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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Taxes [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | Income tax expense for the years ended December 31, 2019, 2018 and 2017 consisted of the following (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2019 | ​ | 2018 | ​ | 2017
Current | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | $ | 11,024 | ​ | $ | 16,398 | ​ | $ | 12,448
State | ​ | ​ | 1,825 | ​ | ​ | 1,048 | ​ | ​ | 780
Total current | ​ | ​ | 12,849 | ​ | ​ | 17,446 | ​ | ​ | 13,228
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | ​ | 2,323 | ​ | ​ | (2,393) | ​ | ​ | (667)
State | ​ | ​ | (729) | ​ | ​ | (89) | ​ | ​ | (63)
Foreign | ​ | ​ | 4 | ​ | ​ | (205) | ​ | ​ | 107
Total deferred | ​ | ​ | 1,598 | ​ | ​ | (2,687) | ​ | ​ | (623)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Provision for income taxes | ​ | $ | 14,447 | ​ | $ | 14,759 | ​ | $ | 12,605
​
Schedule Of Components Of Total Income Tax Provision | The total provision for income taxes for the years ended December 31, 2019, 2018 and 2017 was $14.5 million, $14.8 million and $12.7 million, respectively. Those amounts have been allocated to the following financial statement items:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2019 | ​ | 2018 | ​ | 2017
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income from operations | ​ | $ | 14,447 | ​ | $ | 14,759 | ​ | $ | 12,605
Stockholders' equity, unrealized losses on | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
investment securities & foreign currency | ​ | ​ | 75 | ​ | ​ | 43 | ​ | ​ | 52
Total provision for income taxes | ​ | $ | 14,522 | ​ | $ | 14,802 | ​ | $ | 12,657
​
Schedule of Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets (liabilities) consisted of the following (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2019 | ​ | December 31, 2018
​ | ​ | ​ | ​ | ​ | ​ | ​
Reserves on inventory and sales | ​ | $ | 745 | ​ | $ | 647
Credit and loss carryforwards | ​ | ​ | 1,269 | ​ | ​ | 681
Stock compensation | ​ | ​ | 756 | ​ | ​ | 812
Accrued expenses and deferred costs | ​ | ​ | 2,639 | ​ | ​ | 2,473
Inventory capitalization | ​ | ​ | 307 | ​ | ​ | 275
Unrealized gain on investments | ​ | ​ | - | ​ | ​ | 65
Total deferred tax assets | ​ | ​ | 5,716 | ​ | ​ | 4,953
​ | ​ | ​ | ​ | ​ | ​ | ​
Unrealized loss on investments | ​ | ​ | (10) | ​ | ​ | -
Prepaid expenses | ​ | ​ | (1,034) | ​ | ​ | (774)
Depreciation | ​ | ​ | (3,365) | ​ | ​ | (1,199)
Total deferred tax liabilities | ​ | ​ | (4,409) | ​ | ​ | (1,973)
​ | ​ | ​ | ​ | ​ | ​ | ​
Net deferred tax assets | ​ | $ | 1,307 | ​ | $ | 2,980
​
Schedule of Effective Income Tax Rate Reconciliation | The reconciliation of the United States federal statutory tax provision to the Company’s provision for income taxes for the years ended December 31, 2019, 2018 and 2017 (in thousands, except percentages):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2019 | ​ | 2018 | ​ | 2017
Statutory federal tax | ​ | $ | 19,396 | ​ | 21.0% | ​ | $ | 14,815 | ​ | 21.0% | ​ | $ | 14,114 | ​ | 35.0%
State income taxes, net of federal benefit | ​ | ​ | 864 | ​ | 0.9% | ​ | ​ | 769 | ​ | 1.1% | ​ | ​ | 446 | ​ | 1.1%
Foreign taxes | ​ | ​ | 4 | ​ | 0.0% | ​ | ​ | 174 | ​ | 0.3% | ​ | ​ | (77) | ​ | -0.2%
Domestic manufacturer deduction | ​ | ​ | - | ​ | 0.0% | ​ | ​ | - | ​ | 0.0% | ​ | ​ | (870) | ​ | -2.2%
Share-based compensation | ​ | ​ | (6,424) | ​ | -7.0% | ​ | ​ | (1,852) | ​ | -2.6% | ​ | ​ | (1,191) | ​ | -3.0%
Other permanent differences | ​ | ​ | 1,004 | ​ | 1.1% | ​ | ​ | 615 | ​ | 0.8% | ​ | ​ | 147 | ​ | 0.4%
Research and development and jobs credits | ​ | ​ | (579) | ​ | -0.6% | ​ | ​ | (85) | ​ | -0.1% | ​ | ​ | - | ​ | 0.0%
Effect of Federal tax law change | ​ | ​ | - | ​ | 0.0% | ​ | ​ | - | ​ | 0.0% | ​ | ​ | (222) | ​ | -0.6%
Other | ​ | ​ | 182 | ​ | 0.2% | ​ | ​ | 323 | ​ | 0.4% | ​ | ​ | 258 | ​ | 0.8%
Provision for income taxes | ​ | $ | 14,447 | ​ | 15.6% | ​ | $ | 14,759 | ​ | 20.9% | ​ | $ | 12,605 | ​ | 31.3%
​

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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 http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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- 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
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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 http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
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