Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Taxes

Schedule of components of net deferred tax assets and liabilities

Net deferred tax assets and liabilities consist of the following as of December 31, 2019:

	Deferred Tax Assets		Deferred Tax Liabilities
	Noncurrent		Noncurrent
Allowance for credit losses	$	6,458	$	—
Goodwill		6,205		—
Accrued expenses		82		—
Depreciable assets		—		16
Deferred revenue		1,233		—
Deferred rent		131		—
Net operating loss		18,513		—
Valuation allowance		(32,606)		—
	$	16	$	16

Net deferred tax assets and liabilities consist of the following as of December 31, 2018:

	Deferred Tax Assets		Deferred Tax Liabilities
	Noncurrent		Noncurrent
Allowance for credit losses	$	6,698	$	—
Goodwill		16,967		—
Accrued expenses		131		—
Depreciable assets		—		5,643
Deferred revenue		2,234		—
Deferred rent		171		—
Bond registration expenses		11		—
Net Operating Loss		30,834		—
Capital Loss Carryover		1,418		—
Valuation allowance		(52,821)		—
	$	5,643	$	5,643

Schedule of provision for income taxes charged to operations

			For the Period		For the Period
			December 13		January 1
	Year Ended		through		through		Year Ended
	December 31,		December 31,		December 12,		December 31,
	2019		2018		2018		2017
	Successor		Successor		Predecessor		Predecessor
Current tax expense	$	126	$	2	$	39	$	(12)
Deferred tax expense		—		—		—		(9,609)
	$	126	$	2	$	39	$	(9,621)

Schedule of reconciliation between income tax expense for financial statement purposes and amount computed by applying statutory federal income tax rate of 35% to pretax income before extraordinary item

			For the Period		For the Period
			December 13		January 1
	Year Ended		through		through		Year Ended
	December 31,		December 31,		December 12,		December 31,
	2019		2018		2018		2017
	Successor		Successor		Predecessor		Predecessor
Federal tax expense at statutory rate	$	(7,401)	$	266	$	(10,764)	$	(66,680)
Increase (decrease) in income taxes resulting from:
State income taxes, net of federal tax benefit		1,477		(480)		(800)		2,552
Work opportunity tax credit		515		—		(8)		(8)
Interest Expense		6,453		—		—		—
Goodwill impairment		—		—		—		5,846
Transaction costs		—		—		1,458		—
Cancellation of indebtedness income		—		—		11,217		—
Loss on debt extinguishment		—		—		2,275		—
Valuation allowance		(20,215)		(2,018)		(1,414)		23,130
Impact of federal rate change		—		—		—		27,549
Fair value adjustments PIK		(3,669)		(1,393)		—		—
Nondeductible expenses and other items		22,966		3,627		(1,925)		(2,010)
	$	126	$	2	$	39	$	(9,621)