|
INCOME TAXES (Tables)
|
12 Months Ended |
|
Dec. 31, 2014
|
| Income Tax Disclosure [Abstract] |
|
| Schedule of Income from Continuing Operations Before Income Tax Expense |
The Income from continuing operations before income tax expense is as follows:
|
|
|
YEAR-ENDED |
|
|
YEAR-ENDED |
|
|
YEAR-ENDED |
|
|
|
|
DECEMBER 31, |
|
|
DECEMBER 31, |
|
|
DECEMBER 31, |
|
|
|
|
2014 |
|
|
2013 |
|
|
2012 |
|
|
Income from continuing operations before income tax expense |
|
$ |
175,943 |
|
|
$ |
76,248 |
|
|
$ |
87,778 |
|
|
| Schedule of Provision for Income Taxes |
The significant components of the provision for income taxes related to continuing operations are as follows:
|
|
|
YEAR-ENDED |
|
|
YEAR-ENDED |
|
|
YEAR-ENDED |
|
|
|
|
DECEMBER 31, |
|
|
DECEMBER 31, |
|
|
DECEMBER 31, |
|
|
|
|
2014 |
|
|
2013 |
|
|
2012 |
|
|
Current: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal |
|
$ |
(6 |
) |
|
$ |
200 |
|
|
$ |
— |
|
|
State and local |
|
|
846 |
|
|
|
610 |
|
|
|
416 |
|
|
Total current expense |
|
|
840 |
|
|
|
810 |
|
|
|
416 |
|
|
Deferred: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal |
|
|
6,916 |
|
|
|
9,217 |
|
|
|
6,533 |
|
|
State and local |
|
|
1,683 |
|
|
|
2,293 |
|
|
|
1,569 |
|
|
Total deferred expense |
|
|
8,599 |
|
|
|
11,510 |
|
|
|
8,102 |
|
|
Total income tax expense related to continuing operations |
|
$ |
9,439 |
|
|
$ |
12,320 |
|
|
$ |
8,518 |
|
|
| Schedule of Reconciliation of Differences between Federal Income Tax at Statutory Rates and Actual Income Tax Expense on Income from Continuing Operations |
A reconciliation of differences between the federal income tax at statutory rates and our actual income tax expense on income from continuing operations, which include federal, state and other income taxes, is as follows:
|
|
|
YEAR-ENDED |
|
|
YEAR-ENDED |
|
|
YEAR-ENDED |
|
|
|
|
DECEMBER 31, |
|
|
DECEMBER 31, |
|
|
DECEMBER 31, |
|
|
|
|
2014 |
|
|
2013 |
|
|
2012 |
|
|
Tax expense at statutory rate |
|
|
35.0 |
% |
|
|
35.0 |
% |
|
|
35.0 |
% |
|
Increase (decrease) in tax rate resulting from: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal income tax assumed by noncontrolling interests |
|
|
(24.9 |
) |
|
|
(48.6 |
) |
|
|
(37.6 |
) |
|
Change in valuation allowance |
|
|
(6.6 |
) |
|
|
27.4 |
|
|
|
12.2 |
|
|
State income taxes, net of federal tax benefit |
|
|
1.8 |
|
|
|
(1.5 |
) |
|
|
(0.1 |
) |
|
Non-deductible stock issuance costs |
|
|
— |
|
|
|
3.7 |
|
|
|
— |
|
|
Other, net |
|
|
0.1 |
|
|
|
0.2 |
|
|
|
0.2 |
|
|
Income tax expense |
|
|
5.4 |
% |
|
|
16.2 |
% |
|
|
9.7 |
% |
|
| Significant Components of Deferred Tax Assets and Liabilities |
The significant components of the Company’s deferred tax assets and liabilities are as follows:
|
|
|
AS OF DECEMBER 31, |
|
|
|
|
2014 |
|
|
2013 |
|
|
Current |
|
|
|
|
|
|
|
|
|
Deferred income tax assets: |
|
|
|
|
|
|
|
|
|
Allowance for doubtful accounts |
|
$ |
2,208 |
|
|
$ |
2,760 |
|
|
Accrued liabilities |
|
|
9,154 |
|
|
|
11,148 |
|
|
Valuation allowance |
|
|
(10,444 |
) |
|
|
(12,824 |
) |
|
Deferred income tax liabilities: |
|
|
|
|
|
|
|
|
|
Prepaid expenses |
|
|
(1,773 |
) |
|
|
(1,561 |
) |
|
Net current deferred income tax liability |
|
|
(855 |
) |
|
|
(477 |
) |
|
Non-current |
|
|
|
|
|
|
|
|
|
Deferred income tax assets: |
|
|
|
|
|
|
|
|
|
Net operating loss |
|
|
106,504 |
|
|
|
112,795 |
|
|
Capital loss |
|
|
33,524 |
|
|
|
30,604 |
|
|
Investment in nonconsolidated affiliates |
|
|
18,645 |
|
|
|
16,554 |
|
|
Interest rate swaps |
|
|
849 |
|
|
|
1,254 |
|
|
Other |
|
|
5,201 |
|
|
|
6,843 |
|
|
Valuation allowance |
|
|
(153,084 |
) |
|
|
(153,321 |
) |
|
Deferred income tax liabilities: |
|
|
|
|
|
|
|
|
|
Goodwill and other indefinite-lived intangibles |
|
|
(131,020 |
) |
|
|
(116,698 |
) |
|
Property, net |
|
|
(6,241 |
) |
|
|
(7,391 |
) |
|
Intangible assets |
|
|
(4,543 |
) |
|
|
(6,861 |
) |
|
Net non-current deferred income tax liability |
|
|
(130,165 |
) |
|
|
(116,221 |
) |
|
Total deferred income tax liability |
|
$ |
(131,020 |
) |
|
$ |
(116,698 |
) |
|