Income taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income taxes

Schedule of provision for income taxes

Years Ended December 31,	2023		2022		2021
(in thousands)
Current:
Federal	$	10,319	$	11,995	$	453
State and local		2,940		2,835		350
		13,259		14,830		803
Deferred:
Federal		3,667		(323)		267
State and local		647		(1,126)		70
		4,314		(1,449)		337
Expense for income taxes	$	17,573	$	13,381	$	1,140

Schedule of reconciliation of the Company's actual tax rate to the U.S. Federal statutory rate

Years ended December 31,	2023		2022		2021
Income tax rates
- Statutory U.S. federal rate	21	%	21	%	21	%
- State income taxes, net of federal benefit	4	%	4	%	0	%
- Excess tax benefits related to stock compensation	(1)	%	(1)	%	(4)	%
- 162m limitation	1	%	1	%	—
- PPP Benefit	0	%	0	%	(2)	%
- Change in valuation allowance	0	%	(13)	%	(12)	%
- Other true-up	0	%	(1)	%	—
Total	25	%	11	%	3	%

Schedule of net deferred income tax assets (liabilities)

December 31,	2023		2022
(in thousands)
Deferred tax assets (liabilities):
- Reserve for doubtful accounts	$	497	$	500
- Inventory reserve		687		1,045
-Non qualified stock options		529		383
- Deferred interest		—		2,637
- Accrued expenses		82		107
Total Deferred income tax assets	$	1,795	$	4,672
Deferred tax liabilities:
- Depreciation and amortization		(6,353)		(4,916)
Total deferred tax liabilities		(6,353)		(4,916)
Net deferred tax liabilities	$	(4,558)	$	(244)