Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Summarized Statement of Components of Income Tax Provision

The income tax provision for the years ended December 31, 2019, 2018 and 2017, is comprised of the following components:

	For the Year Ended December 31, 2019
	Federal			State			Total
Current expense	$	10,164		$	2,936		$	13,100
Tax credits/true-up	(3,633		)	(30		)	(3,663		)
Change in deferred expense/(benefit)	1,787			84			1,871
Total tax expense	$	8,318		$	2,990		$	11,308

	For the Year Ended December 31, 2018
	Federal			State			Total
Current expense	$	9,136		$	2,426		$	11,562
Tax credits/true-up	(5,841		)	(175		)	(6,016		)
Change in deferred expense	3,730			(32		)	3,698
Total tax expense	$	7,025		$	2,219		$	9,244

	For the Year Ended December 31, 2017
	Federal			State			Total
Current expense	$	5,677		$	1,662		$	7,339
Tax credits/true-up	(5,573		)	(383		)	(5,956		)
Change in deferred benefit	1,700			542			2,242
Total tax expense	$	1,804		$	1,821		$	3,625

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,
	2019					2018					2017
Expected tax at statutory rate	$	97,110		21.0	%	$	95,828		21.0	%	$	186,274		35.0	%
Non-taxable REIT income	(82,717		)	(17.9	)%	(83,022		)	(18.2	)%	(170,811		)	(32.1	)%
State and local tax expense - net of federal benefit	2,837			0.6	%	2,385			0.5	%	2,306			0.4	%
Change in valuation allowance	(207		)	—	%	(1,052		)	(0.2	)%	159			—	%
Tax credits/true-up	(3,663		)	(0.8	)%	(6,016		)	(1.3	)%	(5,956		)	(1.1	)%
Remeasurement of deferred balances	—			—	%	—			—	%	(8,460		)	(1.6	)%
Miscellaneous	(2,052		)	(0.4	)%	1,121			0.2	%	113			—	%
Total provision	$	11,308		2.5	%	$	9,244		2.0	%	$	3,625		0.6	%

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, 2019			December 31, 2018
Deferred tax liabilities:
Fixed assets	$	(23,805	)	$	(20,907	)
Operating lease right-of-use assets	(2,475		)	—
Other	(84		)	(96		)
State deferred taxes	(3,405		)	(3,076		)
Total deferred tax liabilities	(29,769		)	(24,079		)
Deferred tax assets:
Captive insurance subsidiary	312			324
Accrued liabilities	2,006			1,772
Stock compensation	2,118			1,604
Operating lease liabilities	2,478			—
SmartStop TRS	219			219
Other	50			53
State deferred taxes	7,250			7,196
Total deferred tax assets	14,433			11,168
Valuation allowance	(3,665		)	(3,872		)
Net deferred income tax liabilities	$	(19,001	)	$	(16,783	)