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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Provision for Income Taxes for Continuing Operations - Benefit (Expense)

The provision for income taxes for continuing operations - benefit (expense) consists of the following:


	Year Ended December 31,
	2020		2019		2018
	(In thousands)
Current:
Federal	$	(33,819)	$	(62,016)	$	(37,028)
State	(16,549)		(12,563)		(7,411)
Total current	(50,368)		(74,579)		(44,439)
Deferred	34,468		19,471		21,517
Total provision for income taxes for continuing operations - benefit (expense)	$	(15,900)	$	(55,108)	$	(22,922)

Reconciliation of Statutory Federal Income Tax Rate with Federal and State Overall Effective Income Tax Rate from Continuing Operations

The reconciliation of the U.S. statutory federal income tax rate with our federal and state overall effective income tax rate from continuing operations is as follows:


	Year Ended December 31,
	2020		2019		2018
U.S. statutory federal income tax rate	21.00	%	21.00	%	21.00	%
Effective state income tax rate	(8.44)	%	4.10	%	4.60	%
Valuation allowance adjustments	7.45	%	(0.18)	%	0.20	%
Uncertain tax positions	(0.63)	%	(0.45)	%	0.17	%
Effect of goodwill impairment	(60.22)	%	0.00	%	0.00	%
Non-deductible compensation	(7.13)	%	1.48	%	3.06	%
Tax credits	7.37	%	0.00	%	0.00	%
Other	(5.13)	%	1.65	%	1.41	%
Effective income tax rate	(45.73)	%	27.60	%	30.44	%

Components of Deferred Tax Assets and Liabilities

Significant components of our deferred tax assets and liabilities are as follows:


	December 31, 2020		December 31, 2019
	(In thousands)
Deferred tax assets:
Accruals and reserves	$	32,920	$	27,271
State net operating loss carryforwards	8,965		10,771
Basis difference in property and equipment	9,941		20,923
Interest and state taxes associated with the liability for uncertain income tax positions	987		938
Fair value of interest rate swaps and interest rate caps	1,354		1,153
Basis difference in liabilities related to right-of-use assets	98,447		93,808
Basis difference in inventories	427		—
Other	1,904		2,146
Total deferred tax assets	154,945		157,010

Deferred tax liabilities:

Basis difference in inventories	—		(804)

Basis difference in goodwill	(24,497)		(61,397)
Basis difference in right-of-use assets	(95,078)		(90,679)
Other	(1,603)		(2,316)
Total deferred tax liabilities	(121,178)		(155,196)
Valuation allowance	(5,184)		(7,775)
Net deferred tax asset (liability)	$	28,583	$	(5,961)

Summary of Changes in Liability Related to Unrecognized Tax Benefits

A summary of the changes in the liability related to our unrecognized tax benefits is presented below.


	2020		2019		2018
	(In thousands)
Unrecognized tax benefit liability, January 1 (1)	$	3,839	$	4,901	$	4,645
New positions	—		—		—
Prior period positions:
Increases	1,749		1,795		7
Decreases	(2,230)		(2,697)		(199)
Increases from current period positions	774		582		714
Settlements	—		(653)		—
Lapse of statute of limitations	(8)		(8)		(69)
Other	(89)		(81)		(197)
Unrecognized tax benefit liability, December 31 (2)	$	4,035	$	3,839	$	4,901

(1)Excludes accrued interest and penalties of $0.5 million, $0.6 million and $0.6 million at January 1, 2020, 2019 and 2018, respectively.

(2)Excludes accrued interest and penalties of $0.5 million, $0.5 million and $0.6 million at December 31, 2020, 2019 and 2018, respectively.