Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.8.0.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2017
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
The Company's Income tax expense (benefit) is as follows (amounts in thousands):
 
Year Ended December 31,
 
2017
 
2016
 
2015
Current:
 

 
 

 
 

Federal
$
(426
)
 

 

State
2,559

 
3,008

 
2,304

 
2,133

 
3,008

 
2,304

Deferred:
 

 
 

 
 

Federal
(4,593
)
 
4,000

 
3,895

State
567

 
140

 
91

 
(4,026
)
 
4,140

 
3,986

Total Income tax expense (benefit)
$
(1,893
)
 
7,148

 
6,290

Schedule of Effective Income Tax Rate Reconciliation
Income tax expense (benefit) differs from the amounts computed by applying the U.S. federal income tax rate of 35% as a result of the following (amounts in thousands):
 
Year Ended December 31,
 
2017
 
2016
 
2015
Computed expected tax benefit
$
(39,616
)
 
(24,206
)
 
(23,155
)
State and local income taxes, net of federal income taxes
2,032

 
2,047

 
1,556

Change in valuation allowance affecting income tax expense
39,499

 
26,892

 
24,149

Expense (income) not resulting in tax impact
1,211

 
(1,585
)
 
(155
)
Tax amortization of indefinite-lived assets
4,001

 
4,000

 
3,890

2017 Federal tax reform enactment
(9,020
)
 

 

Other, net

 

 
5

Total Income tax expense (benefit)
$
(1,893
)
 
7,148

 
6,290

Schedule of Deferred Tax Assets and Liabilities
Components of deferred tax assets and liabilities as of December 31, 2017 and 2016 are as follows (amounts in thousands):
 
As of December 31,
 
2017
 
2016
Accounts receivable reserves
$
1,357

 
1,142

Accrued liabilities
10,639

 
9,197

Net operating loss carryforwards
153,683

 
204,478

Derivative financial instruments
1,705

 
3,283

Business credits
883

 
1,409

Other deferred tax assets
1,675

 
3,746

Valuation allowance
(86,281
)
 
(96,003
)
Total deferred tax assets
83,661

 
127,252

Intangible assets
(94,962
)
 
(141,100
)
Property, plant and equipment
(2,003
)
 
(3,482
)
Total deferred tax liabilities
(96,965
)
 
(144,582
)
Net deferred tax liabilities
$
(13,304
)
 
(17,330
)

Schedule of Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount of uncertain tax positions, which is recorded in other long term liabilities, is as follows (amounts in thousands):
 
Year Ended December 31,
 
2017
 
2016
 
2015
As of the beginning of the year
$
208

 
193

 
191

Increases for tax positions of current years

 
15

 
2

Reductions for tax positions of prior years
(4
)
 

 

As of the end of the year
$
204

 
208

 
193