Income Taxes (Tables)
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12 Months Ended |
Dec. 31, 2016 |
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| Income Tax Disclosure [Abstract] |
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| Schedule of Components of Income Tax Expense |
The source of pre-tax income and the components of income tax expense at December 31, 2016, 2015 and 2014, respectively, are as follows: | | | | | | | | | | | | | | (in thousands) | | 2016 | | 2015 | | 2014 | Income Components | | | | | | | United States | | $ | 37,276 |
| | $ | 33,274 |
| | 36,377 |
| Foreign | | (89 | ) | | 157 |
| | 514 |
| Total pre-tax income from continuing operations | | $ | 37,187 |
| | $ | 33,431 |
| | $ | 36,891 |
| Income tax expense components | | | | | | | Current income tax provision | | | | | | | United States-Federal | | $ | 15,106 |
| | $ | 10,549 |
| | $ | 2,385 |
| United States-State and local | | 311 |
| | 401 |
| | 29 |
| Foreign | | 371 |
| | 910 |
| | 382 |
| Total current income tax provision | | 15,788 |
| | 11,860 |
| | 2,796 |
| Deferred income tax provision (benefit) | | | | | | | United States-Federal | | (1,733 | ) | | (9,350 | ) | | 10,385 |
| United States-State and local | | (278 | ) | | (42 | ) | | 898 |
| Foreign | | (245 | ) | | (10 | ) | | — |
| Total deferred income tax provision (benefit) | | (2,256 | ) | | (9,402 | ) | | 11,283 |
| Total income tax expense | | $ | 13,532 |
| | $ | 2,458 |
| | $ | 14,079 |
| Effective income tax rate | | 36.4 | % | | 7.4 | % | | 38.2 | % |
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| Schedule of Effective Income Tax Rate Reconciliation |
A reconciliation of the income tax provision at the U.S. statutory rate to the effective income tax rate as reported is as follows: | | | | | | | | | | | | | 2016 | | 2015 | | 2014 | Tax provision at U.S. statutory rate | | 35.0 | % | | 35.0 | % | | 35.0 | % | State and local income tax, net of Federal benefit | | 0.1 | % | | 0.7 | % | | 1.6 | % | Release of uncertain tax positions | | — | % | | (29.9 | )% | | — | % | Indemnity expense | | — | % | | 3.3 | % | | — | % | Other | | 1.3 | % | | (1.7 | )% | | 1.6 | % | Effective income tax rate | | 36.4 | % | | 7.4 | % | | 38.2 | % |
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| Schedule of Deferred Tax Assets and Liabilities |
Deferred tax assets and liabilities include the following: | | | | | | | | | | (in thousands) |
| 2016 |
| 2015 | Deferred Tax Assets |
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|
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| Costs incurred in excess of billings |
| $ | 506 |
| | $ | 2,477 |
| Compensation and benefits |
| 10,816 |
| | 11,353 |
| Reserves |
| 2,660 |
| | 2,371 |
| Other |
| 3,116 |
| | 3,332 |
| Net Operating Losses | | 168 |
| | 106 |
| Subtotal | | $ | 17,266 |
| | $ | 19,639 |
| Valuation allowance | | (157 | ) | | (96 | ) | Total deferred tax assets | | $ | 17,109 |
| | $ | 19,543 |
| Deferred Tax Liabilities |
| | | | Goodwill |
| $ | (77,171 | ) | | $ | (77,306 | ) | Property, plant and equipment, net |
| (769 | ) | | (1,165 | ) | Unbilled receivables |
| (27,431 | ) | | (31,218 | ) | Other liabilities | | (1,178 | ) | | (1,187 | ) | Total deferred tax liabilities |
| $ | (106,549 | ) | | $ | (110,876 | ) | | | | | |
Deferred taxes are classified in the Consolidated Balance Sheets as follows: | | | | | | | | | | (in thousands) |
| 2016 |
| 2015 | Non-current assets | | $ | 227 |
| | $ | 10 |
| Non-current liabilities |
| 89,667 |
| | 91,343 |
| Net deferred tax liabilities |
| $ | 89,440 |
| | $ | 91,333 |
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| Schedule of Unrecognized Tax Benefits |
A reconciliation of the beginning and ending amount of unrecognized tax benefits as of December 31, 2016, 2015 and 2014 is as follows: | | | | | | | | | | | | | | (in thousands) |
| 2016 |
| 2015 |
| 2014 | Unrecognized tax benefits-January 1, |
| $ | — |
| | $ | 7,604 |
| | $ | 8,541 |
| Additions for: |
| | | | | | Current year tax positions |
| 429 |
| | — |
| | — |
| Prior year tax positions | | — |
| | — |
| | 6,954 |
| Reductions for: |
| | | | | | Prior year tax positions |
| — |
| | (7,604 | ) | | (7,891 | ) | Unrecognized tax benefits-December 31, |
| $ | 429 |
| | $ | — |
| | $ | 7,604 |
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