Income Taxes (Tables)
|
12 Months Ended |
Dec. 31, 2015 |
|---|
| Income Tax Disclosure [Abstract] |
|
| Schedule of Components of Income Tax Expense (Benefit) |
Income tax (expense) benefit consists of the following (amounts in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
Years Ended December 31, |
|
2015 |
|
2014 |
|
2013 |
Deferred tax (expense) benefit: |
|
|
|
|
|
Federal taxes |
$ |
1,360 |
|
|
(9,081 |
) |
|
(9,267 |
) |
State taxes |
487 |
|
|
(948 |
) |
|
(1,690 |
) |
|
$ |
1,847 |
|
|
(10,029 |
) |
|
(10,957 |
) |
|
| Schedule of Effective Income Tax Rate Reconciliation |
Total income tax (expense) benefit differed from the “expected” income tax (expense) benefit determined by applying the statutory federal income tax rate of 35% as follows (amounts in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
Years Ended December 31, |
|
2015 |
|
2014 |
|
2013 |
“Expected” statutory tax (expense) benefit |
$ |
9,699 |
|
|
(24,246 |
) |
|
(14,939 |
) |
Nondeductible unrealized loss on derivative instrument with related party |
(4,566 |
) |
|
— |
|
|
— |
|
Nondeductible officer compensation |
(1,906 |
) |
|
(1,351 |
) |
|
(824 |
) |
Nondeductible entertainment expenses |
(1,059 |
) |
|
(1,125 |
) |
|
(1,045 |
) |
Nondeductible lobbying expenses |
(442 |
) |
|
(425 |
) |
|
(369 |
) |
State income taxes, net of federal (expense) benefit |
487 |
|
|
(948 |
) |
|
(1,690 |
) |
Impact of non-controlling interest attributable to non-tax paying entity |
220 |
|
|
18,255 |
|
|
7,977 |
|
Other, net |
(586 |
) |
|
(189 |
) |
|
(67 |
) |
|
$ |
1,847 |
|
|
(10,029 |
) |
|
(10,957 |
) |
|
| 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, 2015 and 2014 are summarized below (amounts in thousands):
|
|
|
|
|
|
|
|
|
2015 |
|
2014 |
Deferred tax assets: |
|
|
|
Net operating loss carryforwards |
$ |
139,238 |
|
|
131,938 |
|
Deferred revenue for financial reporting purposes |
41,151 |
|
|
36,077 |
|
Asset retirement obligations in excess of amounts recognized for tax purposes |
14,338 |
|
|
6,660 |
|
Compensated absences accrued for financial reporting purposes |
3,339 |
|
|
3,117 |
|
Share-based compensation expense for financial reporting purposes in excess of amounts recognized for tax purposes |
2,773 |
|
|
1,458 |
|
Accounts receivable, principally due to allowance for doubtful receivables |
1,912 |
|
|
2,585 |
|
Workers compensation and self-insurance health reserves, principally due to accrual for financial reporting purposes |
1,795 |
|
|
2,043 |
|
Alternative minimum tax credits |
1,735 |
|
|
1,735 |
|
Deferred compensation expense for tax purposes in excess of amounts recognized for financial reporting purposes |
1,603 |
|
|
1,374 |
|
Other |
13,144 |
|
|
5,866 |
|
Total deferred tax assets |
$ |
221,028 |
|
|
192,853 |
|
Deferred tax liabilities: |
|
|
|
Plant and equipment, principally due to differences in depreciation |
$ |
246,172 |
|
|
231,109 |
|
Intangible assets |
79,255 |
|
|
48,768 |
|
Flow-through entity deferred tax items |
— |
|
|
44,728 |
|
Other |
1,746 |
|
|
— |
|
Total deferred tax liabilities |
327,173 |
|
|
324,605 |
|
Net deferred tax liabilities |
$ |
106,145 |
|
|
131,752 |
|
|
| Summary of Operating Loss Carryforwards |
Our tax net operating loss carryforwards are summarized below by year of expiration (amounts in thousands):
|
|
|
|
|
|
|
|
Years ending December 31, |
Federal |
|
State |
2020 |
$ |
34,958 |
|
|
34,301 |
|
2021 |
29,614 |
|
|
28,987 |
|
2022 |
14,081 |
|
|
13,788 |
|
2023 |
3,968 |
|
|
3,903 |
|
2024 |
722 |
|
|
— |
|
2025 |
737 |
|
|
— |
|
2026 |
150 |
|
|
— |
|
2027 |
1,010 |
|
|
— |
|
2028 |
39,879 |
|
|
39,715 |
|
2029 |
48,370 |
|
|
47,558 |
|
2031 |
110,933 |
|
|
109,376 |
|
2033 |
5,031 |
|
|
4,927 |
|
2034 |
39,133 |
|
|
37,866 |
|
2035 |
11,885 |
|
|
11,290 |
|
Total tax net operating loss carryforwards |
$ |
340,471 |
|
|
331,711 |
|
|