INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Tax (Expense) Benefit

Income tax (expense) benefit for the years ended December 31, 2019 and 2018 consisted of the following (in thousands):

	Years Ended December 31,
	2019			2018
Current provision:
State	$	(73	)	$	(693	)
Federal		—			—
Foreign		(187	)		(101	)
Total		(260	)		(794	)
Deferred provision:
State		(6,704	)		(23	)
Federal		(21,210	)		2,725
Foreign		(30	)		(111	)
Total		(27,944	)		2,591
Total income tax (expense) benefit	$	(28,204	)	$	1,797

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,
	2019			2018
Computed tax provision (benefit) at the applicable statutory tax rate		21.0	%		21.0	%
State and local taxes net of federal income tax benefit		(4.5	)%		(1.1	)%
Tax exempt (income) loss		(1.2	)%		(1.5	)%
Change in current year valuation allowance		(8.0	)%		(18.3	)%
Company's earnings not subject to tax		(0.2	)%		2.0	%
Changes in tax due to Tax Act and ASC 606 retroactive impact		—	%		0.5	%
Change in tax status		(27.2	)%		—	%
Permanent differences		(2.7	)%		(0.1	)%
Other		—	%		—	%
Effective tax rate		(22.8	)%		2.5	%

Significant Components of Company's Deferred Tax Assets and Liabilities

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

	December 31,
	2019			2018
Deferred tax assets:
Prepaid expenses	$	13,010		$	5,102
State net operating loss		26,121			24,162
Federal net operating loss		88,818			84,017
Foreign net operating loss		8,656			2,106
Other		55			55
Valuation allowance		(103,336	)		(89,066	)
Total deferred tax assets		33,324			26,376
Deferred tax liabilities:
Property, plant and equipment		28,399			2,119
Deferred revenue related to future revenues and accounts receivable		33,582			25,021
Deferred revenue related to cemetery property		5,875			5,825
Total deferred tax liabilities		67,856			32,965
Net deferred tax liabilities	$	34,532		$	6,589

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

	December 31,
	2019		2018
Deferred tax assets	$	81	$	86
Noncurrent assets		81		86
Deferred tax assets		33,243		26,290
Deferred tax liabilities		67,856		32,965
Noncurrent liabilities		34,613		6,675
Net deferred tax liabilities	$	34,532	$	6,589