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Income Taxes (Tables)
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12 Months Ended |
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Dec. 31, 2014
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| Income Taxes |
|
| Schedule of income tax expense |
|
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Years ended December 31,
|
|
|
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2014
|
|
2013
|
|
2012
|
|
|
|
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amounts in thousands
|
|
|
Current:
|
|
|
|
|
|
|
|
|
|
Federal
|
|
$
|
510
|
|
(5,124)
|
|
(5,778)
|
|
|
State and local
|
|
|
473
|
|
(3,102)
|
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(1,213)
|
|
|
|
|
|
983
|
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(8,226)
|
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(6,991)
|
|
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Deferred:
|
|
|
|
|
|
|
|
|
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Federal
|
|
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62,014
|
|
26,735
|
|
(19,537)
|
|
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State and local
|
|
|
4,689
|
|
4,189
|
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(328)
|
|
|
|
|
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66,703
|
|
30,924
|
|
(19,865)
|
|
|
Income tax benefit (expense)
|
|
$
|
67,686
|
|
22,698
|
|
(26,856)
|
|
|
| Schedule of income tax expense reconciliation to the effective tax rate |
|
|
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Years ended December 31,
|
|
|
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2014
|
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2013
|
|
2012
|
|
|
|
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amounts in thousands
|
|
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Computed expected tax benefit (expense)
|
|
$
|
70,802
|
|
22,549
|
|
(24,766)
|
|
|
State and local taxes, net of federal income taxes
|
|
|
2,657
|
|
2,462
|
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(642)
|
|
|
Foreign taxes, net of foreign tax credit
|
|
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—
|
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(751)
|
|
751
|
|
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Change in valuation allowance
|
|
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(2,154)
|
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(986)
|
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(3,168)
|
|
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Dividends received deduction
|
|
|
819
|
|
1,506
|
|
973
|
|
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Change in tax rate
|
|
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(998)
|
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(1,756)
|
|
—
|
|
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Change in entity tax status
|
|
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—
|
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—
|
|
159
|
|
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Impairment of intangible assets not deductible for tax purposes
|
|
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(6,452)
|
|
—
|
|
—
|
|
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Loss on liquidation of subsidiary
|
|
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3,082
|
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—
|
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(3)
|
|
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Other
|
|
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(70)
|
|
(326)
|
|
(160)
|
|
|
Income tax (expense) benefit
|
|
$
|
67,686
|
|
22,698
|
|
(26,856)
|
|
|
| Schedule of deferred tax assets and liabilities |
|
|
|
|
|
|
|
|
|
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December 31,
|
|
|
|
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2014
|
|
2013
|
|
|
|
|
amounts in thousands
|
|
|
Deferred tax assets:
|
|
|
|
|
|
|
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Net operating loss carryforwards
|
|
$
|
20,201
|
|
7,946
|
|
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Accrued stock-based compensation
|
|
|
943
|
|
870
|
|
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Deferred revenue
|
|
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16,490
|
|
15,210
|
|
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Other
|
|
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6,759
|
|
12,540
|
|
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Total deferred tax assets
|
|
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44,393
|
|
36,566
|
|
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Less: valuation allowance
|
|
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(8,240)
|
|
(6,086)
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|
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Net deferred tax assets
|
|
|
36,153
|
|
30,480
|
|
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Deferred tax liabilities:
|
|
|
|
|
|
|
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Investments
|
|
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(1,252)
|
|
(36,980)
|
|
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Intangible assets
|
|
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(4,039)
|
|
—
|
|
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Other
|
|
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(40)
|
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(240)
|
|
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Total deferred tax liabilities
|
|
|
(5,331)
|
|
(37,220)
|
|
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Net deferred tax asset (liability)
|
|
$
|
30,822
|
|
(6,740)
|
|
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| Schedule of deferred taxes as reported in the balance sheet |
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December 31,
|
|
|
|
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2014
|
|
2013
|
|
|
|
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amounts in thousands
|
|
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Current deferred tax asset
|
|
$
|
11,282
|
|
17,598
|
|
|
Noncurrent deferred tax asset
|
|
|
19,540
|
|
—
|
|
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Noncurrent deferred tax liability
|
|
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—
|
|
(24,338)
|
|
|
|
|
$
|
30,822
|
|
(6,740)
|
|
|