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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2017
Income Tax Disclosure [Abstract] |
Components of Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2017 and 2016 were as follows (in thousands):
| 2017 |  | 2016
Deferred tax liabilities: |  |  |
Property, plant and equipment | $ | 17,605 |  |  | $ | 27,468 |
Prepaid insurance | 453 |  |  | 766 |
Total deferred tax liabilities: | 18,058 |  |  | 28,234 |
Deferred tax assets: |  |  |
Employee benefits | 962 |  |  | 1,303 |
Uncompleted contracts | 2,664 |  |  | 106 |
Stock based compensation expense | 350 |  |  | 1,488 |
Allowance for uncollectible accounts | 99 |  |  | 192 |
Long term incentive awards | 280 |  |  | 264 |
Federal net operating losses | 13,190 |  |  | 617 |
State net operating losses | 511 |  |  | — |
AMT credit carryforwards | — |  |  | 1,030 |
Other | 394 |  |  | — |
Less valuation allowance | (392 | ) |  | — |
Total deferred tax assets: | 18,058 |  |  | 5,000 |
Net deferred tax liabilities: | $ | — |  |  | $ | 23,234 |
Components of Income Tax Expense | Significant components of income tax expense (benefit) for the years ended December 31 were as follows (in thousands):
| 2017 |  | 2016 |  | 2015
Current: |  |  |  |  |
Federal | $ | — |  |  | $ | 302 |  |  | $ | 219 |
State | 83 |  |  | 361 |  |  | 473 |
Total current | 83 |  |  | 663 |  |  | 692 |
Deferred: |  |  |  |  |
Federal | (23,827 | ) |  | 1,549 |  |  | (13,614 | )
State | (449 | ) |  | (171 | ) |  | (447 | )
Total deferred | (24,276 | ) |  | 1,378 |  |  | (14,061 | )
Income taxes | $ | (24,193 | ) |  | $ | 2,041 |  |  | $ | (13,369 | )
Reconciliation of Income Tax | A reconciliation of income taxes computed at the U.S. federal statutory tax rate to the Company’s income tax (benefit) expense for the years ended December 31, 2017, 2016 and 2015 is as follows (in thousands):
| 2017 |  | % |  | 2016 |  | % |  | 2015 |  | %
U.S. statutory rate | $ | (24,136 | ) |  | 35.0% |  | $ | 1,945 |  |  | 35.0% |  | $ | (13,556 | ) |  | 35.0%
Increase (decrease) resulting from: |  |  |  |  |  |  |  |  |  |  |
Permanent differences | 330 |  |  | (0.5)% |  | 64 |  |  | 1.1% |  | 275 |  |  | (0.7)%
State income taxes | (366 | ) |  | 0.5% |  | 32 |  |  | 0.6% |  | — |  |  | —%
Vesting of common stock | 253 |  |  | (0.4)% |  | — |  |  | —% |  | — |  |  | —%
Other | (274 | ) |  | 0.5% |  | — |  |  | —% |  | (88 | ) |  | 0.2%
Income tax (benefit) expense | $ | (24,193 | ) |  | 35.1% |  | $ | 2,041 |  |  | 36.7% |  | $ | (13,369 | ) |  | 34.5%

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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://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=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://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=84230637&loc=d3e32537-109319 + Details
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