Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes consisted of the following:



	For the years ended
(dollars in thousands)	December 31, 2015			December 31, 2014			December 31, 2013
Current tax provision:
Federal	$	60,837		$	39,576		$	40,127
State	7,164			8,947			4,060
Total current provision	68,001			48,523			44,187

Deferred tax provision:
Federal	(9,855		)	16,037			(520		)
State	(2,216		)	(1,202		)	290
Total deferred (benefit) provision	(12,071		)	14,835			(230		)
Total provision	$	55,930		$	63,358		$	43,957

Schedule of Income (Loss) before Income Tax, Domestic and Foreign

Components of income (loss) before income taxes are as follows:



	For the years ended
	December 31, 2015			December 31, 2014		December 31, 2013

United States	$	147,427		$	165,289	$	122,193
Foreign	(2,109		)	—		—
Total income before income taxes	$	145,318		$	165,289	$	122,193

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the federal statutory rate to our effective rate is as follows:



	For the years ended
	December 31, 2015		December 31, 2014		December 31, 2013

Federal statutory income tax rate	35.0	%	35.0	%	35.0	%
State income taxes, net of federal income tax benefit	2.5		2.1		2.2
Non-deductible expenses	2.0		0.3		0.3
Domestic manufacturing deduction	(1.3	)	—		—
Unrecognized tax benefits	0.8		1.3		(1.0	)
Valuation allowance	0.5		—		—
Other	(1.0	)	(0.4	)	(0.5	)
Total	38.5	%	38.3	%	36.0	%

Summary of Unrecognized Tax Benefits

The following is a reconciliation of the beginning and ending amount of unrecognized tax benefits (which excludes federal benefits of state taxes, interest, and penalties):



(dollars in thousands)
Balance at December 31, 2012	$	—
Increases in uncertain tax benefits as a result of tax positions taken in a prior year	2,924
Increases in uncertain tax benefits as a result of tax positions taken in the current year	1,959
Balance at December 31, 2013	4,883
Increases in uncertain tax benefits as a result of tax positions taken in a prior year	206
Increases in uncertain tax benefits as a result of tax positions taken in the current year	2,429
Balance at December 31, 2014	7,518
Increases in uncertain tax benefits as a result of tax positions taken in the current year	1,845
Decreases in uncertain tax benefits from a lapse of applicable statute of limitations	(156		)
Balance at December 31, 2015	$	9,207

Schedule of Deferred Tax Assets and Liabilities

Components of deferred tax assets and liabilities were as follows:



(dollars in thousands)	December 31, 2015			December 31, 2014
Deferred tax assets:
Inventories	$	1,228		$	1,869
Accrued liabilities	12,491			307
Transaction costs	—			1,085
Stock-based compensation	1,378			1,024
Capitalized debt	237			301
Long-term incentive plan	834			746
Research and development	—			41
State net operating loss carryforwards	2,152			2,072
Foreign net operating loss carryforwards	254			—
State tax credits	1,826			325
Federal benefit related to uncertain tax positions	2,697			—
Other	518			322
Deferred tax assets, gross	23,615			8,092
Valuation allowance	(782		)	—
Total deferred tax assets, net	22,833			8,092

Deferred tax liabilities:
Property, plant, and equipment	(20,441		)	(18,176		)
Prepaids	(696		)	—
Bond premiums	(1,057		)	(1,348		)
Total deferred tax liabilities	(22,194		)	(19,524		)

Net deferred tax assets (liabilities)	$	639		$	(11,432	)