Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Components of Income Tax Expense (Benefit) Attributable to Current Operations

The significant components of our income tax (benefit) expense attributable to current operations for the periods stated were as follows:



	For the Year Ended December 31,
	2015			2014			2013
	(Dollars in thousands)
Income before income tax expense	$	26,298		$	27,327		$	45,339
Current:
Federal tax	$	432		$	753		$	575
State tax	622			1,087			958
Foreign tax	16			2			—
	1,070			1,842			1,533
Deferred:
Federal tax	(55,716		)	6,046			16,790
State tax	(2,969		)	(1,249		)	(355		)
Foreign tax	(322		)	(57		)	(159		)
	(59,007		)	4,740			16,276
Total income tax (benefit) / expense	$	(57,937	)	$	6,582		$	17,809

Schedule of Difference Between United States Federal Statutory Rate and Effective Tax Rate

The following table summarizes the principal elements of the difference between the United States Federal statutory rate of 35% and our effective tax rate:



	For the Year Ended December 31,
	2015		2014		2013
Federal income tax at statutory rate	35.0	%	35.0	%	35.0	%
Increase (decrease) in taxes resulting from:
State income taxes, net of Federal tax benefit	3.9	%	4.4	%	3.8	%
Nondeductible compensation expense	—	%	—	%	1.8	%
True-up and rate changes	0.3	%	0.9	%	(2.6	)%
Change in valuation allowance	(260.2	)%	(18.6	)%	1.2	%
Other	0.7	%	2.4	%	0.1	%
Effective tax rate	(220.3	)%	24.1	%	39.3	%

Schedule of Net Deferred Income Tax Assets

The net deferred income tax assets at December 31, 2015 and 2014 were as follows:



	December 31,
	2015			2014
	(Dollars in thousands)
Long-term:
Net deferred income tax asset	$	129,760		$	138,333
Valuation allowance	(45,777		)	(114,190		)
Total deferred income tax assets	$	83,983		$	24,143

Schedule of Deferred Income Tax Assets

The deferred income tax assets at December 31, 2015 and 2014 were as follows:



	December 31,
	2015			2014
	(Dollars in thousands)
Net operating losses and tax credits	$	111,538		$	118,203
Property and equipment	12,302			12,077
Accruals and accrued loss contingencies	5,410			9,484
Intangible Assets	821			—
Gross deferred income tax assets	130,071			139,764
Deferred income tax liabilities:
Prepaid expenses	(311		)	(951		)
Other	—			(408		)
Intangible assets	—			(72		)
Gross deferred income tax liabilities	(311		)	(1,431		)
Net deferred income tax assets	$	129,760		$	138,333
Valuation allowance	(45,777		)	(114,190		)
Total deferred income tax assets	$	83,983		$	24,143