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Income Taxes (Tables)

3 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Components of Income Before Income Taxes

The components of income before income taxes, as shown in the accompanying Financial Statements, consisted of the following for the three months ended March 31, 2022, and 2021:

		Three Months Ended March 31,
		2022				2021
		(Amounts in thousands)
Income before income taxes:
Domestic		$	3,315			$	1,881
Foreign			(68	)			(244	)
Income before income taxes		$	3,247			$	1,637

Provision for Income Taxes

The provision for income taxes, as shown in the accompanying Financial Statements, consisted of the following for the three months ended March 31, 2022, and 2021:

		Three Months Ended March 31,
		2022				2021
		(Amounts in thousands)
Current provision:
Federal		$	98			$	358
State			25				93
Foreign			86				10
Total current provision			209				461
Deferred provision (benefit):
Federal			542				(6	)
State			137				(2	)
Foreign			(56	)			(42	)
Total deferred provision (benefit)			623				(50	)
Change in valuation allowance			83				32
Total provision for income taxes		$	915			$	443

Reconciliation of Income Taxes

The reconciliation of income taxes computed using the statutory U.S. income tax rate and the provision for income taxes for the three months ended March 31, 2022, and 2021 were as follows (amounts in thousands):

		Three Months Ended March 31, 2022								Three Months Ended March 31, 2021
Income taxes computed at the federal statutory rate		$	682				21.0	%		$	344				21.0	%
State income taxes, net of federal tax benefit			176				5.4				104				6.3
Excess tax benefits from stock options/restricted shares			(77	)			(2.4	)			(67	)			(4.1	)
Difference in tax rate on foreign earnings/other			51				1.6				30				1.9
Change in valuation allowance			83				2.6				32				2.0
		$	915				28.2	%		$	443				27.1	%

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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=121826272&loc=d3e32639-109319

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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=121826272&loc=d3e32687-109319

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- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

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