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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Schedule of Components of Provision for Income Taxes The provision for income taxes for the years ended December 31, 2022, 2021, and 2020 included the following components:
(in thousands) 2022 20212020
Current:   
Federal $3,045 $381 $10,932 
State 1,476 (622)3,184 
Total Current4,521 (241)14,116 
  
Deferred: 
Federal 1,505 4,274 3,289 
State 457 1,233 475 
 Total Deferred 1,962 5,507 3,764 
Provision for income taxes $6,483 $5,266 $17,880 
Schedule of Reconciliation of Income Tax Provision The following table reconciles the income tax benefit that would result from application of the statutory federal tax rate, 21%, 21%, and 21% for the years ended December 31, 2022, 2021, and 2020 respectively, to the amount included in the consolidated statement of operations:
(in thousands)202220212020
Expected provision at federal statutory rate$3,714 $(31)$17,630 
Increase (decrease) resulting from:
Non-controlling interest(963)3,475 (6,464)
Preferred Stock dividends1,198 1,264 1,304 
State income taxes, net of federal income tax effect1,918 1,745 3,651 
Prior year tax adjustments148 (996)— 
Deferred asset true up225 (282)1,421 
Penalties238 (158)305 
Stock conversion— 1,486 — 
Rate differential on loss carryback— (1,157)— 
Other(80)33 
Provision for income taxes$6,483 $5,266 $17,880 
Schedule of Deferred Tax Assets The components of our deferred tax assets as of December 31, 2022 and 2021 are as follows:
(in thousands)20222021
Deferred Tax Assets:
Investment in Spark HoldCo$16,931 $19,424 
Derivative Liabilities333 — 
Intangibles2,919 2,822 
Other 552 599 
Total deferred tax assets20,735 22,845 
Deferred Tax Liabilities:
Derivative Liabilities— (245)
Other(298)(202)
 Total deferred tax liabilities (298)(447)
Total deferred tax assets/liabilities $20,437 $22,398