Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Taxes

Schedule of income tax benefit (expense)


		Years ended December 31,
		2025			2024		2023

		amounts in thousands
Current:
Federal		$	(1,255)		(4,182)		(3,689)
State			(42)		(124)		(14)
Foreign			(312)		(309)		(305)
			(1,609)		(4,615)		(4,008)
Deferred:
Federal			3,400		6,147		7,887
State			(960)		3,141		(15)
Foreign			—		—		—
			2,440		9,288		7,872
Income tax benefit (expense)		$	831		4,673		3,864

Schedule of income tax reconciliation


		Years ended December 31,
		2025				2024			2023

		amounts in thousands
			Amount	Percentage		Amount	Percentage		Amount	Percentage
Computed expected U.S. federal statutory tax benefit (expense)		$	5,064	21.0	%	7,548	21.0	%	27,123	21.0	%
State tax benefit (expense), net of federal benefit (expense)⁽¹⁾			(993)	(4.1)		2,383	6.6		(23)	—
Foreign Tax Effects			(247)	(1.0)		(244)	(0.7)		(241)	(0.2)
Tax Credits			189	0.8		(235)	(0.7)		(259)	(0.2)
Nontaxable or Nondeductible Items
Intergroup interest			—	—		—	—		(17,467)	(13.5)
Executive compensation			(6,497)	(26.9)		(4,610)	(12.8)		(1,966)	(1.5)
Nondeductible transaction costs			—	—		—	—		(2,507)	(1.9)
Stock-based compensation			2,221	9.2		778	2.2		561	0.4
Meals and entertainment			(1,336)	(5.5)		(1,112)	(3.1)		(1,066)	(0.8)
Other			(75)	(0.3)		165	0.5		(291)	(0.2)
Other adjustments
Accrued compensation - personnel expenses			1,818	7.5		—	—		—	—
Accrued compensation - pension			838	3.5		—	—		—	—
Intangible assets			290	1.2
Other			(441)	(1.8)		—	—		—	—
Income tax benefit (expense)		$	831	3.4	%	4,673	13.0	%	3,864	3.0	%

(1)

State taxes in Georgia made up the majority (greater than 50 percent) of the tax effect in this category.

Schedule of tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities


		December 31,
		2025			2024

		amounts in thousands
Deferred tax assets:
Finance lease obligation		$	25,061		26,741
Interest, tax loss, and credit carryforwards			18,267		22,153
Stock-based compensation			1,783		1,821
Capitalized R&D			88		2,647
Deferred revenue			1,301		—
Other			9,874		5,782
Total deferred tax assets			56,374		59,144
Valuation allowance			(699)		—
Deferred tax assets, net of valuation allowance			55,675		59,144
Deferred tax liabilities:
Property and equipment, net			42,091		45,641
Intangible assets			38,387		33,153
Investments			11,765		8,081
Contract assets			—		10,797
Accrued compensation			3,230		3,678
Other			1,484		1,310
Total deferred tax liabilities			96,957		102,660
Net deferred tax liabilities		$	(41,282)		(43,516)