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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | Income tax expense is composed of the following:
| Year Ended December 31, |  |  |  |
| 2019 |  | 2018 |  | 2017
Current: |  |  |  |  |
Federal | $ | 6,426 |  |  | $ | 8,844 |  |  | $ | 14,020 |
State | 412 |  |  | 1,317 |  |  | 379 |
| 6,838 |  |  | 10,161 |  |  | 14,399 |
Deferred: |  |  |  |  |
Federal | 352 |  |  | 55 |  |  | (3,764) |
State | (46) |  |  | 1,480 |  |  | 300 |
| 306 |  |  | 1,535 |  |  | (3,464) |
Total | $ | 7,144 |  |  | $ | 11,696 |  |  | $ | 10,935 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of income tax expense at the normal statutory federal rate to income tax expense included in the accompanying Consolidated Statements of Income is below:
| Year Ended December 31, |  |  |  |
| 2019 |  | 2018 |  | 2017
"Expected" provision at federal statutory rate | $ | 9,654 |  |  | $ | 10,286 |  |  | $ | 18,465 |
State income taxes, net(a) | 1,540 |  |  | 2,029 |  |  | 1,612 |
Change in valuation allowance | (168) |  |  | 1,304 |  |  | (578) |
Domestic production activity deduction | — |  |  | — |  |  | (957) |
Share-based compensation(a) | (2,877) |  |  | (1,201) |  |  | (4,254) |
Compensation limits | 148 |  |  | — |  |  | 931 |
Federal and state tax credits | (1,302) |  |  | (807) |  |  | (1,058) |
Tax benefit from the Tax Act | — |  |  | — |  |  | (3,343) |
Other | 149 |  |  | 85 |  |  | 117 |
Income tax expense | $ | 7,144 |  |  | $ | 11,696 |  |  | $ | 10,935 |
Effective tax rate | 15.6 | % |  | 23.9 | % |  | 20.7 | %
(a)The Company received federal excess tax benefits on share-based compensation awards in 2019, 2018, and 2017 of $2,877, $1,201, and $4,254, respectively, and state benefits of $459, $236 and $371, respectively, for excess tax benefits. The state benefits are part of the State income taxes, net, balances in the above table. Tax benefits from share-based compensation may be substantially less in future years, and in certain instances can create tax determinant.
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences giving rise to deferred income taxes shown on the Consolidated Balance Sheets are as follows:
| December 31, |  |
| 2019 |  | 2018
Deferred income tax assets: |  |  |
Post-retirement liability | $ | 717 |  |  | $ | 770 |
Deferred income | 300 |  |  | 393 |
Share-based compensation | 1,238 |  |  | 1,581 |
Capital loss carryforwards | 91 |  |  | 379 |
State tax credit carryforwards | 3,198 |  |  | 3,245 |
State operating loss carryforwards | 1,529 |  |  | 1,505 |
Inventories | 1,738 |  |  | 1,476 |
Operating lease liabilities | 1,582 |  |  | — |
Other | 1,291 |  |  | 1,231 |
Gross deferred income tax assets | 11,684 |  |  | 10,580 |
Less: valuation allowance | (1,284) |  |  | (1,452) |
Net deferred income tax assets | 10,400 |  |  | 9,128 |
Deferred income tax liabilities: |  |  |
Fixed assets | (10,332) |  |  | (10,497) |
Operating lease right-of-use assets | (1,577) |  |  | — |
Other | (420) |  |  | (308) |
Gross deferred income tax liabilities | (12,329) |  |  | (10,805) |
Net deferred income tax liability | $ | (1,929) |  |  | $ | (1,677) |
Summary of Valuation Allowance | A schedule of the change in valuation allowance is as follows:
Balance at December 31, 2017 | $ | 148 |
Increase | 1,304 |
Balance at December 31, 2018 | 1,452 |
Decrease | (168) |
Balance at December 31, 2019 | $ | 1,284 |
Schedule of Unrecognized Tax Benefits Roll Forward | The following is a reconciliation of the total amount of unrecognized tax benefits (excluding interest and penalties) for 2019, 2018, and 2017:
| Year Ended December 31, |  |  |  |  |  |
| 2019 |  | 2018 |  | 2017 |  |
Beginning of year balance | $ | 193 |  |  | $ | 185 |  |  | $ | 43 |  |  |
Additions based on prior year tax positions | 3 |  |  | 2 |  |  | 130 |  |  |
Additions based on current year tax positions | 78 |  |  | 11 |  |  | 12 |  |  |
Reduction for prior year tax positions | (19) |  |  | (5) |  |  | — |  |  |
End of year balance | $ | 255 |  |  | $ | 193 |  |  | $ | 185 |  |  |

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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 http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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