Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.20.4
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2020
Income Taxes [Abstract]  
United States And Foreign Components Of Income From Continuing Operations Before Income Taxes



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

For the Years Ended December 31,



 

2020

 

2019

 

2018

U.S.

 

$

(59,096)

 

 

29,638 

 

 

(2,170)

Foreign

 

 

849 

 

 

(653)

 

 

(852)

Total

 

$

(58,247)

 

 

28,985 

 

 

(3,022)



Provision For Income Taxes



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

For the Years Ended December 31,



 

2020

 

2019

 

2018

Current:

 

 

 

 

 

 

 

 

 

Federal

 

$  

(5,895)

 

 

4,163 

 

 

914 

State

 

 

(599)

 

 

1,738 

 

 

536 



 

 

(6,494)

 

 

5,901 

 

 

1,450 

Deferred:

 

 

 

 

 

 

 

 

 

Federal

 

 

(3,800)

 

 

2,665 

 

 

1,471 

State

 

 

(937)

 

 

(232)

 

 

(56)



 

 

(4,737)

 

 

2,433 

 

 

1,415 

(Benefit) provision for income taxes

 

$  

(11,231)

 

 

8,334 

 

 

2,865 



Actual Provision For Income Taxes From Continuing Operations Rate



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

For the Years Ended December 31,



 

2020

 

2019

 

2018

Income tax (benefit) provision at expected federal income tax rate (1)

 

$

(12,232)

 

 

6,087 

 

 

(635)

Increase (decrease) resulting from:

 

 

 

 

 

 

 

 

 

(Benefit) provision for state taxes, net of federal effect

 

 

(1,219)

 

 

1,156 

 

 

343 

Taxes related to noncontrolling interests in subsidiaries not consolidated for income tax purposes

 

 

854 

 

 

62 

 

 

83 

Nondeductible goodwill

 

 

437 

 

 

 —

 

 

832 

Nondeductible executive compensation

 

 

773 

 

 

1,119 

 

 

1,205 

(Decrease) increase in valuation allowance

 

 

(142)

 

 

(153)

 

 

226 

Other – net

 

 

298 

 

 

63 

 

 

811 

(Benefit) provision for income taxes

 

$

(11,231)

 

 

8,334 

 

 

2,865 



(1)

Expected tax is computed based upon (loss) income from continuing operations before income taxes.

Schedule Of Deferred Tax Assets And Liabilities





 

 

 

 

 

 



 

 

 

 

 

 



 

As of December 31,



 

2020

 

2019

Deferred federal and state tax assets:

 

 

 

 

 

 

Net operating loss carryforwards

 

$

7,275 

 

 

6,714 

Book reserves for credit losses, inventory, real estate and property and equipment

 

 

1,324 

 

 

1,407 

Expensed recognized for books and deferred for tax

 

 

1,860 

 

 

3,439 

Investment in IT'SUGAR, LLC

 

 

3,510 

 

 

 —

Intangible assets

 

 

226 

 

 

 —

Other assets

 

 

835 

 

 

49 

Total gross federal and state deferred tax assets

 

 

15,030 

 

 

11,609 

Less deferred tax asset valuation allowance

 

 

(6,772)

 

 

(6,914)

Total deferred tax assets

 

 

8,258 

 

 

4,695 

Deferred federal and state tax liabilities:

 

 

 

 

 

 

Tax over book depreciation

 

 

(456)

 

 

(245)

Intangible assets

 

 

 —

 

 

(592)

Other liabilities

 

 

(378)

 

 

(578)

Total gross deferred federal and state tax liabilities

 

 

(834)

 

 

(1,415)

Net federal and state deferred tax assets

 

$

7,424 

 

 

3,280