Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2015
Income Tax Contingency [Line Items]  
Schedule of (Loss) Income before Income Taxes

The following table summarizes the components of the Company’s (loss) income before income taxes for the periods indicated:

 

 

 

For the Year Ended December 31,

 

 

 

2015

 

 

2014

 

 

2013

 

 

 

(in thousands)

 

United States

 

$

(459,507

)

 

$

50,953

 

 

$

35,234

 

Foreign

 

 

—

 

 

 

—

 

 

 

(1,934

)

Total income (loss) before income taxes

 

$

(459,507

)

 

$

50,953

 

 

$

33,300

 

 
Schedule of Components of Deferred Income Tax Expense (Benefit)

The Company did not report any current provision for income taxes for the years ended December 31, 2015, 2014 and 2013.

 

The Company’s deferred income tax expense (benefit) consists of the following for the periods presented:

 

 

 

For the Years Ended December 31,

 

 

 

2015

 

 

2014

 

 

2013

 

 

 

(in thousands)

 

Deferred:

 

 

 

 

 

 

 

 

 

 

 

 

Federal

 

$

—

 

 

$

—

 

 

$

(15,299

)

State

 

 

—

 

 

 

—

 

 

 

(743

)

Foreign

 

 

—

 

 

 

—

 

 

 

—

 

Income tax expense (benefit)

 

$

—

 

 

$

—

 

 

$

(16,042

)

 
Schedule of Effective Income Tax Rate Reconciliation

The following table provides a reconciliation of the Company’s effective tax rate from the U.S. 35% statutory rate for the periods indicated:

 

 

 

For the Years Ended December 31,

 

 

 

2015

 

 

2014

 

 

2013

 

 

 

(in thousands)

 

Expected income tax provision (benefit) at statutory rate

 

$

(160,827

)

 

$

17,833

 

 

$

11,655

 

State tax, tax effected

 

 

(7,799

)

 

 

803

 

 

 

96

 

Stock-based compensation expense (benefit)

 

 

255

 

 

 

(1,291

)

 

 

605

 

Tax effect of Canadian tax rate differences

 

 

—

 

 

 

—

 

 

 

193

 

Loss of Canadian tax attributes due to migration from

   Canada

 

 

—

 

 

 

—

 

 

 

19,825

 

Gain on acquisition of assets at fair value

 

 

—

 

 

 

—

 

 

 

(9,685

)

Non-deductible costs of migration from Canada to U.S.

 

 

—

 

 

 

—

 

 

 

95

 

Other

 

 

17

 

 

 

38

 

 

 

(49

)

Other changes in valuation allowance

 

 

168,354

 

 

 

(17,383

)

 

 

(38,777

)

Actual income tax provision

 

$

—

 

 

$

—

 

 

$

(16,042

)

 
US  
Income Tax Contingency [Line Items]  
Schedule of Deferred Tax Assets and Liabilities

The components of the Company’s U.S. deferred taxes are as follows:

 

 

 

As of December 31,

 

 

 

2015

 

 

2014

 

 

 

(in thousands)

 

Deferred tax asset (liability):

 

 

 

 

 

 

 

 

Capital assets

 

$

10,485

 

 

$

(134,223

)

Stock-based compensation

 

 

4,243

 

 

 

4,504

 

Net operating loss carry forwards

 

 

187,963

 

 

 

164,056

 

Foreign tax credit carry forwards

 

 

50,681

 

 

 

50,681

 

Valuation allowance

 

 

(253,372

)

 

 

(85,018

)

Net deferred tax asset

 

$

—

 

 

$

—