Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

The (provision) benefit for income taxes is comprised of the following (dollars in thousands):

	For the Years Ended December 31,
	2012			2011			2010
Federal:
Current	$	193		$	631		$	626
Deferred		(178	)		(943	)		33,235
Total Federal		15			(312	)		33,861
State:
Current		(2,059	)		(2,028	)		(2,429	)
Deferred (included in Federal above)		―			―			―
Total State		(2,059	)		(2,028	)		(2,429	)
Total	$	(2,044	)	$	(2,340	)	$	31,432

Reconciliation of the benefit for income taxes to the amount computed at the U.S. Federal statutory rate

A reconciliation of the (provision) benefit for income taxes to the amount computed at the U.S. Federal statutory rate of 35% is as follows (dollars in thousands):

	For the Years Ended December 31,
	2012			2011			2010
Tax benefit at U.S. statutory rate	$	22,474		$	23,042		$	28,117
State taxes, net of federal income tax		1,204			1,316			1,634
Unrecognized tax benefits		193			630			626
Other, net		122			59			(124	)
Credits		—			4,803			3,354
Valuation allowance		(24,138	)		(30,489	)		(137	)
Officer's compensation		(922	)		(760	)		(2,197	)
Meals and entertainment		(486	)		(430	)		(383	)
Gain on acquisition		(266	)		791			—
Return to provision		(225	)		(1,302	)		679
Stock compensation		—			—			(137	)
Total	$	(2,044	)	$	(2,340	)	$	31,432

Components of deferred tax assets and liabilities

Significant components of the Company's deferred tax assets and liabilities at December 31 are as follows (dollars in thousands):

	2012			2011
Deferred income tax assets:
Operating loss carryforwards	$	169,792		$	174,433
Capital lease obligations		52,720			62,136
Prepaid revenue		51,722			48,587
Accrued expenses		50,602			40,422
Deferred lease liability		46,541			48,916
Tax credits		20,551			20,158
Deferred gain on sale leaseback		10,127			11,581
Fair value of interest rate swaps		522			152
Total gross deferred income tax asset		402,577			406,385
Valuation allowance		(65,269	)		(40,820	)
Net deferred income tax assets		337,308			365,565
Deferred income tax liabilities:
Property, plant and equipment		(415,354	)		(454,985	)
Other		(8,428	)		(11,540	)
Total gross deferred income tax liability		(423,782	)		(466,525	)
Net deferred tax liability	$	(86,474	)	$	(100,960	)

Reconciliation of net deferred tax liability to the consolidated balance sheets

A reconciliation of the net deferred tax liability to the consolidated balance sheets at December 31 is as follows (dollars in thousands):

	2012			2011
Deferred tax asset – current	$	13,377		$	11,776
Deferred tax liability – noncurrent		(99,851	)		(112,736	)
Net deferred tax liability	$	(86,474	)	$	(100,960	)

Reconciliation of the unrecognized tax benefits

A reconciliation of the unrecognized tax benefits for the year 2012 is as follows (dollars in thousands):

Balance at January 1, 2012	$	1,439
Additions for tax positions related to the current year		48
Additions for tax positions related to prior years		201
Reductions for tax positions related to prior years		(443	)
Balance at December 31, 2012	$	1,245