INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

Income taxes attributable to continuing operations consist of the following (amounts in millions):



	For the Years Ended December 31,
	2019		2018		2017
Current income tax expense/(benefit):
Federal	$	24.2	$	16.4	$	(2.0	)
State and local	4.8		2.1		(0.1		)
	29.0		18.5		(2.1		)
Deferred income tax expense/(benefit):
Federal	9.5		14.5		51.2
State and local	4.0		5.8		1.0
	13.5		20.3		52.2
Income tax expense	$	42.5	$	38.8	$	50.1

Total income tax expense for the years ended December 31, 2019, 2018 and 2017 was allocated as follows (amounts in millions):



	For the Years Ended December 31,
	2019		2018		2017
Income from continuing operations	$	42.5	$	38.8	$	50.1
Interest expense	0.3		0.1		—
Stockholders’ equity	—		—		(0.3		)
Goodwill	0.9		—		—
	$	43.7	$	38.9	$	49.8

Schedule of Sources of Tax Effects

A reconciliation of significant differences between the reported amount of income tax expense and the expected amount of income tax expense that would result from applying the U.S. federal statutory income tax rate of 21% in 2019 and 2018 and 35% in 2017 to income before taxes is as follows:



	For the Years Ended December 31,
	2019		2018		2017
Income tax expense at U.S. federal statutory rate (1)	21.0	%	21.0	%	35.0	%
State and local income taxes, net of federal income tax benefit	4.8		4.8		3.8
Excess tax benefits from share-based compensation	(1.9	)	(1.6	)	(3.5	)
Tax rate change (2)	—		—		26.5
Other items, net (3)	1.0		0.2		0.2
Income tax expense	24.9	%	24.4	%	62.0	%


(1)	On December 22, 2017, H.R. 1, originally known as the Tax Cuts and Jobs Act was enacted, which eliminated the progressive U.S. federal corporate tax rate structure with a maximum corporate tax rate of 35% and replaced it with a flat tax rate of 21%, effective January 1, 2018.

(2)

According to Accounting Standard Codification ("ASC") 740, Income Taxes, deferred tax assets and liabilities are remeasured to reflect the effects of enacted changes in tax rates at the date of enactment, even though the tax rate changes are not effective until a future period. The Company's remeasurement of its deferred tax assets and liabilities to reflect the enacted reduced tax rate, pursuant to the Tax Cuts and Jobs Act, resulted in a $21.4 million deferred income tax expense during 2017.

(3)

Includes various items such as non-deductible expenses, non-taxable income, tax credits, valuation allowance, uncertain tax positions and return-to-accrual adjustments.

Schedule of Net Deferred Tax Assets

Deferred tax assets (liabilities) consist of the following components (amounts in millions):



	As of December 31,
	2019			2018
Deferred tax assets:
Allowance for doubtful accounts	$	—		$	5.6
Accrued payroll & employee benefits	15.1			11.2
Workers’ compensation	9.0			8.3
Amortization of intangible assets	—			14.7
Share-based compensation	7.9			6.9
Compliance matters	4.8			2.2
Net operating loss carryforwards	3.7			5.9
Tax credit carryforwards	3.1			2.8
Other	0.8			0.7
Gross deferred tax assets	44.4			58.3
Less: valuation allowance	(0.4		)	(0.7		)
Net deferred tax assets	44.0			57.6
Deferred tax liabilities:
Property and equipment	(4.3		)	(4.4		)
Amortization of intangible assets	(0.3		)	—
Deferred revenue	(13.5		)	(13.5		)
Investment in partnerships	(3.3		)	(3.1		)
Other liabilities	(1.2		)	(0.8		)
Gross deferred tax liabilities	(22.6		)	(21.8		)
Net deferred tax assets (liabilities)	$	21.4		$	35.8

Schedule of Uncertain Tax Positions

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (amounts in millions):



	For the Years Ended December 31,
	2019		2018		2017
Balance at beginning of period	$	2.7	$	2.7	$	4.1
Additions for tax positions related to current year	—		—		—
Additions for tax positions related to prior year	—		—		—
Reductions for tax positions related to prior years	—		—		—
Lapse of statute of limitations	—		—		(0.3		)
Change in statutory tax rate (1)	—		—		(1.1		)
Settlements	—		—		—
Balance at end of period	$	2.7	$	2.7	$	2.7