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Income Taxes | 12 Months Ended
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Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Income Taxes | Income Taxes We file a consolidated federal income tax return, consolidated unitary returns in certain states, other separate state income tax returns for certain of our subsidiary companies, and applicable foreign returns. The provision for income taxes from continuing operations consisted of the following:
|  | For the years ended December 31,
(in thousands) |  | 2020 |  | 2019 |  | 2018
Current: |  |  |  |  |  |
Federal |  | $ | (13,235) |  |  | $ | 6,653 |  |  | $ | 3,865 |
State and local |  | 2,478 |  |  | 2,235 |  |  | 2,331 |
Foreign |  | 107 |  |  | (6) |  |  | 1 |
Total current income tax provision (benefit) |  | (10,650) |  |  | 8,882 |  |  | 6,197 |
Deferred: |  |  |  |  |  |
Federal |  | 57,755 |  |  | (6,346) |  |  | 15,588 |
State and local |  | 8,902 |  |  | 206 |  |  | 1,000 |
Foreign |  | (551) |  |  | 175 |  |  | (4) |
Total deferred income tax provision (benefit) |  | 66,106 |  |  | (5,965) |  |  | 16,584 |
Provision for income taxes |  | $ | 55,456 |  |  | $ | 2,917 |  |  | $ | 22,781 |
The difference between the statutory rate for federal income tax and the effective income tax rate was as follows:
|  | For the years ended December 31,
|  | 2020 |  | 2019 |  | 2018
Statutory rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Effect of: |  |  |  |  |  |
State and local income taxes, net of federal tax benefit |  | 4.5 |  |  | 212.7 |  |  | 3.7 |
Excess tax benefits from stock-based compensation |  | 0.5 |  |  | (60.4) |  |  | 0.7 |
Nondeductible expenses |  | 0.4 |  |  | 118.7 |  |  | 1.2 |
Reserve for uncertain tax positions |  | 0.7 |  |  | (13.7) |  |  | (0.1) |
Other |  | (0.6) |  |  | 12.2 |  |  | (1.9) |
Effective income tax rate |  | 26.5 | % |  | 290.5 | % |  | 24.6 | %
The approximate effect of the temporary differences giving rise to deferred income tax assets (liabilities) were as follows:
|  | As of December 31,
(in thousands) |  | 2020 |  | 2019
Temporary differences: |  |  |  |
Property and equipment |  | $ | (31,003) |  |  | $ | (33,802) |
Goodwill and other intangible assets |  | (119,074) |  |  | (100,841) |
Investments, primarily gains and losses not yet recognized for tax purposes |  | (2,989) |  |  | 3,176 |
Accrued expenses not deductible until paid |  | 7,748 |  |  | 7,694 |
Deferred compensation and retiree benefits not deductible until paid |  | 46,242 |  |  | 54,258 |
Operating lease right-of-use assets |  | (12,480) |  |  | (31,039) |
Operating lease liabilities |  | 12,089 |  |  | 32,632 |
Interest limitation carryforward |  | — |  |  | 12,527 |
Other temporary differences, net |  | 966 |  |  | 3,422 |
Total temporary differences |  | (98,501) |  |  | (51,973) |
Federal and state net operating loss carryforwards |  | 15,532 |  |  | 51,308 |
Valuation allowance for state deferred tax assets |  | (2,875) |  |  | (4,905) |
Net deferred tax liability |  | $ | (85,844) |  |  | $ | (5,570) |
Total federal operating loss carryforwards were $12 million and state operating loss carryforwards were $380 million at December 31, 2020. Our state tax loss carryforwards expire through 2039. Because we file separate state income tax returns for certain of our subsidiary companies, we are not able to use state tax losses of a subsidiary company to offset state taxable income of another subsidiary company. The Company recognizes state net operating loss carryforwards as deferred tax assets, subject to valuation allowances. At each balance sheet date, we estimate the amount of carryforwards that are not expected to be used prior to expiration of the carryforward period. The tax effect of the carryforwards that are not expected to be used prior to their expiration is included in the valuation allowance. The Company has not provided for income taxes, including withholding tax, U.S. state taxes, or tax on foreign exchange rate changes, associated with the undistributed earnings of our non-U.S. subsidiaries because we plan to indefinitely reinvest the unremitted earnings in these entities. On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (the "CARES Act") was enacted and signed into law. The CARES Act includes several provisions for corporations including increasing the amount of deductible interest, allowing companies to carryback certain net operating losses (“NOLs”) and increasing the amount of NOLs that corporations can use to offset income. The CARES Act did not materially affect our year-to-date income tax provision. We received an additional tax refund of $14.0 million from the carryback of NOLs to prior periods in October 2020. On December 27, 2020, the Consolidated Appropriations Act, 2021 was signed and enacted into law, which provided an additional stimulus package providing financial relief for individuals and small businesses. The Appropriations Act contains a variety of tax provisions, including full expensing of business meals in 2021 and 2022, an expansion of the Paycheck Protection Program, and expansion of the employee retention tax credit. We continue to evaluate the Appropriations Act, but do not currently expect it to have a material impact on our income tax provision. A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows:
|  | For the years ended December 31,
(in thousands) |  | 2020 |  | 2019 |  | 2018
Gross unrecognized tax benefits at beginning of year |  | $ | 576 |  |  | $ | 1,112 |  |  | $ | 1,088 |
Increases in tax positions for prior years |  | 166 |  |  | 87 |  |  | 130 |
Decreases in tax positions for prior years |  | (141) |  |  | (387) |  |  | (33) |
Increases in tax positions for current years |  | 1,661 |  |  | — |  |  | 182 |
Decreases in tax positions for current years |  | — |  |  | (167) |  |  | — |
Increases (decreases) from lapse in statute of limitations |  | 114 |  |  | (69) |  |  | (255) |
Gross unrecognized tax benefits at end of year |  | $ | 2,376 |  |  | $ | 576 |  |  | $ | 1,112 |
The total amount of net unrecognized tax benefits that, if recognized, would affect the effective tax rate was $2.4 million at December 31, 2020. We accrue interest and penalties related to unrecognized tax benefits in our provision for income taxes. At December 31, 2020 and 2019, we had accrued interest related to unrecognized tax benefits of less than $0.1 million. We file income tax returns in the U.S. and in various state and local jurisdictions. We are routinely examined by tax authorities in these jurisdictions. At December 31, 2020, we are no longer subject to federal income tax examinations for years prior to 2017. For state and local jurisdictions, we are generally no longer subject to income tax examinations for years prior to 2016. Due to the potential for resolution of federal and state examinations, and the expiration of various statutes of limitation, it is reasonably possible that our gross unrecognized tax benefits balance may change within the next twelve months by as much as $0.2 million.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI http://asc.fasb.org/extlink&oid=116825942&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI http://asc.fasb.org/extlink&oid=116825942&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 + Details
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