Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Income Before Provision (Benefit) for Income Taxes

Income before provision (benefit) for income taxes consisted of the following:

(in thousands)	Year Ended December 31,
	2020		2019		2018
U.S.	$	131,898	$	129,045	$	104,881
Foreign		146		80		(186	)
	$	132,044	$	129,125	$	104,695

Provision (Benefit) for Income Taxes

The provision (benefit) for income taxes consisted of the following:

(in thousands)	Year Ended December 31,
	2020			2019			2018
Current:
U.S. Federal	$	23,975		$	11,744		$	7,270
State		6,545			7,353			4,253
Foreign		1,733			1,616			1,731
		32,253			20,713			13,254
Deferred:
U.S. Federal		(755	)		10,719			10,355
State		(1,424	)		895			1,637
Foreign		(14	)		(8	)		43
		(2,193	)		11,606			12,035
Total	$	30,060		$	32,319		$	25,289

Reconciliation of U.S. Federal Statutory Tax Rate to Company's Effective Tax Rate

The reconciliation of the U.S. federal statutory tax rate to the Company’s effective tax rate is as follows:

	Year Ended December 31,
	2020			2019			2018
U.S. federal statutory rate		21.0	%		21.0	%		21.0	%
State taxes, net of federal benefit		4.7			5.0			5.0
State deferred tax apportionment change, net of federal benefit		(1.6	)		0.1			0.7
Valuation allowance		0.0			0.0			(0.5	)
Share-based compensation		(1.4	)		(1.6	)		(1.9	)
Enactment of the Tax Cuts and Jobs Act		(0.3	)		(0.1	)		(0.1	)
Other		0.4			0.6			0.0
		22.8	%		25.0	%		24.2	%

Deferred Income Taxes Related to Temporary Differences between Tax Bases of Assets and Liabilities

The following table shows the deferred income taxes related to the temporary differences between the tax bases of assets and liabilities and the respective amounts included in “Deferred income taxes, net” on the Company’s Consolidated Balance Sheets:

(in thousands)	December 31,
	2020		2019
Deferred tax liabilities:
Accelerated depreciation	$	217,125	$	221,627
Prepaid costs currently deductible		5,039		5,668
Other		5,970		5,011
Total deferred tax liabilities		228,134		232,306
Deferred tax assets:
Accrued costs not yet deductible		9,200		8,860
Allowance for doubtful accounts		536		486
Deferred revenues		—		2,512
Share-based compensation		2,321		2,178
Total deferred tax assets, net of valuation allowance of $0.2 million in 2020 and 2019		12,057		14,036
Deferred income taxes, net	$	216,077	$	218,270