Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Income Tax Provision (Benefit)

The income tax provision (benefit) for the years ended December 31, 2021 and 2020 consisted of the following:

	Year Ended December 31,
	2021		2020
Federal taxes-current	$	—	$	—
Federal taxes-deferred		2.8		(5.0	)
State taxes-current		—		—
State taxes-deferred		0.8		(1.6	)
	$	3.6	$	(6.6	)

Schedule of Reconciliation of Income Tax (Expense) Benefit

For the years ended December 31, 2021 and 2020, the reconciliation between the income tax expense (benefit) computed by applying the statutory U.S. federal and state related income tax rate to the pre-tax loss before income taxes and total income tax expense (benefit) recognized in the financial statements was as follows:

	Year Ended December 31,
	2021			2020
Income tax benefit at statutory U.S. federal rate	$	(3.6	)	$	(4.3	)
Income tax benefit at statutory U.S. states rate, net		(0.6	)		(1.2	)
Permanent differences:
Officer's life insurance		—			(1.7	)
Valuation allowance		7.6			—
Other		0.2			0.6
Total income tax expense (benefit)	$	3.6		$	(6.6	)

Schedule of Components of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities as of December 31, 2021 and 2020 were as follows:

	Year Ended December 31,
	2021			2020
Deferred Tax Assets
Net operating loss carryforwards	$	10.8		$	4.7
Deferred revenue		0.7			0.6
Accounts receivable and inventories		4.3			3.8
Goodwill & intangibles		1.0			6.0
Accrued liabilities		3.4			2.8
Deferred payroll taxes and other		3.0			2.0
Gross deferred tax assets		23.2			19.9
Deferred Tax Liabilities
Property and equipment		(21.3	)		(18.2	)
Prepaid expenses		(1.2	)		(1.2	)
Gross deferred tax liabilities		(22.5	)		(19.4	)

Valuation allowance		(7.6	)		—

Deferred tax (liabilities) assets, net	$	(6.9	)	$	0.5