Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Income Before Provision (Benefit) for Income Taxes

Income before provision (benefit) for income taxes consisted of the following:

(in thousands)	Year Ended December 31,
	2019		2018			2017
U.S.	$	129,045	$	104,881		$	83,525
Foreign		80		(186	)		(73	)
	$	129,125	$	104,695		$	83,452

Provision (Benefit) for Income Taxes

The provision (benefit) for income taxes consisted of the following:

(in thousands)	Year Ended December 31,
	2019			2018		2017
Current:
U.S. Federal	$	11,744		$	7,270	$	21,171
State		7,353			4,253		2,976
Foreign		1,616			1,731		2,016
		20,713			13,254		26,163
Deferred:
U.S. Federal		10,719			10,355		(103,518	)
State		895			1,637		6,948
Foreign		(8	)		43		(61	)
		11,606			12,035		(96,631	)
Total	$	32,319		$	25,289	$	(70,468	)

Reconciliation of U.S. Federal Statutory Tax Rate to Company's Effective Tax Rate

The reconciliation of the U.S. federal statutory tax rate to the Company’s effective tax rate is as follows:

	Year Ended December 31,
	2019			2018			2017
U.S. federal statutory rate		21.0	%		21.0	%		35.0	%
State taxes, net of federal benefit		5.0			5.0			4.1
State deferred tax rate change, net of federal benefit		0.1			0.7			0.5
Valuation allowance		0.0			(0.5	)		0.1
Share-based compensation		(1.6	)		(1.9	)		(1	)
Enactment of the Tax Cuts and Jobs Act		(0.1	)		(0.1	)		(123	)
Other		0.6			0.0			(0.2	)
		25.0	%		24.2	%		(84.4	)%

Deferred Income Taxes Related to Temporary Differences between Tax Bases of Assets and Liabilities

The following table shows the deferred income taxes related to the temporary differences between the tax bases of assets and liabilities and the respective amounts included in “Deferred income taxes, net” on the Company’s Consolidated Balance Sheets:

(in thousands)	December 31,
	2019		2018
Deferred tax liabilities:
Accelerated depreciation	$	221,627	$	208,539
Prepaid costs currently deductible		5,668		4,845
Other		5,011		4,703
Total deferred tax liabilities		232,306		218,087
Deferred tax assets:
Accrued costs not yet deductible		8,860		7,796
Allowance for doubtful accounts		486		486
Deferred revenues		2,512		1,774
Share-based compensation		2,178		1,367
Total deferred tax assets, net of valuation allowance of $0.2 million in 2019 and 2018		14,036		11,423
Deferred income taxes, net	$	218,270	$	206,664