XML 53 R39.htm IDEA: XBRL DOCUMENT v3.19.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

The components of income tax expense for the years ended December 31 are summarized as follows:

(in thousands)	2018				2017				2016
Current:
Federal	$	9,156			$	9,163			$	5,745
State	128				71				81
Total current	9,284				9,234				5,826
Deferred:
Federal	(4,064		)		(4,649		)		2,756
State	(10		)		(15		)		34
Total deferred	(4,074		)		(4,664		)		2,790
Total	$	5,210			$	4,570			$	8,616

Schedule of Deferred Tax Assets and Liabilities

At December 31, the approximate tax effect of each component of deferred income tax assets and liabilities is summarized as follows:

(in thousands)	2018				2017
Deferred income tax assets:
Accrued benefits and retirement services	$	2,758			$	2,449
Other-than-temporary impairment of assets	198				265
Allowance for doubtful accounts	82				102
Net operating loss carryforward	28				33
Reinsurance and commission payable	13				—
Postretirement benefit obligation	8				18
Other	359				878
Total	3,446				3,745
Deferred income tax liabilities:
Net unrealized gain on investments	3,924				5,193
Intangible assets	1,250				1,338
Excess of tax over book depreciation	1,104				1,042
Recorded reserve for claims, net of statutory premium reserves	599				4,126
Other	753				672
Total	7,630				12,371
Net deferred income tax liabilities	$	(4,184	)		$	(8,626	)

Schedule of Reconciliation of Income Tax

As computed for the years ended December 31 at the U.S. federal statutory income tax rate of 21.0% for 2018, 35.0% for 2017 and 34.6% for 2016, respectively, to income tax expense follows:

(in thousands)	2018				2017				2016
Anticipated income tax expense	$	5,684			$	10,595			$	9,734
Increase (decrease) related to:
State income taxes, net of federal income tax benefit	101				46				53
Tax-exempt interest income, net of amortization	(1,026		)		(1,298		)		(1,075		)
Tax Cuts and Jobs Act	—				(5,342		)		—
Other, net	451				569				(96		)
Provision for income taxes	$	5,210			$	4,570			$	8,616

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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 http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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 http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration