XML 29 R21.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Reconciliation of Income Tax | A reconciliation of the U.S. federal statutory tax rate to our income tax (expense) benefit for 2023 and 2022, is as follows (in thousands):
|  | Years Ended December 31, |
|  | 2023 |  |  | 2022 |
U.S. statutory rate |  |  | 21.0 | % |  |  | 21.0 | %
Increase (decrease) resulting from: |  |  |  |  |  |
Permanent differences |  |  | (1.0 | )% |  |  | (5.1 | )%
State income taxes |  |  | (0.3 | )% |  |  | 5.7 | %
Discrete items |  |  |  |  |  |
Vesting of common stock |  |  | (0.2 | )% |  |  | (1.0 | )%
Change in valuation allowance |  |  | (19.4 | )% |  |  | (23.1 | )%
Return to provision and other |  |  | 0.1 | % |  |  | 1.8 | %
Income tax (expense) benefit |  |  | 0.2 | % |  |  | (0.7 | )%
Components of Income Tax Expense | Significant components of our income tax (expense) benefit for 2023 and 2022, were as follows (in thousands):
|  | Years Ended December 31, |
|  | 2023 |  |  | 2022 |
Current |  |  |  |  |  |
Federal |  | $ | — |  |  | $ | — |
State |  |  | — |  |  |  | — |
Total current |  |  | — |  |  |  | — |
Deferred |  |  |  |  |  |
Federal |  |  | 4,933 |  |  |  | 556 |
State |  |  | (24 | ) |  |  | 166 |
Valuation allowance |  |  | (4,868 | ) |  |  | (745 | )
Total deferred |  |  | 41 |  |  |  | (23 | )
Income tax (expense) benefit |  | $ | 41 |  |  | $ | (23 | )
Components of Deferred Tax Assets and Liabilities | Significant components of our deferred tax assets and liabilities at December 31, 2023 and 2022, were as follows (in thousands):
|  | December 31, |
|  | 2023 |  |  | 2022 |
Deferred tax assets |  |  |  |  |  |
Leases |  | $ | 144 |  |  | $ | 221 |
Employee benefits |  |  | 1,499 |  |  |  | 1,465 |
Accrued losses on uncompleted contracts |  |  | 77 |  |  |  | 2,076 |
Stock based compensation expense |  |  | 373 |  |  |  | 351 |
Debt interest |  |  | 516 |  |  |  | - |
Federal net operating losses |  |  | 28,413 |  |  |  | 22,444 |
State net operating losses |  |  | 3,407 |  |  |  | 3,493 |
R&D and other tax credits |  |  | 1,037 |  |  |  | 1,013 |
Other |  |  | 242 |  |  |  | 481 |
Total deferred tax assets |  |  | 35,708 |  |  |  | 31,544 |
Deferred tax liabilities |  |  |  |  |  |
Depreciation |  |  | (564 | ) |  |  | (1,051 | )
Prepaid insurance |  |  | (280 | ) |  |  | (497 | )
Total deferred tax liabilities |  |  | (844 | ) |  |  | (1,548 | )
Net deferred tax assets |  |  | 34,864 |  |  |  | 29,996 |
Valuation allowance |  |  | (34,927 | ) |  |  | (30,100 | )
Net deferred taxes (1) |  | $ | (63 | ) |  | $ | (104 | )
(1) Amounts are included in other noncurrent liabilities on our Balance Sheet.

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration