Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.7.0.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2016
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,
 
 
2016
 
2015
 
2014
Current:
 
 

 
 

 
 

Federal
 
$

 

 

State
 
3,008

 
2,304

 
3,526

 
 
3,008

 
2,304

 
3,526

Deferred:
 
 

 
 

 
 

Federal
 
4,000

 
3,895

 
3,292

State
 
140

 
91

 
(3,218
)
 
 
4,140

 
3,986

 
74

Total income tax expense
 
$
7,148

 
6,290

 
3,600

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,
 
 
2016
 
2015
 
2014
Computed expected tax benefit
 
$
(24,206
)
 
(23,155
)
 
(9,141
)
State and local income taxes, net of federal income taxes
 
2,047

 
1,556

 
200

Change in valuation allowance affecting tax expense
 
26,892

 
24,149

 
9,322

Expense (income) not resulting in tax impact
 
(1,585
)
 
(155
)
 
(73
)
Amortization of indefinite-lived assets
 
4,000

 
3,890

 
3,292

Other, net
 

 
5

 

Income tax expense
 
$
7,148

 
6,290

 
3,600

Schedule of Deferred Tax Assets and Liabilities
Components of deferred tax assets and liabilities as of December 31, 2016 and 2015 are as follows (amounts in thousands):
 
 
As of December 31,
 
 
2016
 
2015
Accrued receivable reserves
 
$
1,142

 
$
1,717

Accrued liabilities
 
9,197

 
8,626

Net operating loss carryforwards
 
204,478

 
166,183

Derivative financial instruments
 
3,283

 
4,994

Business credits
 
1,409

 
1,438

Other deferred tax assets
 
3,746

 
4,508

Valuation allowance
 
(96,003
)
 
(65,429
)
Total deferred tax assets
 
127,252

 
122,037

Intangible assets
 
(141,100
)
 
(133,248
)
Property, plant and equipment
 
(3,482
)
 
(1,980
)
Total deferred tax liabilities
 
(144,582
)
 
(135,228
)
Net deferred tax liabilities
 
$
(17,330
)
 
$
(13,191
)

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,
 
 
2016
 
2015
 
2014
As of the beginning of the year
 
$
193

 
191

 
247

Increases for tax positions of current years
 
15

 
2

 
4

Reductions for tax positions of prior years
 

 

 
(60
)
As of the end of the year
 
$
208

 
193

 
191