TAXES (Tables)

12 Months Ended

Dec. 31, 2019

Taxes [Abstract]

Schedule of deferred tax assets and liabilities

The following is a summary of deferred tax assets and liabilities:

	December 31,
	2019		2018
	(in thousands)
Deferred tax assets:
Federal net operating loss carryforward	$	1,199	$	1,213
Total deferred assets		1,199		1,213
Deferred tax liabilities:
Foreign deferred tax liabilities (1)		11,350		13,599
Total net deferred liabilities before valuation allowances		(10,151)		(12,386)
Valuation allowance on deferred tax asset		(1,199)		(1,213)
Net deferred tax liabilities	$	(11,350)	$	(13,599)

(1) The deferred tax liabilities primarily resulted from inherited basis differences resulting from our acquisition of entities in the U.K. Subsequent adjustments to these accounts result from GAAP to tax differences related to depreciation, indexation and revenue recognition.