Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Income tax expense (benefit)

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

	For the Years Ended December 31,
(in thousands)	2017			2016			2015
Federal:
Current	$	2,200		$	(12	)	$	49
Deferred	15,310			(3,248		)	95,259
Total Federal	17,510			(3,260		)	95,308
State:
Current	(995		)	(2,118		)	(3,099		)
Deferred (included in Federal above)	—			—			—
Total State	(995		)	(2,118		)	(3,099		)
Total	$	16,515		$	(5,378	)	$	92,209

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

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

	For the Years Ended December 31,
(in thousands)	2017			2016			2015
Tax benefit at U.S. statutory rate	$	205,777		$	139,657		$	192,390
Impact of the Tax Act	114,716			—			—
State taxes, net of federal income tax	24,891			11,788			18,323
Tax credits	1,908			6,163			3,937
Valuation allowance	(246,037		)	(142,862		)	(111,797		)
Goodwill impairment	(78,515		)	(10,789		)	(7,856		)
Stock compensation	(4,093		)	(5,716		)	—
Other, net	(851		)	(1,831		)	(1,626		)
Meals and entertainment	(726		)	(868		)	(1,090		)
Return to provision	(555		)	(920		)	(72		)
Total	$	16,515		$	(5,378	)	$	92,209

Components of deferred tax assets and liabilities

Significant components of the Company's deferred tax assets and liabilities are as follows:

	As of December 31,
(in thousands)	2017			2016
Deferred income tax assets:
Capital and financing lease obligations	$	264,255		$	862,038
Operating loss carryforwards	288,469			319,948
Accrued expenses	66,123			109,283
Deferred lease liability	52,869			93,358
Tax credits	49,556			49,550
Intangible assets	14,493			20,272
Deferred gain on sale leaseback	1,844			4,233
Prepaid revenue	1,825			2,626
Investment in unconsolidated ventures	2,861			—
Other	660			—
Total gross deferred income tax asset	742,955			1,461,308
Valuation allowance	(336,087		)	(264,305		)
Net deferred income tax assets	406,868			1,197,003
Deferred income tax liabilities:
Property, plant and equipment	(477,512		)	(1,209,595		)
Investment in unconsolidated ventures	—			(66,678		)
Other	—			(1,376		)
Total gross deferred income tax liability	(477,512		)	(1,277,649		)
Net deferred tax liability	$	(70,644	)	$	(80,646	)

Schedule of impact from Tax Cuts and Jobs Act

A summary of the effect of the Tax Act is as follows:

	For the Year Ended
(in thousands)	December 31, 2017
Rate change - decrease in net deferred tax assets	$	108,070
Rate change - decrease in valuation allowance	(172,235		)
Impact on net operating loss usage	(50,551		)
Reduction of deferred tax asset - AMT credits	2,361
Total impact of the Tax Act on the Company's deferred taxes position	(112,355		)
Realization of AMT credits	(2,361		)
Net impact of the Tax Act on the Company's effect tax rate	$	(114,716	)

Summary of valuation allowance

A summary of the change in the Company's valuation allowance is as follows:

	For the Year Ended
(in thousands)	December 31, 2017
Increase in valuation allowance before consideration of the Tax Act	$	246,037
Increase due to the adoption of ASU 2016-09	48,531
Total increase in valuation allowance	294,568
Tax Act rate change - decrease in valuation allowance	(172,235		)
Impact on net operating loss usage	(50,551		)
Total decrease in valuation allowance due to Tax Act	(222,786		)
Total increase in valuation allowance	$	71,782

Reconciliation of the unrecognized tax benefits

A reconciliation of the unrecognized tax benefits is as follows:

	For the Years Ended December 31,
(in thousands)	2017			2016
Balance at January 1,	$	29,160		$	30,236
Additions for tax positions related to the current year	184			—
Additions for tax positions related to prior years	—			30
Reductions for the Impact of the Tax Act	(10,859		)	—
Reductions for tax positions related to prior years	(24		)	(1,106		)
Balance at December 31,	$	18,461		$	29,160