INCOME TAXES Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Income Tax Expense (Benefit)

The income tax expense (benefit) consists of the following for the years ended December 31, 2020, 2019 and 2018 (in thousands):


	2020		2019		2018
US federal income tax expense (benefit):
Current	$	(69)	$	—	$	—
Deferred	996		(3,072)		(2,688)
	927		(3,072)		(2,688)
State income tax expense (benefit):
Current	1,707		2,074		1,176
Deferred	199		(1,276)		(1,141)
	1,906		798		35
Total income tax expense (benefit)	$	2,833	$	(2,274)	$	(2,653)

Schedule of Effective Income Tax Rate Reconciliation

The difference between the statutory federal income tax rate and the effective tax rate is as follows for the years ended December 31, 2020, 2019 and 2018:


	2020		2019		2018
US federal statutory tax rate	21.0	%	21.0	%	21.0	%
State and local income taxes net of federal tax benefit	(29.5)		(0.5)		2.4
Valuation allowance	(29.9)		(13.4)		0.0
Stock-based compensation	6.7		0.0		0.0
Non-deductible compensation	(16.3)		(0.7)		0.0
Changes in uncertain tax positions	0.0		0.0		14.7
Non-deductible expenses	(8.2)		(2.8)		(7.5)
Other, net	2.2		(0.7)		(0.3)
Effective income tax rate	(54.0)	%	2.9	%	30.3	%

Schedule of Deferred Tax Assets and Liabilities

The components of deferred income tax assets and liabilities using the 21% U.S. Federal statutory tax rate were as follows as of December 31, 2020 and 2019 (in thousands):


	2020		2019
Deferred tax assets:
Price concessions	$	6,907	$	12,302
Compensation and benefits	4,058		3,672
Interest limitation carryforward	39,094		38,623
Operating lease liability	22,644		19,462
Net operating losses	155,922		147,749
Other	8,682		5,506
Deferred tax assets before valuation allowance	237,307		227,314
Valuation allowance	(112,085)		(109,531)
Deferred tax assets net of valuation allowance	125,222		117,783

Deferred tax liabilities:
Accelerated depreciation	(12,593)		(10,376)
Operating lease right-of-use asset	(17,186)		(15,442)
Intangible assets	(67,127)		(71,204)
Goodwill	(28,976)		(20,250)
Other	(2,679)		(2,654)
Deferred tax liabilities	(128,561)		(119,926)
Net deferred tax liabilities	$	(3,339)	$	(2,143)

Summary of Valuation Allowance

The following table presents the valuation allowance for deferred tax assets for the years ended December 31, 2020, 2019 and 2018 (in thousands):


			Additions
Description	Balance at Beginning of Period		Charged (Benefit) to Costs and Expenses		Charged to Other Accounts		Balance at End Period

2018: Valuation allowance for deferred tax assets	$	1,263	$	110	$	—	$	1,373

2019: Valuation allowance for deferred tax assets	$	1,373	$	15,395	$	92,763	$	109,531

2020: Valuation allowance for deferred tax assets	$	109,531	$	1,549	$	1,005	$	112,085