Income Taxes (Tables)

9 Months Ended

Sep. 30, 2017

Income Taxes

Schedule of reconciliation of income tax provision (benefit)

The income tax provision (benefit) differs from the amounts determined by applying the statutory federal income tax rate of 34% to the income (loss) before income tax provision (benefit) for the following reasons (dollars in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Income tax (benefit) at federal rate	$	(1,781)	$	(154)	$	(4,915)	$	752
Increase (decrease) resulting from:
State income taxes, net of federal income tax		(224)		(3)		(580)		143
Expense not deductible for tax		—		36		—		196
Tax credit included in taxable income		(21)		—		171		—
Other permanent differences		35		21		107		126
Capital goods excise tax credit		62		(74)		(500)		(325)
Change in valuation allowance		89,410		—		89,410		—
Total income tax provision (benefit)	$	87,481	$	(174)	$	83,693	$	892