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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2019
Income Taxes  
Schedule of components of provision (benefit) for income taxes

Years ended December 31,

    

2019

    

2018

    

2017

(in thousands)

  

  

  

Current provision (benefit):

  

  

  

Federal

$

(3,548)

$

13,708

$

95,995

State

 

(3,185)

 

3,932

 

13,966

Foreign

 

2,968

 

6,843

 

2,953

Deferred provision (benefit):

 

  

 

  

 

  

Federal

 

(26,493)

 

23,203

 

(39,710)

State

 

4,268

 

(1,808)

 

(2,899)

Total income tax (benefit) provision

$

(25,990)

$

45,878

$

70,305

Schedule of reconciliation between the federal statutory rate and effective tax rate

Years ended December 31,

    

2019

    

2018

    

2017

 

Federal statutory rate

21.0

%  

21.0

%  

35.0

%

State income taxes, net of federal benefit

(0.3)

2.6

1.9

 

Tax credits

 

0.3

 

(0.1)

 

(0.7)

Non-deductible expenses

 

(1.9)

 

1.8

 

2.0

Adjustments related to the Act

 

 

(2.3)

 

(8.3)

Adjustments related to vesting of restricted stock

 

(0.4)

 

(0.8)

 

(1.2)

Other

 

4.3

 

(1.5)

 

1.5

Effective tax rate

 

23.0

%  

20.7

%  

30.2

%

Schedule of deferred tax assets and liabilities

December 31,

    

2019

    

2018

(in thousands)

  

  

Deferred tax assets:

 

  

 

  

Self-insurance

$

5,729

$

5,055

Pension

 

9,617

 

7,261

State net operating loss carryforwards

 

1,445

 

1,663

Bad debt

 

1,392

 

1,291

Stock-based compensation

 

3,358

 

3,501

Inventory reserve

2,478

2,447

Impairment reserve

2,802

Foreign tax credit carryforwards

 

3,086

 

Federal net operating loss carryforwards

19,664

Basis differences in consolidated limited liability company

5,778

All others

 

2,191

 

1,690

Gross deferred tax assets

 

57,540

 

22,908

Deferred tax liabilities:

 

 

  

Depreciation

 

(87,647)

 

(71,647)

Goodwill amortization

 

(6,763)

 

(6,587)

Basis differences in consolidated limited liability company

 

 

(4,636)

Basis differences in joint ventures

 

(444)

 

(408)

All others

 

(5)

 

(5)

Gross deferred tax liabilities

 

(94,859)

 

(83,283)

Net deferred tax liabilities

$

(37,319)

$

(60,375)

Schedule of reconciliation of unrecognized tax benefits

    

2019

    

2018

Balance at January 1

$

2,215,000

$

2,215,000

Additions based on tax positions related to the current year

 

 

Additions for tax positions of prior years

 

 

Reductions for tax positions of prior years

 

 

Balance at December 31

$

2,215,000

$

2,215,000