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Income Taxes (Tables)

6 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

Components of Income Before Income Taxes

The components of income (loss) before income taxes, as shown in the accompanying Financial Statements, consisted of the following for the three and six months ended June 30, 2023 and 2022:

		Three Months Ended June 30,								Six Months Ended June 30,
		2023				2022				2023				2022
		(Amounts in thousands)								(Amounts in thousands)
Income (loss) before income taxes:
Domestic		$	(5,074	)		$	3,858			$	(2,994	)		$	7,173
Foreign			2,296				(242	)			695				(310	)
Income (loss) before income taxes		$	(2,778	)		$	3,616			$	(2,299	)		$	6,863

Provision for Income Taxes

The provision (benefit) for income taxes, as shown in the accompanying Financial Statements, consisted of the following for the three and six months ended June 30, 2023 and 2022:

		Three Months Ended June 30,								Six Months Ended June 30,
		2023				2022				2023				2022
		(Amounts in thousands)								(Amounts in thousands)
Current provision (benefit):
Federal		$	(894	)		$	932			$	(183	)		$	1,030
State			(136	)			234				34				259
Foreign			591				(35	)			145				51
Total current provision (benefit)			(439	)			1,131				(4	)			1,340
Deferred provision (benefit):
Federal			(154	)			(58	)			(402	)			484
State			(38	)			(12	)			(98	)			125
Foreign			(2	)			(2	)			60				(58	)
Total deferred provision (benefit)			(194	)			(72	)			(440	)			551
Change in valuation allowance			28				121				57				204
Total provision (benefit) for income taxes		$	(605	)		$	1,180			$	(387	)		$	2,095

Reconciliation of Income Taxes

The reconciliation of income taxes computed using the statutory U.S. income tax rate and the provision (benefit) for income taxes for the three and six months ended June 30, 2023 and 2022 were as follows (amounts in thousands):

		Three Months Ended June 30, 2023								Three Months Ended June 30, 2022
Income taxes computed at the federal statutory rate		$	(583	)			(21.0	)%		$	759				21.0	%
State income taxes, net of federal tax benefit			(182	)			(6.5	)			210				5.8
Excess tax expense (benefit) from stock options/restricted shares			17				0.6				68				1.9
Difference in income tax rate on foreign earnings/other			115				4.1				22				0.6
Change in valuation allowance			28				1.0				121				3.3
		$	(605	)			(21.8	)%		$	1,180				32.6	%

		Six Months Ended June 30, 2023								Six Months Ended June 30, 2022
Income taxes computed at the federal statutory rate		$	(483	)			(21.0	)%		$	1,441				21.0	%
State income taxes, net of federal tax benefit			(72	)			(3.1	)			386				5.6
Excess tax expense (benefit) from stock options/restricted shares			40				1.7				(9	)			(0.1	)
Difference in income tax rate on foreign earnings/other			71				3.1				73				1.0
Change in valuation allowance			57				2.5				204				3.0
		$	(387	)			(16.8	)%		$	2,095				30.5	%

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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://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

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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
-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

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

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

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