Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Provision for Income Taxes

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

	Years ended December 31,
	2021		2020		2019
Current:
Federal	$	27,011	$	33,495	$	14,850
State	10,139		8,918		4,127
	37,150		42,413		18,977
Deferred:
Federal	(437)		(7,177)		4,585
State	(1)		(1,298)		884
	(438)		(8,475)		5,469
Total tax expense	$	36,712	$	33,938	$	24,446

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

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

	Years ended December 31,
	2021				2020				2019
Income tax at federal statutory rate	$	32,650	21.0	%	$	27,547	21.0	%	$	19,447	21.0	%
Stock compensation	(1,567)		(1.0)	%	331		0.3	%	(255)		(0.3)	%
Other permanent items	1,274		0.8	%	424		0.3	%	737		0.8	%
Change in valuation allowance	(922)		(0.6)	%	(207)		(0.2)	%	276		0.3	%
Change in uncertain tax positions	(2,867)		(1.8)	%	65		0.1	%	67		0.1	%
State income taxes, net of federal benefit	8,144		5.2	%	5,778		4.4	%	4,174		4.5	%
Total tax expense	$	36,712	23.6	%	$	33,938	25.9	%	$	24,446	26.4	%

Net Deferred Tax Asset or Liability

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

	As of December 31,
	2021		2020
Deferred Tax Assets
Long-term
Accrued liabilities and allowances	$	10,200	$	9,106
Allowance for doubtful accounts	979		987
Inventories	900		402
Property and equipment	333		280
Intangibles	7,042		6,582
Net operating loss carryforwards	1,049		1,206
Other	14		16
Long-term deferred tax assets	20,517		18,579
Less: Valuation allowance	(216)		(1,263)
Net deferred tax assets	20,301		17,316
Deferred Tax Liabilities
Long-term
Accrued liabilities and allowances	(669)		(151)
Property and equipment	(7,629)		(4,587)
Intangibles	(6,783)		(4,810)
Investment in partnership	(8,271)		(6,660)
Other	(793)		(650)
Long-term deferred tax liabilities	(24,145)		(16,858)
Net deferred tax (liabilities) assets	$	(3,844)	$	458
The above amounts are included in our Consolidated Balance Sheets as follows:
Other non-current assets	975		493
Long-term deferred income tax liabilities	(4,819)		(35)
Net deferred tax (liabilities) assets	$	(3,844)	$	458

Rollforward of Gross Unrecognized Tax Benefits

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

Unrecognized tax benefit, January 1, 2019	$	5,349
Increase as a result of tax positions taken during the period	2,866
Decrease as a result of tax positions taken during the period	(2,482)
Decrease as a result of expiring statutes	(16)
Unrecognized tax benefit, December 31, 2019	$	5,717
Increase as a result of tax positions taken during the period	3,822
Decrease as a result of tax positions taken during the period	(2,873)
Increase as a result of expiring statutes	10
Unrecognized tax benefit, December 31, 2020	$	6,676
Increase as a result of tax positions taken during the period	4,482
Decrease as a result of tax positions taken during the period	(3,999)
Decrease as a result of expiring statutes	(2,857)
Unrecognized tax benefit, December 31, 2021	$	4,302