Income Taxes (Tables)
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12 Months Ended |
Sep. 30, 2014
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Income Tax Disclosure [Abstract] |
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Components of income tax expense |
The components of income tax expense are as follows: | | | | | | | | | | | | | | | | Year Ended September 30, | 2014 | | 2013 | | 2012 | Current expense | | $ | 7,760 |
| | $ | 6,807 |
| | $ | 14,474 |
| Deferred (benefit) expense | | (4,050 | ) | | (3,794 | ) | | (8,489 | ) | Total provision for income taxes | | $ | 3,710 |
| | $ | 3,013 |
| | $ | 5,985 |
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Reconciliation of tax rate |
The income tax provision differs from the tax that would result from application of the statutory federal tax rate of 35.0% to pre-tax income for the year. The reasons for the differences are as follows: | | | | | | | | | | | | | | | | Year Ended September 30, | 2014 | | 2013 | | 2012 | Income tax expense at statutory rate | | $ | 2,012 |
| | $ | 2,419 |
| | $ | 5,285 |
| State income taxes, net of federal tax benefit | | 697 |
| | 504 |
| | 483 |
| Deferred tax asset write-off related to share based compensation | | 828 |
| | — |
| | — |
| Other, net | | 173 |
| | 90 |
| | 217 |
| Total income tax expense | | $ | 3,710 |
| | $ | 3,013 |
| | $ | 5,985 |
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Components of Deferred tax assets (liabilities) |
The components of the deferred tax assets (liabilities) recorded in the accompanying consolidated balance sheets were as follows: | | | | | | | | | | | | September 30, | 2014 | | 2013 | Gross deferred tax assets: | | | | | Compensation not yet deductible for tax | | $ | 6,992 |
| | $ | 7,997 |
| Allowance for uncollectible accounts | | 1,480 |
| | 1,618 |
| Expenses and accruals not yet deductible | | 6,308 |
| | 7,224 |
| Deferred revenue | | 16,318 |
| | 12,110 |
| Net operating loss carryovers | | 175 |
| | 226 |
| State tax credit carryforwards | | 319 |
| | 308 |
| Valuation allowance | | (273 | ) | | (224 | ) | Total deferred tax assets, net | | 31,319 |
| | 29,259 |
| Gross deferred tax liabilities: | | | | | Amortization of goodwill and intangibles | | (8,026 | ) | | (8,026 | ) | Depreciation and amortization of property and equipment | | (2,536 | ) | | (4,052 | ) | Prepaid expenses deductible for tax | | (1,364 | ) | | (893 | ) | Total deferred tax liabilities, net | | (11,926 | ) | | (12,971 | ) | Net deferred tax assets | | $ | 19,393 |
| | $ | 16,288 |
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Classification of deferred tax assets (liabilities) |
The deferred tax assets are reflected in the accompanying consolidated balance sheets as follows: | | | | | | | | | | | | September 30, | 2014 | | 2013 | Current deferred tax assets, net | | $ | 7,470 |
| | $ | 7,453 |
| Noncurrent deferred tax assets, net | | 11,923 |
| | 8,835 |
| Net deferred tax assets | | $ | 19,393 |
| | $ | 16,288 |
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Summary of valuation allowance |
The following table summarizes the activity for the valuation allowance for the year ended September 30: | | | | | | | | | | | | | | | | | | | | Balance at Beginning of Period | | Additions (Reductions) to Income Tax Expense | | Write-offs | | Balance at End of Period | 2014 | | $ | 224 |
| | $ | 49 |
| | $ | — |
| | $ | 273 |
| 2013 | | $ | 80 |
| | $ | 144 |
| | $ | — |
| | $ | 224 |
| 2012 | | $ | 110 |
| | $ | (30 | ) | | $ | — |
| | $ | 80 |
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