Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Taxes

Significant components of the Companys deferred tax liabilities and assets

Significant components of the Company’s deferred tax liabilities and assets are as follows:

	December 31,
	2019		2018
	(In thousands)
Deferred tax liabilities:
Property and equipment	$	5,181	$	5,145
Intangible assets		20,765		19,324
Prepaid expenses		376		350
Total deferred tax liabilities		26,322		24,819
Deferred tax assets:
Allowance for doubtful accounts		64		118
Compensation		1,011		906
Other accrued liabilities		95		63
		1,170		1,087
Less: valuation allowance		—		—
Total net deferred tax assets		1,170		1,087
Net deferred tax liabilities	$	25,152	$	23,732
Current portion of deferred tax assets	$	388	$	303
Non-current portion of deferred tax liabilities		(25,540)		(24,035)
Net deferred tax liabilities	$	(25,152)	$	(23,732)

Significant components of the provision for income taxes

The significant components of the provision for income taxes are as follows:

	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Current:
Federal	$	2,900	$	2,205	$	2,545
State		1,100		835		(255)
Total current		4,000		3,040		2,290
Total deferred		1,420		2,660		(8,210)
Total Income Tax Provision	$	5,420	$	5,700	$	(5,920)

Reconciliation of income tax

The reconciliation of income tax at the U.S. federal statutory tax rates to income tax expense (benefit) is as follows:

	Years Ended December 31,
	2019		2018		2017
	(In thousands)
Tax expense at U.S. statutory rates	$	3,976	$	4,017	$	5,716
State tax expense (benefit), net of federal benefit		1,079		1,134		(769)
Other, net		365		549		633
Federal tax reform - deferred tax rate change		—		—		(11,500)
	$	5,420	$	5,700	$	(5,920)