Income Taxes Income Tax Provision (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| Income Tax Disclosure [Abstract] |
|
| Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] |
The provision for income taxes consists of the following:
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|
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2019 |
|
2018 |
|
2017 |
Current: |
|
|
|
|
|
Federal |
$ |
17,319 |
|
|
$ |
16,572 |
|
|
$ |
28,556 |
|
State |
4,925 |
|
|
3,559 |
|
|
4,043 |
|
|
22,244 |
|
|
20,131 |
|
|
32,599 |
|
Deferred: |
|
|
|
|
|
|
Federal |
5,561 |
|
|
7,194 |
|
|
(11,860 |
) |
State |
1,207 |
|
|
870 |
|
|
(457 |
) |
|
6,768 |
|
|
8,064 |
|
|
(12,317 |
) |
|
$ |
29,012 |
|
|
$ |
28,195 |
|
|
$ |
20,282 |
|
|
| Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] |
The historical income tax expense differs from the amounts computed by applying the federal statutory rate of 21.0% for 2019 and 2018 and 35.0% for 2017 to income before income taxes as follows:
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|
2019 |
|
2018 |
|
2017 |
Tax expense at the statutory rate |
$ |
24,383 |
|
|
$ |
25,252 |
|
|
$ |
37,637 |
|
State income taxes, net of federal benefit |
4,843 |
|
|
3,685 |
|
|
2,339 |
|
Share-based compensation |
(587 |
) |
|
(50 |
) |
|
(366 |
) |
Qualified stock options |
34 |
|
|
12 |
|
|
32 |
|
Other permanent differences |
189 |
|
|
150 |
|
|
252 |
|
Section 162(m) limitation |
421 |
|
|
13 |
|
|
— |
|
Deferred tax asset valuation allowance |
— |
|
|
35 |
|
|
78 |
|
Federal qualified property deductions |
— |
|
|
— |
|
|
(2,075 |
) |
Federal income tax credits |
(183 |
) |
|
(207 |
) |
|
(58 |
) |
Non-taxable acquisitions |
— |
|
|
— |
|
|
(568 |
) |
Rate impact on deferred tax liabilities |
— |
|
|
— |
|
|
(15,901 |
) |
Other |
(88 |
) |
|
(695 |
) |
|
(1,088 |
) |
|
$ |
29,012 |
|
|
$ |
28,195 |
|
|
$ |
20,282 |
|
|
| Schedule of Deferred Tax Assets and Liabilities [Table Text Block] |
Significant components of the Company’s deferred tax liabilities and assets are as follows:
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|
|
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|
December 31,
2019 |
|
December 31,
2018 |
Deferred tax assets: |
|
|
|
Accrued expenses |
$ |
8,454 |
|
|
$ |
10,362 |
|
Allowance for doubtful accounts |
539 |
|
|
535 |
|
Operating lease obligations |
38,822 |
|
|
— |
|
Share-based compensation |
3,881 |
|
|
3,526 |
|
Accruals for income tax contingencies |
185 |
|
|
217 |
|
Net operating loss carryforwards |
1,089 |
|
|
2,906 |
|
Total deferred tax assets |
52,970 |
|
|
17,546 |
|
Valuation allowance |
(395 |
) |
|
(395 |
) |
Total deferred tax assets, net of valuation allowance |
52,575 |
|
|
17,151 |
|
Deferred tax liabilities: |
|
|
|
Tax over book depreciation |
26,816 |
|
|
25,606 |
|
Prepaid expenses deductible when paid |
4,356 |
|
|
3,902 |
|
Operating lease right-of-use assets |
38,822 |
|
|
— |
|
Goodwill |
16,036 |
|
|
13,913 |
|
Intangible assets |
10,487 |
|
|
10,904 |
|
Total deferred tax liabilities |
96,517 |
|
|
54,325 |
|
Net deferred tax liabilities |
$ |
(43,942 |
) |
|
$ |
(37,174 |
) |
|
| Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Table Text Block] |
A reconciliation of the beginning and ending amount of unrecognized tax benefit is as follows:
|
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|
|
|
|
Liability for |
|
Unrecognized Tax |
|
Benefits |
Balance at December 31, 2016 |
582 |
|
Reductions for settlement with state taxing authorities |
(14 |
) |
Additions for tax positions of prior years |
400 |
|
Additions for tax positions of current year |
366 |
|
Balance at December 31, 2017 |
1,334 |
|
Reductions for settlement with state taxing authorities |
(271 |
) |
Reductions for tax positions of prior years |
(40 |
) |
Additions for tax positions of current year |
35 |
|
Balance at December 31, 2018 |
1,058 |
|
Reductions for settlement with state taxing authorities |
(99 |
) |
Additions for tax positions of current year |
28 |
|
Balance at December 31, 2019 |
$ |
987 |
|
|