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Note 12 - Federal and State Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		2024				2023
		(in thousands)
Deferred tax liabilities:
Property and equipment		$	89,960			$	101,623
Unrealized gains on securities			3,987				3,282
Prepaid expenses and other			2,880				3,303
Total deferred tax liabilities			96,827				108,208
Deferred tax assets:
Current expected credit losses			1,708				1,986
Compensated absences			-				168
Self-insurance allowances			1,063				1,674
Interest			1,509				-
Other			-				49
Total deferred tax assets			4,280				3,877
Net deferred tax liability		$	92,547			$	104,331

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		2024								2023								2022
		(in thousands)
		Amount				Percent				Amount				Percent				Amount				Percent
Federal income tax at statutory rate		$	(8,725	)			21.0			$	6,002				21.0			$	24,991				21.0
Nondeductible per diem and meals			247				(0.6	)			371				1.3				-				-
State income taxes/other, net			(1,273	)			3.1				3,790				13.3				3,344				2.8
Total income tax expense		$	(9,751	)			23.5			$	10,163				35.6			$	28,335				23.8

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		2024				2023				2022
		(in thousands)
Current:
Federal		$	945			$	4,697			$	10,673
State			1,089				2,580				3,121
Total current income tax provision			2,034				7,277				13,794
Deferred:
Federal			(9,248	)			944				12,920
State			(2,537	)			1,942				1,621
Total deferred income tax provision			(11,785	)			2,886				14,541
Total income tax provision expense		$	(9,751	)		$	10,163			$	28,335

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

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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.

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