Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Significant Components of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities as of December 31 are as follows:

	2019		2018
Deferred tax assets:
Employee benefits	$	403	$	829
Inventories		4,059		3,902
Goodwill & other intangibles		3,015		2,350
Net operating loss		103,454		88,341
Foreign tax credits		667		667
Interest		3,414		2,200
Accrued expenses		1,473		3,496
Lease liabilities		12,788		—
Depreciation		16,225		352
Total deferred tax assets		145,498		102,137
Deferred tax liabilities:
Depreciation		—		30,054
Indefinite-lived intangibles		—		817
Right of use assets		2,100		—
Other		19		—
Total deferred tax liabilities		2,119		30,871
Valuation Allowance		143,379		72,380
Net deferred tax liabilities	$	—	$	(1,114	)

Significant Components of Provision for Income Taxes

Significant components of the provision for income taxes for the years ended December 31 are as follows:

	2019			2018
Current:
Federal	$	(783	)	$	—
State		(340	)		(34	)
Foreign		36			42
Total current		(1,087	)		8
Deferred		(1,127	)		884
	$	(2,214	)	$	892

Reconciliation of Income Taxes Computed at U.S. Statutory Tax Rate to Income Tax Expense

The reconciliation of income taxes computed at the U.S. statutory tax rate to the Company’s income tax expense for the years ended December 31 is as follows:

	2019						2018
	Amount			Percent			Amount			Percent
U.S. statutory rate	$	(64,347	)		(21.0	)%	$	(15,658	)		(21.0	)%
State income taxes, net of federal tax benefit		(6,250	)		(2.0	)		(2,152	)		(2.9	)
Mining depletion		(211	)		(0.1	)		(163	)		(0.2	)
Change in election for foreign tax credits		36			—			32			—
Foreign investments		—			—			271			0.4
Stock compensation excess tax deficiency		354			0.1			348			0.5
Other permanent differences		(2,795	)		(0.9	)		663			0.9
Valuation allowance		70,999			23.2			17,551			23.5
	$	(2,214	)		(0.7	)%	$	892			1.2	%