TAXES (Tables)

12 Months Ended

Dec. 31, 2021

Taxes [Abstract]

Schedule of components of income tax expense

The following is a summary of our provision for income taxes:

	Year Ended December 31,
	2021		2020		2018
	(in millions)
Provision for federal, state and local income taxes	$	1.4	$	1.3	$	0.8
Provision for foreign income taxes		2.4		3.6		2.0
Total provision for income taxes (1)	$	3.8	$	4.9	$	2.8

(1) The above amounts do not include gross income receipts or franchise taxes payable to certain states and municipalities.

Schedule of deferred tax assets and liabilities

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

	December 31,		December 31,
	2021		2020
	(in thousands)
Deferred tax assets:
Federal net operating loss carryforward	$	2,221	$	1,194
Deferred tax liability:
Foreign deferred tax liability (1)		(8,200)		(10,766)
Valuation allowance on deferred tax asset		(2,221)		(1,194)
Net deferred tax liability	$	(8,200)	$	(10,766)

(1) The deferred tax liability 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.