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Income Taxes - (Tables)
12 Months Ended
Dec. 31, 2016
Income Tax Disclosure [Abstract]  
Summarized Statement of Components of Income Tax Provision
The income tax provision for the years ended December 31, 2016, 2015 and 2014, is comprised of the following components:
 
For the Year Ended December 31, 2016
 
Federal      
 
State      
 
Total      
Current expense
$
14,627

 
$
2,368

 
$
16,995

Tax credits/true-up
(312
)
 

 
(312
)
Change in deferred benefit
(369
)
 
(467
)
 
(836
)
Total tax expense
$
13,946

 
$
1,901

 
$
15,847

 
 
For the Year Ended December 31, 2015
 
Federal      
 
State      
 
Total      
Current expense
$
3,736

 
$
1,640

 
$
5,376

Tax credits/true-up
274

 

 
274

Change in deferred benefit
7,016

 
(1,518
)
 
5,498

Total tax expense
$
11,026

 
$
122

 
$
11,148

 
 
For the Year Ended December 31, 2014
 
Federal      
 
State      
 
Total      
Current expense
$
6,020

 
$
1,374

 
$
7,394

Tax credits/true-up
(2,176
)
 

 
(2,176
)
Change in deferred benefit
803

 
1,549

 
2,352

Total tax expense
$
4,647

 
$
2,923

 
$
7,570

Schedule of Reconciliation of Statutory Income Tax Provisions to the Effective Income Tax Provisions
A reconciliation of the statutory income tax provisions to the effective income tax provisions for the periods indicated is as follows:
 
For the Year Ended December 31,
 
2016
 
2015
 
2014
Expected tax at statutory rate
$
144,708

 
35.0
 %
 
$
77,151

 
35.0
 %
 
$
71,215

 
35.0
 %
Non-taxable REIT income
(131,112
)
 
(31.7
)%
 
(67,084
)
 
(30.4
)%
 
(64,402
)
 
(31.7
)%
State and local tax expense - net of federal benefit
2,399

 
0.6
 %
 
1,249

 
0.6
 %
 
1,109

 
0.6
 %
Change in valuation allowance
(845
)
 
(0.2
)%
 
(624
)
 
(0.3
)%
 
1,663

 
0.8
 %
Tax credits/true-up
(312
)
 
(0.1
)%
 
274

 
0.1
 %
 
(2,176
)
 
(1.1
)%
Miscellaneous
1,009

 
0.2
 %
 
182

 
0.1
 %
 
161

 
0.1
 %
Total provision
$
15,847

 
3.8
 %
 
$
11,148

 
5.1
 %
 
$
7,570

 
3.7
 %
Schedule of Major Sources of Temporary Differences Stated at their Deferred Tax Effects
The major sources of temporary differences stated at their deferred tax effects are as follows:
 
December 31, 2016
 
December 31, 2015
Deferred tax liabilities:
 
 
 
Fixed assets
$
(16,488
)
 
$
(17,360
)
Other
(201
)
 
(221
)
State deferred taxes
(1,242
)
 
(1,523
)
Total deferred tax liabilities
(17,931
)
 
(19,104
)
 
 
 
 
Deferred tax assets:
 
 
 
Captive insurance subsidiary
413

 
429

Accrued liabilities
2,741

 
2,633

Stock compensation
1,713

 
1,346

Solar credit

 
2,167

Other
1,548

 
309

SmartStop TRS
365

 
1,085

State deferred taxes
6,078

 
6,016

Total deferred tax assets
12,858

 
13,985

 
 
 
 
Valuation allowance
(4,765
)
 
(5,609
)
 
 
 
 
Net deferred income tax liabilities
$
(9,838
)
 
$
(10,728
)