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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2022
Income Taxes [Abstract]  
Income Tax Expense (Benefit)
Income tax expense (benefit) for the years ended December 31 consists of the following components:

 
2022
   
2021
   
2020
 
   
Current
   
Deferred
   
Total
   
Current
   
Deferred
   
Total
   
Current
   
Deferred
   
Total
 
Federal
 
$
8,457
   
$
(4,713
)
 
$
3,744
   
$
11,315
   
$
(583
)
 
$
10,732
   
$
5,285
   
$
3,642
   
$
8,927
 
State and Local
   
2,815
     
(1,291
)
   
1,524
     
4,210
     
(637
)
   
3,573
     
1,930
     
1,100
     
3,030
 
Foreign
    83       (502 )     (419 )     -       (265 )     (265 )     -       -       -  
Total
 
$
11,355
   
$
(6,506
)
 
$
4,849
   
$
15,525
   
$
(1,485
)
 
$
14,040
   
$
7,215
   
$
4,742
   
$
11,957
 
Deferred Tax Assets and Liabilities
Deferred tax assets and liabilities consists of:

    December 31,     December 31,  

  2022    
2021
 
   
Assets
   
Liabilities
   
Assets
   
Liabilities
 
Inventory
 
$
1,384
   
$
-
   
$
2,096
   
$
2
 
Property, plant, and equipment
   
-
     
2,856
     
-
     
3,259
 
Goodwill and other intangible assets
   
-
     
2,812
     
-
     
8,573
 
Foreign NOL carryforward
   
561
     
-
     
265
     
-
 
State NOL carryforward
   
2,483
     
-
     
2,421
     
-
 
Unrealized loss on investments
   
5,168
     
-
     
1,322
     
-
 
Leases
   
3,544
     
3,222
     
4,150
     
3,826
 
Original issue discount
   
1,604
     
-
     
2,720
     
-
 
Other
   
8,614
     
2,963
     
9,003
     
2,305
 
Gross deferred income taxes
   
23,358
     
11,853
     
21,977
     
17,965
 
Valuation allowance
   
(3,062
)
   
-
     
(2,649
)
   
-
 
Net deferred income taxes
 
$
20,296
   
$
11,853
   
$
19,328
   
$
17,965
 
Reconciliation of Statutory to Effective Income Tax Rate
Reconciliation of the federal statutory rate and the effective income tax rate for the years ended December 31 is as follows:

 
2022
   
2021
   
2020
 
Federal statutory rate
   
21.0
%
   
21.0
%
   
21.0
%
Foreign rate differential
    -0.5 %     -0.1 %     0.0 %
State taxes
   
5.7
%
   
3.4
%
   
2.9
%
Permanent differences
   
-0.2
%
   
-4.1
%
   
-1.6
%
Other
   
1.7
%
   
0.7
%
   
4.7
%
Valuation allowance
   
2.6
%
   
0.6
%
   
-3.2
%
Effective income tax rate
   
30.3
%
   
21.5
%
   
23.8
%