  | (53.3) | %

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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 + Details
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- Definition 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 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
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