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INCOME TAXES
6 Months Ended
Jun. 30, 2022
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXESThe Company’s provision for income taxes as of June 30, 2022 has been calculated by applying an estimate of the annual effective tax rate for the full year to “ordinary” income or loss (pre-tax income or loss excluding unusual or infrequently occurring discrete items). For the six months ended June 30, 2022, the Company’s income tax expense was $3,041,000 compared to $1,139,000 for the six months ended June 30, 2021. Effective tax rates were 45% and 39% for the six months ended June 30, 2022 and 2021, respectively. As of June 30, 2022, the Company had income tax payables of $2,176,000. The Company classifies interest and penalties incurred on tax payments as income tax expense.For the six months ended June 30, 2022, the Company’s effective tax rate was above statutory tax rates as a result of permanent differences related to Section 162(m) limitations and discrete tax expense associated with interest rate swap termination proceeds. The Section 162(m) compensation deduction limitations occurred as a result of changes in tax law arising from the 2017 Tax Cuts Jobs Act. The discrete item was primarily triggered after the Company terminated an existing interest rate swap position that was in a net asset position and as a result, received proceeds of $1,123,000.