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):
|
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|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|