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INCOME TAXES | 12 Months Ended
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Dec. 31, 2014
Income Tax Disclosure [Abstract] |
INCOME TAXES | 7. INCOME TAXES Significant components of the Company’s deferred tax assets and liabilities as of December 31 were as follows (in thousands):
|  | 2014 |  |  | 2013 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Property, plant and equipment |  | $ | 38,070 |  |  | $ | 38,397 |
Prepaid insurance |  |  | 1,310 |  |  |  | — |
Total deferred tax liabilities: |  |  | 39,380 |  |  |  | 38,397 |
Deferred tax assets: |  |  |  |  |  |  |  |
Employee benefits |  |  | 951 |  |  |  | 677 |
Uncompleted contracts |  |  | 391 |  |  |  | 931 |
Stock based compensation expense |  |  | 43 |  |  |  | 65 |
Allowance for uncollectible accounts |  |  | 1,261 |  |  |  | 311 |
Federal net operating loss |  |  | — |  |  |  | 7,584 |
Other |  |  | — |  |  |  | 359 |
Total deferred tax assets: |  |  | 2,646 |  |  |  | 9,927 |
Net deferred tax liabilities: |  | $ | 36,734 |  |  | $ | 28,470 |
We utilized our entire federal net operating loss in 2014. Significant components of income tax expense for the years ended December 31 were as follows (in thousands):
|  | 2014 |  |  | 2013 |  |  | 2012 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | (105 | ) |  | $ | — |  |  | $ | — |
State |  |  | 459 |  |  |  | 254 |  |  |  | 534 |
Total current |  |  | 354 |  |  |  | 254 |  |  |  | 534 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 8,120 |  |  |  | 4,049 |  |  |  | (1,749 | )
State |  |  | 30 |  |  |  | — |  |  |  | (99 | )
Total deferred |  |  | 8,150 |  |  |  | 4,049 |  |  |  | (1,848 | )
Income taxes |  | $ | 8,504 |  |  | $ | 4,303 |  |  | $ | (1,314 | )
A reconciliation of income taxes computed at the U.S. federal statutory tax rate to the Company’s income tax expense for the years ended December 31 is as follows (in thousands):
|  | 2014 |  |  | % |  |  | 2013 |  |  | % |  |  | 2012 |  |  | % |
U.S. statutory rate |  | $ | 8,338 |  |  |  | 35.0 | % |  | $ | 4,037 |  |  |  | 35.0 | % |  | $ | (1,892 | ) |  |  | 35.0 | %
Increase (decrease) resulting from: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State income taxes |  |  | 311 |  |  |  | 1.0 |  |  |  | 317 |  |  |  | 2.7 |  |  |  | 783 |  |  |  | (14.5 | )
Qualified Production Activities |  |  | (21 | ) |  |  | (0.1 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other |  |  | (124 | ) |  |  | (0.2 | ) |  |  | (51 | ) |  |  | (0.4 | ) |  |  | (205 | ) |  |  | 3.8 |
Income tax expense |  | $ | 8,504 |  |  |  | 35.7 | % |  | $ | 4,303 |  |  |  | 37.3 | % |  | $ | (1,314 | ) |  |  | 24.3 | %

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
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