Note 12 - Income Taxes Level 3 (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The components of the provision for income tax expense for the years ended December 31 are as follows (in millions):



	2014			2013			2012
Federal:
Current	$	—		$	—		$	—
Deferred	29.6			30.9			13.6
Total Federal	29.6			30.9			13.6
State:
Current	(1.4		)	4.1			—
Deferred	(2.5		)	(9.8		)	6.1
Total State	(3.9		)	(5.7		)	6.1

Valuation allowance	(4.8		)	8.8			0.1
Expense for uncertain tax positions	—			(1.0		)	—
Income tax expense	$	20.9		$	33.0		$	19.8

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

A reconciliation of income tax expense at the applicable federal statutory income tax rate to the tax provision as reported for the years ended December 31 are as follows (in millions):



	2014			2013			2012
Federal income tax expense at statutory rate	$	29.8		$	28.4		$	17.9
State income tax expense, net of federal benefit	2.6			2.7			1.6
Valuation allowance	(4.8		)	8.8			0.1
Adjustment to deferred tax liabilities	(3.1		)	(8.8		)	(5.5		)
Change in State tax rate	(4.2		)	—			4.3
Permanent tax adjustments	2.0			1.7			1.2
Other	(1.4		)	0.2			0.2
Income tax expense	$	20.9		$	33.0		$	19.8

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The components of deferred tax assets and liabilities as of December 31 are as follows (in millions):



	2014			2013
DEFERRED TAX ASSETS:
Current:
Nondeductible accruals and deferred revenue	24.6			24.2
Total	24.6			24.2
Valuation allowance	(8.2		)	(8.5		)

Total current deferred tax assets	$	16.4		$	15.7

Noncurrent:
Nondeductible accruals and deferred revenue	$	27.5		$	21.1
Federal and state net operating loss carryforwards, net of liability for uncertain tax positions	453.2			443.4
AMT credits	6.1			6.1
Prepaid rent	8.5			8.6
Deferred credits and other non-current liabilities	5.7			17.4
Other	22.8			23.2
Total	523.8			519.8
Valuation allowance	(174.7		)	(182.8		)

Total noncurrent deferred tax assets	349.1			337.0

DEFERRED TAX LIABILITIES:
Noncurrent:
Other intangible assets	(3.4		)	(3.4		)
Maintenance deposits	(20.2		)	(14.0		)
Accelerated depreciation and fixed asset basis differences for tax purposes	(609.5		)	(580.0		)

Total noncurrent deferred tax liabilities	(633.1		)	(597.4		)
Total net noncurrent deferred tax liabilities	$	(284.0	)	$	(260.4	)

Summary of Income Tax Contingencies [Table Text Block]

The Company monitors ongoing tax cases related to its unrecognized tax benefits. The unrecognized tax benefits, which if recognized, would impact the effective tax rate. The Company does not anticipate that total unrecognized tax benefits would significantly change within the next 12 months. The following table reconciles the Company’s tax liability for uncertain tax positions for the year ended December 31 (in millions):



	2014		2013			2012
Balance at January 1,	$	7.1	$	8.1		$	8.1
Additions for tax positions taken in prior years	—		—			—
Reductions for tax positions of prior years	—		(1.0		)	—
Balance at December 31,	$	7.1	$	7.1		$	8.1

Summary of Valuation Allowance [Table Text Block]

The following table reconciles the Company’s valuation allowance for the year ended December 31 (in millions):



	2014			2013		2012
Balance at January 1,	$	191.3		$	182.5	$	182.5
Reduction for net operating losses previously reserved that were utilized or expired	(3.6		)	—		(0.1		)
Additions (deductions) for current year change in estimate	(4.8		)	8.8		0.1
Balance at December 31,	$	182.9		$	191.3	$	182.5

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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