Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Components of Provision for Income Taxes

The components of the provision for income taxes are as follows:

	Years Ended December 31,
($ in thousands)	2018		2017		2016
Current
Federal	$	18,864	$	15,670	$	12,790
State	3,668		1,985		1,855
Total current tax expense (benefit)	22,532		17,655		14,645
Deferred
Federal	5,901		20,895		5,489
State	4,528		1,940		910
Total deferred tax expense (benefit)	10,429		22,835		6,399
Total expense (benefit) for income taxes	$	32,961	$	40,490	$	21,044

Reconciliation of Provision (Benefit) for Income Taxes

The following presents a reconciliation of the provision (benefit) for income taxes computed at the federal statutory rate to the provision (benefit) for income taxes recognized in the Consolidated Statements of Operations for the years indicated:

	Years Ended December 31,
($ in thousands)	2018					2017					2016
Tax at statutory rate	$	22,899		21	%	$	28,150		35	%	$	24,432		35	%
State taxes, net of federal benefit	6,450			6		3,548			4		2,010			3
Effect of U.S. tax reform (the Tax Act)	—			—		13,074			16		—			—
Effect of net income (loss) attributable to noncontrolling interests	(171		)	—		(1,017		)	(1	)	(91		)	—
Change in valuation allowance	4,508			4		(2,613		)	(3	)	(5,125		)	(7	)
Other, net	(725		)	(1	)	(652		)	(1	)	(182		)	(1	)
Income tax expense (benefit)	$	32,961		30	%	$	40,490		50	%	$	21,044		30	%

Summary of Tax Effects of Temporary Differences

The tax effects of temporary differences are as follows:

	December 31,
($ in thousands)	2018			2017
Deferred tax assets:
Intangible assets	$	7,352		$	10,706
Net operating losses	14,750			16,769
Compensation accruals	11,728			7,681
Investments	7,557			7,322
Capital losses	512			870
Other	942			1,675
Gross deferred tax assets	42,841			45,023
Valuation allowance	(8,439		)	(3,088		)
Gross deferred tax assets after valuation allowance	34,402			41,935
Deferred tax liabilities:
Intangible assets	(12,286		)	(9,507		)
Gross deferred tax liabilities	(12,286		)	(9,507		)
Deferred tax assets, net	$	22,116		$	32,428