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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Components of Income (Loss) Before Taxes from Continuing Operations
The components of income (loss) before taxes from continuing operations consisted of the following for the years ended December 31 (in thousands):
202020192018
Domestic$108,930 $78,351 $70,783 
Foreign(1,171)(270)(3,660)
Income before taxes from continuing operations$107,759 $78,081 $67,123 
Summary of Provision for Income Taxes for Continuing Operations
The provision for (benefit of) income taxes from continuing operations for the years ended December 31 consisted of the following (in thousands):
202020192018
Current:
U.S. Federal$16,505 $10,394 $8,316 
State4,071 3,547 2,942 
Foreign106 92 (2,972)
Total current20,682 14,033 8,286 
Deferred:
U.S. Federal3,620 3,740 4,253 
State672 486 853 
Foreign(506)(106)(381)
Total deferred3,786 4,120 4,725 
Provision for income taxes$24,468 $18,153 $13,011 
(Benefit of) Provision for Income Taxes from Discontinued Operations
The provision for (benefit of) income taxes from discontinued operations for the years ended December 31 consisted of the following (in thousands):
202020192018
Current:
U.S. Federal$1,345 $885 $1,086 
State57 202 
Foreign1,725 1,447 1,781 
Total current3,127 2,336 3,069 
Deferred:
U.S. Federal(876)(823)(95)
State10 23 194 
Foreign(138)(17)(43)
Total deferred(1,004)(817)56 
Provision for income taxes$2,123 $1,519 $3,125 
Provision for Income Taxes from Continuing Operations Differs from the Federal Statutory Rate
The provision for income taxes from continuing operations differs from the federal statutory rate of 21% due to the following (in thousands) for the years ended December 31:
 202020192018
Statutory rate22,629 21.0 %16,397 21.0 %14,096 21.0 %
State taxes, less federal effect3,650 3.4 %3,194 4.1 %2,901 4.3 %
Federal tax credits(1,064)(1.0)%(1,621)(2.1)%(742)(1.1)%
Excess tax benefit on stock based compensation(1,674)(1.6)%(871)(1.1)%(2,224)(3.3)%
Uncertain tax positions— — %(260)(0.3)%(3,051)(4.5)%
Executive compensation1,114 1.0 %1,132 1.4 %1,369 2.0 %
Change in valuation allowance(130)(0.1)%88 0.1 %(1,694)(2.5)%
Net operating loss (NOL) write down— — %— — %1,640 2.4 %
Change in Indemnification Asset— — %— — %643 1.0 %
Other(57)— %94 0.1 %73 0.1 %
$24,468 22.7 %$18,153 23.2 %$13,011 19.4 %
Deferred Tax Liabilities (Assets)
Deferred tax liabilities (assets) at December 31 consist of the following (in thousands):
20202019
Depreciation$7,697 $7,556 
Goodwill41,842 38,610 
Intangible assets5,632 6,171 
Other6,878 6,158 
Gross deferred tax liabilities62,049 58,495 
Equity compensation(7,496)(9,530)
Other(15,682)(13,939)
Gross deferred tax assets(23,178)(23,469)
Valuation allowances111 298 
Deferred tax assets, net of valuation allowances(23,067)(23,171)
Net deferred tax liabilities$38,982 $35,324 
Summary of Valuation Allowance The following sets forth a reconciliation of the beginning and ending amount of the Company’s valuation allowance (in thousands):
202020192018
Balance as of January 1$298 $206 $2,002 
Cost charged to the tax provision70 100 45 
Reductions(248)(10)(1,747)
Currency translation(9)(94)
Balance as of December 31$111 $298 $206 
Interest (Net of Federal Tax Benefit) and Penalties Recognized
Interest (net of federal tax benefit) and penalties recognized during the years ended December 31 were (in thousands):
202020192018
Interest and penalties recognized as income— — 13 
Income Taxes Paid, Net of Tax Refunds
The Company made net payments for income taxes for the following amounts for the years ended December 31 (in thousands):
202020192018
Payments made for income taxes, net$21,351 $16,744 $14,128 
Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):
202020192018
Balance as of January 1$— $329 $3,536 
Additions for tax positions of the current year— — 15 
Additions for tax positions of prior years— — — 
Reductions for tax positions of prior years for:
Settlements and changes in judgment— — — 
Lapses of applicable statute of limitations— (329)(3,060)
Divestitures and foreign currency translation— — (162)
Balance as of December 31$— $— $329