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 |
|
|