INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

INCOME TAXES

Schedule of provision for income taxes based on income before income taxes

The provision for income taxes is based on income before income taxes as follows (in thousands):

	For the year ended
	December 31,		December 31,		December 31,
	2019		2018		2017
Domestic	$	17,188	$	10,894	$	8,076
Foreign		6,653		9,787		8,060
Income before income taxes	$	23,841	$	20,681	$	16,136

Schedule of components of the total provision for income taxes

Components of the total provision for income taxes are as follows (in thousands):

	For the year ended
	December 31,		December 31,		December 31,
	2019		2018		2017
Current provision
Domestic	$	4,313	$	1,663	$	4,750
Foreign		2,618		3,169		2,566
Total current provision		6,931		4,832		7,316
Deferred provision
Domestic		199		675		925
Foreign		(311)		(751)		(141)
Total deferred provision		(112)		(76)		784
Provision for income taxes	$	6,819	$	4,756	$	8,100

Schedule of differences in the provision for income taxes from the amount determined by applying the federal statutory rate

	For the year ended
	December 31,		December 31,		December 31,
	2019		2018		2017
Tax provision, computed at statutory rate	21.0	%	21.0	%	35.0	%
State tax, net of federal impact	4.5	%	3.0	%	3.6	%
Change in valuation allowance	0.3	%	2.8	%	1.9	%
Effect of foreign tax rate differences	1.5	%	3.4	%	(4.2)	%
Permanent items, other	1.4	%	0.8	%	0.2	%
Section 162(m) compensation	1.1	%	0.1	%	0.0	%
R&D Credit	(2.5)	%	(0.8)	%	(2.2)	%
Restricted stock awards	(0.1)	%	(2.3)	%	(2.6)	%
Effect of Tax Cuts and Jobs Act	(0.4)	%	(5.1)	%	19.4	%
Tax examinations	1.8	%	0.0	%	0.0	%
Other	0.0	%	0.1	%	(0.9)	%
Provision for income taxes	28.6	%	23.0	%	50.2	%

Schedule of tax effects of significant temporary differences and credit and operating loss carryforwards that give rise to the net deferred tax assets and tax liabilities

The tax effects of significant temporary differences and credit and operating loss carryforwards that give rise to the net deferred tax assets and tax liabilities are as follows (in thousands):

	December 31,		December 31,
	2019		2018
Noncurrent deferred tax assets:
Employee benefit plans	$	2,440	$	1,983
Net operating loss and tax credit carryforwards		1,675		1,507
Allowances and other		795		983
Other		428		326
Total noncurrent deferred tax assets		5,338		4,799
Valuation allowance		(1,077)		(1,003)
Net noncurrent deferred tax assets:	$	4,261	$	3,796
Net noncurrent deferred tax liabilities:
Property and equipment	$	3,901	$	3,708
Goodwill and intangibles		2,885		3,188
Other		384		419
Total deferred tax liabilities	$	7,170	$	7,315
Net deferred tax asset/(deferred tax liability)	$	(2,909)	$	(3,519)