Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.3.1.900
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2015
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
Components of pretax income (loss) from continuing operations are as follows(amounts in thousands):
 
 
Year Ended December 31,
 
 
2015
 
2014
 
2013
Current:
 
 

 
 

 
 

Federal
 
$

 

 

State
 
2,304

 
3,526

 
2,827

 
 
2,304

 
3,526

 
2,827

Deferred:
 
 

 
 

 
 

Federal
 
3,895

 
3,292

 
(3,343
)
State
 
91

 
(3,218
)
 
3,597

 
 
3,986

 
74

 
254

Total income tax expense
 
$
6,290

 
3,600

 
3,081

Schedule of Effective Income Tax Rate Reconciliation
Income tax expense differs from the amounts computed by applying the United States federal income tax rate of 35% as a result of the following (amounts in thousands):
 
 
Year Ended December 31,
 
 
2015
 
2014
 
2013
Computed expected tax benefit
 
$
(23,155
)
 
(9,141
)
 
(4,762
)
State and local income taxes, net of federal income taxes
 
1,556

 
200

 
4,176

Change in valuation allowance affecting tax expense
 
24,149

 
9,322

 
1,760

Expense (income) not resulting in tax impact
 
(155
)
 
(73
)
 
426

Amortization of indefinite-lived assets
 
3,890

 
3,292

 
1,481

Other, net
 
5

 

 

Income tax expense
 
$
6,290

 
3,600

 
3,081

Schedule of Deferred Tax Assets and Liabilities
Components of deferred tax assets and liabilities as of December 31, 2015 and 2014 are as follows (amounts in thousands):
 
 
As of December 31,
 
 
2015
 
2014
Accrued receivable reserves
 
$
1,717

 
$
1,130

Accrued liabilities
 
8,626

 
7,293

Net operating loss carryforwards
 
165,740

 
134,485

Derivative financial instruments
 
4,994

 
1,682

Business credits
 
1,438

 
1,466

Other deferred tax assets
 
4,508

 
3,579

Valuation allowance
 
(64,986
)
 
(32,782
)
Total deferred tax assets
 
122,037

 
116,853

Intangible assets
 
(133,248
)
 
(123,068
)
Property, plant and equipment
 
(1,980
)
 
(2,989
)
Other deferred tax liabilities
 

 

Total deferred tax liabilities
 
(135,228
)
 
(126,057
)
Net deferred tax liabilities
 
$
(13,191
)
 
$
(9,204
)
Schedule of Unrecognized Tax Benefits Roll Forward
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,
 
 
2015
 
2014
 
2013
As of the beginning of the year
 
$
191

 
247

 
247

Increases for tax positions of current years
 
2

 
4

 

Reductions for tax positions of prior years
 

 
(60
)
 

As of the end of the year
 
$
193

 
191

 
247