Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

The income tax benefit for the years ended December 31, 2020 and 2019 consisted of the following:

	December 31,
	2020		2019
Federal taxes-current	$	—	$	—
Federal taxes-deferred		5.0		—
State taxes-current		—		—
State taxes-deferred		1.6		—
	$	6.6	$	—

Schedule of Reconciliation of Income Tax Benefit

For the years ended December 31, 2020 and 2019, the reconciliation between the income tax benefit computed by applying the statutory U.S. federal income tax rate to the pre-tax loss before income taxes and total income tax expense recognized in the financial statements was as follows:

	December 31,
	2020			2019
Income tax (expense) benefit at statutory U.S. federal rate	$	4.3		$	—
Income tax (expense) benefit at statutory U.S. states, net		1.2			—
Permanent differences:					—
Officer's life insurance		1.7			—
Other		(0.6	)		—
Total income tax benefit	$	6.6		$	—

Schedule of Components of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities as of December 31, 2020 and 2019 were as follows:

	December 31,
	2020			2019
Deferred Tax Assets
Net operating loss carryforwards	$	4.7		$	—
Deferred revenue		0.6			—
Accounts receivable and inventories		3.8			—
Goodwill & intangibles		6.0			—
Accrued liabilities		2.8			—
Deferred payroll taxes and other		2.0			—
Gross deferred tax assets		19.9			—
Deferred Tax Liabilities					—
Property and equipment		(18.2	)		—
Prepaid expenses		(1.2	)		—
Gross deferred tax liabilities		(19.4	)		—
					—
Deferred tax assets, net	$	0.5		$	—