INCOME TAXES

9 Months Ended

Sep. 30, 2015

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

The Company’s Federal and state income tax expense from continuing operations for the three months and nine months ended September 30, 2015 and 2014 is summarized in the following table (in thousands):

	Three Months Ended   September 30,					Nine Months Ended   September 30,
	2015			2014		2015			2014
Current
Federal	$	—		$	—	$	—		$	—
State	19			70		50			266
Total current	19			70		50			266
Deferred
Federal	(3,803		)	1,653		(19,290		)	7,297
State	(767		)	207		(3,304		)	921
Total deferred	(4,570		)	1,860		(22,594		)	8,218
Total income tax expense (benefit)	$	(4,551	)	$	1,930	$	(22,544	)	$	8,484

The tax benefit recognized for the three months and nine months ended September 30, 2015 is a result of the decrease in deferred tax liability related to goodwill which decreased due to the goodwill impairment charge.

The Company’s reconciliation of the statutory rate from continuing operations to the effective income tax rate for the three months and nine months ended September 30, 2015 and 2014 is summarized as follows (in thousands):

	Three Months Ended   September 30,						Nine Months Ended   September 30,
	2015			2014			2015			2014
Tax benefit at statutory rate	$	(11,275	)	$	(12,464	)	$	(108,143	)	$	(25,508	)
State tax expense (benefit), net of Federal taxes	(446		)	43			(435		)	168
Change in tax contingencies	1			2			3			5
Valuation allowance changes affecting income tax expense	4,715			14,295			42,501			33,651
Impairment of goodwill	2,385			—			43,362			—
Non-deductible transaction costs and other	69			54			168			168
Income tax expense (benefit)	$	(4,551	)	$	1,930		$	(22,544	)	$	8,484