Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Taxes

Schedule of Components of Income Tax Expense (Benefit)

	Year Ended December 31,
	2019		2018		2017
Current:
Federal	$	57,354	$	60,764	$	76,966
State		(1,344)		8,732		8,589
		56,010		69,496		85,555
Deferred:
Federal		2,804		(10,708)		(6,189)
State		(487)		(799)		843
		2,317		(11,507)		(5,346)
Tax expense recorded as an increase of paid-in capital		—		—		—
	$	58,327	$	57,989	$	80,209

Schedule of Effective Income Tax Rate Reconciliation

	Year Ended December 31,
	2019		2018		2017
Statutory U.S. federal income tax rate	21.0	%	21.0	%	35.0	%
State income taxes, net of federal tax benefit	2.4		4.0		3.2
State tax credits, net of federal effect	(1.0)		(1.0)		(0.7)
Excess tax benefits	(2.3)		(3.7)		(5.8)
Deferred tax revaluation (Federal Rate change)	—		—		(3.7)
Nondeductible expenses	0.1		0.4		—
Other	(1.8)		(0.5)		0.3
Effective income tax rate	18.4	%	20.2	%	28.3	%

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred income tax assets and liabilities, included in Deferred income taxes, non-current on the consolidated balance sheets are as follows:

	As of December 31,		As of December 31,
	2019		2018
Deferred tax assets:
Share-based compensation	$	2,499	$	3,030
Employee compensation		614		780
Intangibles		23,693		—
State taxes		1,764		879
Other		432		386
Deferred tax assets		29,002		5,075
Deferred tax liability:
Property and equipment		(10,865)		(10,778)
Goodwill		(36,295)		(762)
Other		(162)		—
Deferred tax liability		(47,322)		(11,540)
Net deferred tax liability	$	(18,320)	$	(6,465)

The net deferred tax liability on the accompanying consolidated balance sheet is comprised of the following:

	As of December 31,		As of December 31,
	2019		2018
Deferred income taxes, current	$	2,215	$	1,871
Deferred income taxes, non-current		(20,535)		(8,336)
Net deferred tax liability	$	(18,320)	$	(6,465)

Reconciliation of the beginning and ending balance of unrecognized tax benefits

	2019		2018
Unrecognized tax benefits, beginning of year	$	1,960	$	2,008
Tax positions taken during the current year
Increases		5,671		—
Decreases		—		—
Tax positions taken during a prior year
Increases		96		75
Decreases		—		—
Decreases for settlements during the period		—		(123)
Reductions for lapses of applicable statute of limitations		(954)		—
Unrecognized tax benefits, end of year	$	6,773	$	1,960