Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Provision for Income Taxes from Continuing Operations

The provision for income taxes from continuing operations is comprised of (in thousands):

	Years ended December 31,
	2016			2015			2014
Current:
Federal	$	18,307		$	13,939		$	7,616
State		3,472			2,989			1,369
		21,779			16,928			8,985
Deferred:
Federal		(338	)		(1,255	)		(676	)
State		(267	)		(260	)		298
		(605	)		(1,515	)		(378	)
Total tax expense	$	21,174		$	15,413		$	8,607

Reconciliation Between Effective Tax Rate on Net Income (Loss) from Continuing Operations and Federal Statutory Tax Rate

The reconciliation between our effective tax rate on net income from continuing operations and the federal statutory rate is as follows (dollars in thousands):

	Years ended December 31,
	2016					2015					2014
Income tax at federal statutory rate	$	20,864		35.0	%	$	14,676		35.0	%	$	7,905		35.0	%
Stock compensation		(227	)	(0.4	%)		—		0.0	%		—		0.0	%
Qualified Production Activity Deduction		(1,776	)	(3.0	%)		(1,347	)	(3.2	%)		(694	)	(3.1	%)
Other permanent items		(92	)	(0.1	%)		(69	)	(0.2	%)		(272	)	(1.2	%)
Change in valuation allowance		442		0.7	%		467		1.1	%		585		2.6	%
Change in uncertain tax positions		66		0.1	%		(559	)	(1.3	%)		—		0.0	%
State income taxes, net of federal benefit		1,897		3.2	%		2,245		5.4	%		1,083		4.8	%
Total tax expense	$	21,174		35.5	%	$	15,413		36.8	%	$	8,607		38.1	%

Net Deferred Tax Asset or Liability

Components of the net deferred tax asset or liability are as follows (in thousands):

	As of December 31,
	2016			2015
Deferred Tax Assets
Long-term
Accrued reserves and allowances	$	2,314		$	648
Inventories		284			88
Intangibles		806			180
Net operating loss carryforwards		2,921			2,999
Other current and long-term		2			2
Long-term deferred tax assets		6,327			3,917
Less: Valuation allowance		(2,415	)		(1,974	)
Net deferred tax assets		3,912			1,943
Deferred Tax Liabilities
Long-term
Accrued reserves and allowances		(565	)		(136	)
Property and equipment		(1,505	)		(1,475	)
Intangibles		(4,899	)		(5,626	)
Investment in partnership		(9,530	)		(8,757	)
Other		(62	)		(59	)
Long-term deferred tax liabilities		(16,561	)		(16,053	)
Net deferred tax liabilities	$	(12,649	)	$	(14,110	)

Rollforward of Gross Unrecognized Tax Benefits

A rollforward of the gross unrecognized tax benefits is as follows (in thousands):

Unrecognized tax benefit, January 1, 2015	$	2,817
Increase as a result of tax positions taken during the period		2,647
Decrease as a result of tax positions taken during the period		(1,415	)
Decrease as a result of expiring statutes		(463	)
Unrecognized tax benefit, December 31, 2015		3,586
Increase as a result of tax positions taken during the period		2,354
Decrease as a result of tax positions taken during the period		(1,356	)
Decrease as a result of expiring statutes		(487	)
Unrecognized tax benefit, December 31, 2016	$	4,097