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INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2021
INCOME TAXES  
Schedule of components of income tax expense (benefit)

For the Year Ended

(In thousands)

    

2021

    

2020

    

2019

 

Current:

Federal

$

305

$

314

$

143

State

 

470

 

2,236

 

1,392

Total current expense

 

775

 

2,550

 

1,535

Deferred:

Federal

 

4,867

 

8,802

 

(4,339)

State

 

637

 

(416)

 

(910)

Total deferred expense (benefit)

 

5,504

 

8,386

 

(5,249)

Total income tax expense (benefit)

$

6,279

$

10,936

$

(3,714)

Schedule of reconciliation of the federal statutory tax rate to the effective tax rate

For the Year Ended

(In percentages)

    

2021

    

2020

    

2019

 

Statutory federal income tax rate

21.0

%  

21.0

%  

21.0

%

State income taxes, net of federal benefit

 

6.4

 

1.6

 

10.6

Searchlight investment

 

(33.0)

 

(3.3)

 

Other permanent differences

 

(0.5)

 

2.2

 

(4.5)

Change in deferred tax rate

 

 

(2.9)

Valuation allowance

(1.7)

2.8

(4.7)

Provision to return

 

2.6

(1.1)

 

(0.5)

Nondeductible goodwill

(1.5)

State audit settlement

(3.2)

Other

 

0.4

 

(0.5)

 

(0.1)

 

(6.3)

%  

22.7

%  

15.7

%

Schedule of components of the net deferred tax liability

Year Ended December 31,

 

(In thousands)

    

2021

    

2020

 

Non-current deferred tax assets:

Reserve for uncollectible accounts

$

2,632

$

2,420

Accrued vacation pay deducted when paid

4,388

4,354

Accrued expenses and deferred revenue

15,019

16,419

Net operating loss carryforwards

 

100,402

 

76,198

Excess interest carryforward

2,402

Pension and postretirement obligations

 

57,507

 

79,688

Share-based compensation

 

1,706

 

974

Derivative instruments

 

2,633

 

6,582

Financing costs

 

 

1,177

Tax credit carryforwards

 

4,854

 

4,990

 

191,543

 

192,802

Valuation allowance

 

(8,580)

 

(7,139)

Net non-current deferred tax assets

 

182,963

 

185,663

Non-current deferred tax liabilities:

Goodwill and other intangibles

 

(44,044)

 

(53,797)

Basis in investment

 

(4)

 

(12)

Partnership investments

 

(16,902)

 

(15,988)

Property, plant and equipment

 

(310,579)

 

(286,888)

Financing costs

 

(5,892)

 

Other

 

 

1

 

(377,421)

 

(356,684)

Net non-current deferred taxes

$

(194,458)

$

(171,021)