Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Taxes [Abstract]

Provision For Income Taxes

	Year Ended December 31,
	2020		2019		2018
Federal:
Current	$	6,856	$	8,170	$	21,594
Deferred		(3,528)		2,081		927
	$	3,328	$	10,251	$	22,521
State and Other:
Current	$	1,456	$	2,522	$	4,857
Deferred		(1,572)		(633)		1,163
		(116)		1,889		6,020
Total	$	3,212	$	12,140	$	28,541

Reasons For The Difference Between Provision For Income Taxes

	For the Year Ended December 31,
	2020		2019		2018
Income tax expense at statutory rate	$	2,402	$	9,868	$	24,466
Effect of state taxes, net of federal tax benefit		1,150		1,992		3,837
Effect of federal rate change, net of federal tax benefit		—		—		(1,005)
Effect of state rate changes on net deferred
liabilities		(1,940)		(755)		833
Change in valuation allowance		698		255		(283)
Non-deductible items		1,322		1,258		1,182
Tax credits		(420)		(478)		(489)
Total	$	3,212	$	12,140	$	28,541

Deferred Income Taxes

	As of December 31,
	2020		2019
Deferred federal and state tax liabilities (assets):
Installment sales treatment of VOI notes receivable	$	99,409	$	105,396
Deferred federal and state loss carryforwards/AMT
credits (net of valuation allowance of $3.1 million and $2.4 million
as of December 31, 2020 and 2019, respectively)		(7,188)		(7,915)
Book reserves for loan losses and inventory costs under timeshare accounting rules		(20,298)		(19,615)
Tax over book depreciation		5,465		4,786
Real estate valuation		(5,472)		(5,492)
Intangible assets		14,197		14,185
Junior subordinated debentures		8,886		9,124
Other		(7,595)		(7,965)
Deferred income taxes	$	87,404	$	92,504
Total deferred federal and state tax liabilities	$	127,957	$	133,491
Total deferred federal and state tax assets		(40,553)		(40,987)
Deferred income taxes	$	87,404	$	92,504