INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Tax (Expense) Benefit from Continuing Operations

Income tax (expense) benefit from continuing operations for the years ended December 31, 2020 and 2019 consisted of the following (in thousands):

	Years Ended December 31,
	2020			2019
Current provision:
State	$	(60	)	$	(73	)
Federal		—			—
Foreign		25			(187	)
Total		(35	)		(260	)
Deferred provision:
State		(62	)		(6,704	)
Federal		4,856			(21,210	)
Foreign		96			(30	)
Total		4,890			(27,944	)
Total income tax benefit (expense)	$	4,855		$	(28,204	)

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,
	2020			2019
U.S. statutory income tax rate		21.0	%		21.0	%
State and local taxes, net of federal income tax benefit		0.1	%		(4.5	)%
Tax exempt (income) loss		(2.1	)%		(1.2	)%
Valuation allowance		7.0	%		(8.0	)%
Divestiture impact on valuation allowance		(14.4	)%		—	%
Company's earnings not subject to tax		—	%		(0.2	)%
Change in tax status		—	%		(27.2	)%
Permanent differences		(0.1	)%		(2.7	)%
Effective tax rate		11.5	%		(22.8	)%

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,
	2020			2019
Deferred tax assets:
Prepaid expenses	$	15,780		$	13,010
State net operating loss		26,015			26,121
Federal net operating loss		86,651			88,818
Foreign net operating loss		9,171			8,656
Other		51			55
Valuation allowance		(101,629	)		(103,336	)
Total deferred tax assets		36,039			33,324
Deferred tax liabilities:
Property, plant and equipment		30,880			28,399
Deferred revenue related to future revenues and accounts receivable		29,480			33,582
Deferred revenue related to cemetery property		5,322			5,875
Total deferred tax liabilities		65,682			67,856
Net deferred tax liabilities	$	29,643		$	34,532

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

	December 31,
	2020		2019
Deferred tax assets	$	9	$	81
Noncurrent assets		9		81
Deferred tax assets		36,030		33,243
Deferred tax liabilities		65,682		67,856
Noncurrent liabilities		29,652		34,613
Net deferred tax liabilities	$	29,643	$	34,532