Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Components Of Deferred Income Taxes

The components of deferred income taxes at December 31, 2020 and 2019 are as follows:

	2020		2019
Deferred income tax assets:
Accrued expenses	$	588	$	331
Bad debt reserves	143		89
Insurance reserves	187		139
Lease liabilities	204		180
Retirement liabilities	205		216
Deferred compensation	31		28
Federal and state operating loss carryforwards	274		124
Other	113		71
Subtotal	1,745		1,178
Less: valuation allowance	(84)		(45)
Total deferred income tax assets	1,661		1,133
Deferred income tax liabilities:
Federal and state intangible assets	2,073		1,999
Capitalized software	670		554
Depreciation and amortization	37		62
Investment basis	407		230
Retirement assets	260		249
Lease right-of-use asset	131		164
Prepaid expenses	102		102
Total deferred income tax liabilities	3,680		3,360
Net deferred income tax liabilities	$	2,019	$	2,227

Components Of Provision For Income Taxes

Significant components of the provision for income taxes for the years ended December 31, 2020, 2019 and 2018 consist of the following:

	2020		2019		2018
Current tax expense:
Federal	$	1,731	$	1,019	$	1,128
State and local	461		84		78
Total current tax expense	2,192		1,103		1,206
Deferred tax (benefit) expense	(526)		75		112
Total income tax expense	$	1,666	$	1,178	$	1,318

Reconciliation Of Income Tax Expense Computed At The Statutory Federal Income Tax Rate

A reconciliation of income tax expense recorded in the consolidated statements of income and amounts computed at the statutory federal income tax rate for the years ended December 31, 2020, 2019 and 2018 is as follows:

	2020				2019				2018
	Amount		Percent		Amount		Percent		Amount		Percent
Amount at statutory rate	$	1,310	21.0	%	$	1,257	21.0	%	$	1,064	21.0	%
State and local income taxes net of federal tax expense/benefit	235		3.8		138		2.3		63		1.2
Tax exempt interest and dividends received deduction	(22)		(0.4)		(24)		(0.4)		(27)		(0.5)
HIP fee	330		5.3		—		—		324		6.4
Basis adjustments from recent acquisitions	(110)		(1.8)		—		—		(28)		(0.6)
Tax Cuts and Jobs Act	—		—		—		—		(28)		(0.6)
Other, net	(77)		(1.2)		(193)		(3.2)		(50)		(0.9)
Total income tax expense	$	1,666	26.7	%	$	1,178	19.7	%	$	1,318	26.0	%

Change In The Carrying Amount Of Gross Unrecognized Tax Benefits From Uncertain Tax Positions

The change in the carrying amount of gross unrecognized tax benefits from uncertain tax positions for the years ended December 31, 2020 and 2019 is as follows:

	2020		2019
Balance at January 1	$	146	$	241
Additions based on:
Tax positions related to current year	76		1
Tax positions related to prior years	40		—
Reductions based on:
Tax positions related to prior years	(13)		(63)
Settlements with taxing authorities	—		(33)
Balance at December 31	$	249	$	146