INCOME TAXES (Tables)

3 Months Ended

Mar. 31, 2014

Income Tax Disclosure [Abstract]

Components of income tax

The Company’s Federal and state income tax expense (benefit) from continuing operations for the three months ended March 31, 2014 and 2013 is summarized in the following table (in thousands):

	Three Months Ended March 31,
	2014		2013
Current
Federal	$	—	$	(702	)
State	783		25
Total current	783		(677		)
Deferred
Federal	2,396		396
State	312		57
Total deferred	2,708		453
Total income tax expense (benefit)	$	3,491	$	(224	)

Schedule of Effective Income Tax Rate Reconciliation

The Company’s reconciliation of the statutory rate from continuing operations to the effective income tax rate for the three months ended March 31, 2014 and 2013 is summarized as follows (in thousands):

	Three Months Ended March 31,
	2014			2013
Tax benefit at statutory rate	$	(7,670	)	$	(3,033	)
State tax expense (benefit), net of Federal taxes	509			(135		)
Change in tax contingencies	—			(512		)
Valuation allowance changes affecting income tax expense	10,601			3,071
Non-deductible transaction costs and other	51			385
Income tax expense (benefit)	$	3,491		$	(224	)