Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

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,
(Dollars in thousands)	2016		2015			2014
Income before income tax expense (benefit)	$	22,971	$	26,298		$	27,327
Current:
Federal tax	$	669	$	432		$	753
State tax	1,294		622			1,087
Foreign tax	103		16			2
Total current	2,066		1,070			1,842
Deferred:
Federal tax	6,811		(55,716		)	6,046
State tax	41		1,020			(1,249		)
Foreign tax	74		(322		)	(57		)
Total deferred	6,926		(55,018		)	4,740
Total income tax expense (benefit)	$	8,992	$	(53,948	)	$	6,582

Schedule of Effective Income Tax Rate Reconciliation

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



Effective tax rate reconciliation	2016				2015					2014
(Dollars in thousands)
Income before income tax expense	$	22,971			$	26,298				$	27,327
Federal income tax expense at the Federal statutory rate	$	8,040	35.0	%	$	9,204		35.0	%	$	9,564		35.0	%
State income taxes, net of Federal benefit	867		3.8	%	1,021			3.9	%	1,188			4.3	%
Change in valuation allowance	—		—	%	(64,159		)	(244.0	)%	(5,087		)	(18.6	)%
Other, including permanent differences	85		0.4	%	(14		)	(0.1	)%	917			3.4	%
Income tax expense (benefit)	$	8,992	39.1	%	$	(53,948	)	(205.1	)%	$	6,582		24.1	%

Schedule of Net Deferred Income Tax Assets

The net deferred income tax assets at December 31, 2016 and 2015 were as follows:



	December 31,
(Dollars in thousands)	2016		2015
Long-term:
Net deferred income tax asset	$	73,068	$	130,025
Valuation allowance	—		(50,031		)
Total deferred income tax assets	$	73,068	$	79,994

Schedule of Deferred Income Tax Assets

The components of deferred income tax assets at December 31, 2016 and 2015 were as follows:



	December 31,
(Dollars in thousands)	2016			2015
Net operating losses and tax credits	$	48,146		$	111,538
Property and equipment	12,995			12,628
Accruals and accrued loss contingencies	6,723			5,410
Intangible Assets	5,886			760
Gross deferred income tax assets	73,750			130,336
Deferred income tax liabilities:
Prepaid expenses	(360		)	(311		)
Other	(322		)	—
Gross deferred income tax liabilities	(682		)	(311		)
Net deferred income tax assets	$	73,068		$	130,025
Valuation allowance	—			(50,031		)
Total deferred income tax assets	$	73,068		$	79,994