Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Provision for Income Tax

The provision for income tax related to continuing operations consisted of the following (in thousands):

	Years Ended December 31,
	2021		2020		2019
Current:
Federal	$	22,368	$	5,831	$	9,079
State	1,445		923		3,772
Foreign	9,496		17,756		9,944
Total current	33,309		24,510		22,795
Deferred:
Federal	(4,902)		(151)		99
State	3,575		762		(1,771)
Foreign	7,928		4,922		(54,260)
Total deferred	6,601		5,533		(55,932)
Total provision	$	39,910	$	30,043	$	(33,137)

Reconciliation of Statutory Federal Income Tax Rate with Effective Income Tax Rate

A reconciliation of the statutory federal income tax rate with Consensus’ effective income tax rate is as follows:

	Years Ended December 31,
	2021		2020		2019
Statutory tax rate	21	%	21	%	21	%
State income taxes, net	2.9		0.9		0.5
Foreign rate differential	(0.1)		(2.8)		(5.0)
Foreign income inclusion	4.9		4.3		1.6
Foreign tax credit	(4.0)		(3.5)		(1.7)
Reserve for uncertain tax positions	0.5		0.1		(8.3)
Intra-entity tax benefit	—		—		(31.7)
Tax credits and incentives	(0.1)		(0.1)		(0.9)
Executive compensation	0.2		—		—
Return to provision adjustments	—		1.3		—
Other	(0.5)		(1.4)		1.6
Effective tax rates	24.8	%	19.8	%	(22.9)	%

Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities result from differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities. Temporary differences and carryforwards which give rise to deferred tax assets and liabilities are as follows (in thousands):

	Years Ended December 31,
	2021		2020
Deferred tax assets:
Net operating loss carryforwards	$	48	$	49
Tax credit carryforwards	173		—
Accrued expenses	2,669		2,179
Allowance for bad debt	860		609
Share-based compensation expense	245		—
Basis difference in property and equipment	30,887		36,139
Impairment of investments	—		48
Deferred revenue	—		423
Operating lease	4,196		—
State taxes	135		175
Other	2,674		4,773
	41,887		44,395
Less: valuation allowance	(45)		(45)
Total deferred tax assets	$	41,842	$	44,350
Deferred tax liabilities:
Basis difference in property and equipment	$	(3,304)	$	(1,869)
ROU asset	(1,773)		—
Prepaid insurance	(312)		(203)
Other	(638)		(3,320)
Total deferred tax liabilities	(6,027)		(5,392)
Net deferred tax assets	$	35,815	$	38,958

Reconciliation of Unrecognized Tax Benefits

The aggregate changes in the balance of unrecognized tax benefits, which excludes interest and penalties, for 2021, 2020 and 2019, is as follows (in thousands):

	Years Ended December 31,
	2021		2020		2019
Beginning balance	$	3,050	$	3,015	$	10,429
Decreases related to tax positions taken during a prior year	—		—		(7,441)
Increases related to tax positions taken in the current year	685		35		79
Decreases related to expiration of statute of limitations	—		—		(52)
Ending balance	$	3,735	$	3,050	$	3,015