|
Income Taxes (Tables)
|
12 Months Ended |
|
Dec. 31, 2014
|
| Income Tax Disclosure [Abstract] |
|
| Schedule of Components of Income Tax Expense (Benefit) |
Income tax expense consists of the following (amounts in thousands):
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Years Ended December 31, |
|
2014 |
|
2013 |
|
2012 |
Deferred tax expense: |
|
|
|
|
|
Federal taxes |
$ |
9,081 |
|
|
9,267 |
|
|
10,318 |
|
State taxes |
948 |
|
|
1,690 |
|
|
1,770 |
|
|
$ |
10,029 |
|
|
10,957 |
|
|
12,088 |
|
|
| Schedule of Effective Income Tax Rate Reconciliation |
Total income tax expense differed from the “expected” income tax expense determined by applying the statutory federal income tax rate of 35% as follows (amounts in thousands):
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Years Ended December 31, |
|
2014 |
|
2013 |
|
2012 |
“Expected” statutory tax expense |
$ |
24,246 |
|
|
14,939 |
|
|
7,437 |
|
Impact of non-controlling interest attributable to non-tax paying entity |
(18,255 |
) |
|
(7,977 |
) |
|
— |
|
State income taxes, net of federal expense |
948 |
|
|
1,690 |
|
|
1,770 |
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Income tax effect of nondeductible entertainment expenses |
1,125 |
|
|
1,045 |
|
|
777 |
|
Income tax effect of nondeductible lobbying expenses |
425 |
|
|
369 |
|
|
298 |
|
Income tax effect of nondeductible officer compensation |
1,351 |
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|
824 |
|
|
1,718 |
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Other, net |
189 |
|
|
67 |
|
|
88 |
|
|
$ |
10,029 |
|
|
10,957 |
|
|
12,088 |
|
|
| Schedule of Deferred Tax Assets and Liabilities |
The tax effects of temporary differences that give rise to significant portions of deferred tax assets and liabilities at December 31, 2014 and 2013 are summarized below (amounts in thousands):
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|
|
|
|
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2014 |
|
2013 |
Current deferred tax assets, net of current deferred tax liability: |
|
|
|
Net operating loss carryforwards |
$ |
44,250 |
|
|
30,344 |
|
Compensated absences, accrued for financial reporting purposes |
3,117 |
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|
2,956 |
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Workers compensation and self-insurance health reserves, principally due to accrual for financial reporting purposes |
2,043 |
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|
1,688 |
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Accounts receivable, principally due to allowance for doubtful receivables |
2,585 |
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|
1,154 |
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Deferred revenue for financial reporting purposes |
2,525 |
|
|
2,673 |
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Other |
1,600 |
|
|
938 |
|
Total current deferred tax assets |
$ |
56,120 |
|
|
39,753 |
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Long-term deferred tax assets: |
|
|
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Net operating loss carryforwards |
$ |
87,688 |
|
|
90,589 |
|
Deferred revenue for financial reporting purposes |
33,552 |
|
|
35,506 |
|
Alternative minimum tax credits |
1,735 |
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|
1,895 |
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Deferred compensation expense for tax purposes in excess of amounts recognized for financial reporting purposes |
1,374 |
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|
2,556 |
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Asset retirement obligations in excess of amounts recognized for tax purposes |
6,660 |
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|
4,930 |
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Share-based compensation expense for financial reporting purposes in excess of amounts recognized for tax purposes |
1,458 |
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|
1,860 |
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Other |
4,266 |
|
|
4,335 |
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Total long-term deferred tax assets |
136,733 |
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|
141,671 |
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Long-term deferred tax liabilities: |
|
|
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Plant and equipment, principally due to differences in depreciation |
231,109 |
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|
212,719 |
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Intangible assets |
48,768 |
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|
49,761 |
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Flow-through entity deferred tax items |
44,728 |
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|
40,667 |
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Total long-term deferred tax liabilities |
324,605 |
|
|
303,147 |
|
Net long-term deferred tax liabilities |
$ |
187,872 |
|
|
161,476 |
|
|
| Summary of Operating Loss Carryforwards |
Our tax net operating loss carryforwards are summarized below by year of expiration (amounts in thousands):
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Years ending December 31, |
Federal |
|
State |
2020 |
$ |
34,958 |
|
|
34,301 |
|
2021 |
29,614 |
|
|
28,987 |
|
2022 |
14,081 |
|
|
13,788 |
|
2023 |
3,968 |
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|
3,903 |
|
2024 |
722 |
|
|
— |
|
2025 |
737 |
|
|
— |
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2026 |
150 |
|
|
— |
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2027 |
1,010 |
|
|
— |
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2028 |
39,879 |
|
|
39,715 |
|
2029 |
48,370 |
|
|
47,558 |
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2031 |
110,933 |
|
|
109,376 |
|
2033 |
5,031 |
|
|
4,927 |
|
2034 |
30,797 |
|
|
29,946 |
|
Total tax net operating loss carryforwards |
$ |
320,250 |
|
|
312,501 |
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