Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Summarized Statement of Components of Income Tax Provision

The income tax provision for the years ended December 31, 2020, 2019 and 2018, is comprised of the following components:

	For the Year Ended December 31, 2020
	Federal		State		Total
Current expense	$	15,553	$	3,347	$	18,900
Tax credits/true-up	(5,610)		(135)		(5,745)
Change in deferred expense/(benefit)	594		61		655
Total tax expense	$	10,537	$	3,273	$	13,810

	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	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 benefit	3,730		(32)		3,698
Total tax expense	$	7,025	$	2,219	$	9,244

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,
	2020				2019				2018
Expected tax at statutory rate	$	111,760	21.0	%	$	97,110	21.0	%	$	95,828	21.0	%
Non-taxable REIT income	(94,270)		(17.7)	%	(82,717)		(17.9)	%	(83,022)		(18.2)	%
State and local tax expense - net of federal benefit	3,075		0.6	%	2,837		0.6	%	2,385		0.5	%
Change in valuation allowance	(363)		(0.1)	%	(207)		—	%	(1,052)		(0.2)	%
Tax credits/true-up	(5,745)		(1.1)	%	(3,663)		(0.8)	%	(6,016)		(1.3)	%
Miscellaneous	(647)		(0.1)	%	(2,052)		(0.4)	%	1,121		0.2	%
Total provision	$	13,810	2.6	%	$	11,308	2.5	%	$	9,244	2.0	%

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, 2020		December 31, 2019
Deferred tax liabilities:
Fixed assets	$	(27,374)	$	(23,805)
Operating lease right-of-use assets	(2,223)		(2,475)
Other	(72)		(84)
State deferred taxes	(3,210)		(3,405)
Total deferred tax liabilities	(32,879)		(29,769)
Deferred tax assets:
Captive insurance subsidiary	378		312
Accrued liabilities	2,325		2,006
Stock compensation	2,635		2,118
Operating lease liabilities	2,232		2,478
SmartStop TRS	219		219
Other	1,554		50
State deferred taxes	6,725		7,250
Total deferred tax assets	16,068		14,433
Valuation allowance	(3,302)		(3,665)
Net deferred income tax liabilities	$	(20,113)	$	(19,001)