Quarterly report pursuant to Section 13 or 15(d)

Income Taxes (Tables)

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Income Taxes (Tables)
 6 Months Ended
Jun. 30, 2018
Income Tax Disclosure [Abstract]  
Components of Provision for Income Taxes and Income before Provision for Income Taxes

The provision for income taxes differs from the amount computed by applying the U.S. federal statutory rate to income before provision for income taxes and consisted of the following (in thousands):

 

     Three Months Ended June 30,  
     2018     2017  
     Amount     Rate     Amount      Rate  

Income tax expense at the federal statutory rate

    $ 6,368       21.0 %    $ 8,967        35.0 % 

State income tax expense, net of federal benefit

      1,415       4.7 %      973        3.8 % 

Effect of foreign operations

      (12 )      0.0 %      25        0.1 % 

Windfall tax benefits, net related to stock-based compensation

      (28 )      (0.1 )%      —          —    

Change in valuation allowance

      74       0.2 %      62        0.2 % 

Permanent items and other

      338       1.1 %      25        0.1 % 
  

 

 

    

 

 

    

 

 

     

 

 

  
   $ 8,155       26.9 %    $ 10,052        39.2 % 
  

 

 

    

 

 

    

 

 

     

 

 

  

 

     Six Months Ended June 30,  
     2018     2017  
     Amount     Rate     Amount     Rate  

Income tax expense at the federal statutory rate

    $ 11,474       21.0 %    $ 15,793       35.0 % 

State income tax expense, net of federal benefit

      2,511       4.6 %      1,741       3.9 % 

Effect of foreign operations

      (20 )      0.0 %      47       0.1 % 

Windfall tax benefits, net related to stock-based compensation

      (245 )      (0.5 )%      (156 )      (0.4 )% 

Change in valuation allowance

      121       0.2 %      116       0.3 % 

Permanent items and other

      616       1.1 %      13       —    
  

 

 

    

 

 

    

 

 

    

 

 

  
   $ 14,457       26.4 %    $ 17,554       38.9 %