Income Taxes (Tables)

9 Months Ended

Sep. 30, 2015

Income Taxes

Schedule of income tax rate reconciliation

A reconciliation of the provision for income tax and the amount computed by applying the federal statutory rate to income before provision for income tax for the nine months ended September 30, 2015 and 2014 is as follows (in thousands):

	Nine months ended September 30, 2015
	Corporation			Partnership			Eliminations			Consolidated
Loss before provision for income tax	$	(28,878	)	$	(16,064	)	$	(71	)	$	(45,013	)
Federal statutory rate	35		%	0		%	0		%
Federal income tax at statutory rate	(10,107		)	—			—			(10,107		)
Permanent items	23			—			—			23
Change in state statutory rate	—			(1,517		)	—			(1,517		)
State income taxes net of federal benefit	(864		)	(549		)	—			(1,413		)
Provision on income from Class A units (1)	(334		)	—			—			(334		)
Provision for income tax	$	(11,282	)	$	(2,066	)	$	—		$	(13,348	)

	Nine months ended September 30, 2014
	Corporation			Partnership			Eliminations			Consolidated
Income before provision for income tax	$	25,973		$	110,156		$	(481	)	$	135,648
Federal statutory rate	35		%	0		%	0		%
Federal income tax at statutory rate	9,091			—			—			9,091
Permanent items	32			—			—			32
State income taxes net of federal benefit	652			1,037			—			1,689
Federal and state tax rate change	4,250			—			—			4,250
Provision on income from Class A units (1)	5,574			—			—			5,574
Provision for income tax	$	19,599		$	1,037		$	—		$	20,636

(1) The Corporation and the General Partner of the Partnership own Class A units of the Partnership that were received in the merger of the Corporation and the Partnership completed in February 2008. The Class A units share, on a pro-rata basis, in the income or loss of the Partnership, except for items attributable to the Partnership’s ownership of or sale of shares of the Corporation’s common stock. The provision for income tax on income from Class A units includes intra period allocations to continued operations and excludes allocations to equity.