INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Tax (Expense) Benefit from Continuing Operations

Income tax benefit from continuing operations for the years ended December 31, 2021 and 2020 consisted of the following (in thousands):

	Years Ended December 31,
	2021			2020
Current provision:
State	$	(65	)	$	(60	)
Federal		—			—
Foreign		(343	)		25
Total		(408	)		(35	)
Deferred provision:
State		3,147			(62	)
Federal		15,482			4,856
Foreign		149			96
Total		18,778			4,890
Total income tax benefit	$	18,370		$	4,855

Reconciliation of Federal Statutory Tax Rate to Company’s Effective Tax Rate

A reconciliation of the federal statutory tax rate to the Company’s effective tax rate is as follows:

	Years Ended December 31,
	2021			2020
U.S. statutory income tax rate		21.0	%		21.0	%
State and local taxes, net of federal income tax benefit		3.0	%		0.1	%
Tax exempt (income) loss		0.1	%		(2.1	)%
Valuation allowance		0.8	%		7.0	%
Divestiture impact on valuation allowance		—	%		(14.4	)%
Permanent differences		(0.5	)%		(0.1	)%
Effective tax rate		24.4	%		11.5	%

Significant Components of Company's Deferred Tax Assets and Liabilities

The components of the Company’s deferred tax assets and liabilities were as follows (in thousands):

	December 31,
	2021			2020
Deferred tax assets:
Prepaid expenses	$	10,619		$	15,780
State net operating loss		33,809			26,015
Federal net operating loss		100,093			86,651
Foreign net operating loss		4,604			9,171
Other		17			51
Valuation allowance		(101,447	)		(101,629	)
Total deferred tax assets		47,695			36,039
Deferred tax liabilities:
Property, plant and equipment		31,423			30,880
Deferred revenue related to future revenues and accounts receivable		21,725			29,480
Deferred revenue related to cemetery property		5,404			5,322
Total deferred tax liabilities		58,552			65,682
Net deferred tax liabilities	$	10,857		$	29,643

Net deferred tax assets and liabilities were classified on the consolidated balance sheets as follows (in thousands):

	December 31,
	2021		2020
Deferred tax assets	$	21	$	9
Noncurrent assets		21		9
Deferred tax assets		47,674		36,030
Deferred tax liabilities		58,552		65,682
Noncurrent liabilities		10,878		29,652
Net deferred tax liabilities	$	10,857	$	29,643