Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Components of Income Before Income Taxes

The components of income before income taxes consisted of the following (in thousands):



	Year Ended December 31,
	2018		2017		2016
Domestic	$	88,014	$	52,986	$	18,016
Foreign jurisdictions	$	5,937	$	3,959	$	3,941
Income before income taxes	$	93,951	$	56,945	$	21,957

Schedule of Income Tax Provision

Income tax provision consisted of the following (in thousands):

	Current		Deferred			Total
Year ended December 31, 2018
U.S. Federal	$	13,372	$	4,172		$	17,544
U.S. state and local		1,912		(116	)		1,796
Foreign jurisdictions		1,408		18			1,426
	$	16,692	$	4,074		$	20,766

Year ended December 31, 2017
U.S. Federal	$	10,953	$	3,466		$	14,419
U.S. state and local		2,032		51			2,083
Foreign jurisdictions		1,576		(255	)		1,321
	$	14,561	$	3,262		$	17,823

Year ended December 31, 2016
U.S. Federal	$	15,105	$	(8,784	)	$	6,321
U.S. state and local		1,636		(524	)		1,112
Foreign jurisdictions		710		389			1,099
	$	17,451	$	(8,919	)	$	8,532

Summary Of Difference Between Statutory Rate for Federal Income Tax and Effective Income Tax Rate

The difference between the statutory rate for federal income tax and the effective income tax rate was as follows (in thousands):



	Year Ended December 31,
	2018					2017					2016
Income tax expense calculated at the federal statutory rate	$	19,730		21.0	%	$	19,931		35.0	%	$	7,685		35.0	%
Effect of:
State and local taxes, net of federal benefit		1,978		2.1			1,606		2.8			912		4.2
Tax on foreign earnings, net of tax credits and deductions		172		0.2			(69	)	(0.1	)		(26	)	(0.1	)
Tax reform adjustment		(195	)	(0.2	)		(3,418	)	(6.0	)		-		-
Write off of Deferred Tax Assets		509		0.6			-		-			-		-
Deferred credit		(802	)	(0.9	)		(1,053	)	(1.9	)		-		-
Change in valuation allowance		-		-			-		-			-		-
Permanent items:
Stock-based awards		(651	)	(0.7	)		(179	)	(0.3	)		(534	)	(2.4	)
Tax reform adjustment		126		0.1			574		1.0			-		-
Other		687		0.7			483		0.9			174		0.8
State/Local tax credits		(1,253	)	(1.3	)		(1,187	)	(2.1	)		(1,049	)	(4.8	)
Foreign tax credits		(727	)	(0.8	)		-		-			-		-
Change in liability for uncertain tax positions		1,102		1.2			1,141		2.0			1,212		5.5
Other		90		0.1			(6	)	(0.0	)		158		0.7
	$	20,766		22.1	%	$	17,823		31.3	%	$	8,532		38.9	%

Schedule of Components of Company's Net Deferred Tax Asset (Liability)

Components of the Company’s net deferred tax asset (liability) included in the consolidated balance sheets consisted of the following at December 31 (in thousands):


	2018			2017
Deferred tax assets:
Accrued liabilities	$	18,670		$	17,563
Depreciation and amortization		872			980
Foreign operating loss carryforward		248			246
U.S. federal tax credits and carryforward		-			8,152
U.S. state and local tax credits and carryforward		223			1,799
Other		41			667
Valuation allowance		(169	)		(2,394	)
Total deferred tax assets		19,885			27,013

Deferred tax liabilities:
Depreciation and amortization		(18,803	)		(20,117	)
Prepaid expenses		(550	)		(572	)
Other		(258	)		(541	)
Total deferred tax liabilities		(19,611	)		(21,230	)
Net deferred tax asset	$	274		$	5,783

Schedule of Annual Activity Related to Valuation Allowance

Annual activity related to the Company’s valuation allowance is as follows (in thousands):



	Year Ended December 31,
	2018			2017			2016
Beginning Balance	$	2,394		$	987		$	1,021
Additions charged to expense		-			-			-
Additions due to asset acquisition		-			2,033			-
Reductions from utilization, reassessments and expirations		(2,225	)		3			(34	)
Remeasurement due to effect of tax reform		-			(629	)		-
Ending Balance	$	169		$	2,394		$	987

Schedule of Gross Unrecognized Tax Benefits

A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows (in thousands):



	Year Ended December 31,
	2018			2017		2016
Beginning Balance	$	6,890		$	5,698	$	2,604
Increases in tax positions for prior years		-			5		-
Decreases in tax positions for prior years		(579	)		-		(196	)
Increases in tax positions for current year		2,214			1,187		3,365
Lapse in statute of limitations		-			-		(75	)
Ending Balance	$	8,525		$	6,890	$	5,698