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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Provision (Benefit)
Income tax provision (benefit) is summarized as follows:
Year Ended December 31,
(In thousands)202220212020
Current:
Federal$13,877 $— $(371)
State274 95 — 
Total current tax provision (benefit)$14,151 $95 $(371)
Deferred:
Federal$(13,462)$325 $430 
State(168)16 
Total deferred tax (benefit) provision(13,630)341 432 
Income tax provision$521 $436 $61 
Schedule of Effective Income Tax Rate Reconciliation
Reconciliation of the statutory federal income tax rate to the Company’s actual rate based on income (loss) before income tax provision (benefit) is summarized below:
Year Ended December 31,
202220212020
Statutory federal tax rate21.00 %21.00 %21.00 %
State income taxes, net of federal income taxes0.62 1.41 0.89 
Permanent tax differences – stock compensation(6.31)(3.93)(0.43)
Permanent tax differences – business meals0.44 0.23 (0.07)
Permanent tax differences – executive compensation and other9.27 2.13 (0.86)
Change in valuation allowance(23.99)(19.69)(19.09)
FICA credit generated(1.09)(0.28)0.33 
Change in tax rate and apportionment(0.26)(0.03)0.11 
Deferred only adjustment to beginning deferred balances0.95 (0.57)(1.92)
Effective tax rate0.63 %0.27 %(0.04)%
Schedule of Deferred Tax Assets and Liabilities
The Company’s current and non-current deferred tax assets (liabilities) are comprised of the following:
December 31,
(In thousands)20222021
Deferred tax assets:
Accruals and reserves$6,350 $7,688 
Share-based compensation expense966 5,781 
General business credit carryforward— 489 
State tax credits3,867 4,192 
Net operating loss carryforwards753 6,076 
Operating lease obligation36,483 41,877 
Depreciation of fixed assets6,532 4,875 
Other493 545 
55,444 71,523 
Valuation allowances(5,680)(30,783)
$49,764 $40,740 
Deferred tax liabilities:
Prepaid services$(2,116)$(3,282)
Amortization of intangible assets(2,895)(941)
Right-of-use assets(32,984)(38,378)
(37,995)(42,601)
Net deferred tax assets (liabilities)$11,769 $(1,861)
Non-current deferred tax assets$11,822 $— 
Non-current deferred tax liabilities(53)(1,861)
Net deferred tax assets (liabilities)$11,769 $(1,861)