Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

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)	2018			2017			2016
Federal:
Current	$	(113	)	$	2,200		$	(12	)
Deferred	52,367			15,310			(3,248		)
Total Federal	52,254			17,510			(3,260		)
State:
Current	(2,798		)	(995		)	(2,118		)
Deferred (included in Federal above)	—			—			—
Total State	(2,798		)	(995		)	(2,118		)
Total	$	49,456		$	16,515		$	(5,378	)

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 21% for the year ended December 31, 2018 and 35% for the years ended December 31, 2017 and 2016, respectively, is as follows:

	For the Years Ended December 31,
(in thousands)	2018			2017			2016
Tax benefit at U.S. statutory rate	$	121,320		$	205,777		$	139,657
State taxes, net of federal income tax	21,576			24,891			11,788
Valuation allowance	5,713			(246,037		)	(142,862		)
Tax credits	688			1,908			6,163
Goodwill impairment	(88,265		)	(78,515		)	(10,789		)
Impact of the Tax Act	(6,042		)	114,716			—
Stock compensation	(4,717		)	(4,093		)	(5,716		)
Meals and entertainment	(493		)	(726		)	(868		)
Other, net	(324		)	(1,406		)	(2,751		)
Total	$	49,456		$	16,515		$	(5,378	)

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)	2018			2017
Deferred income tax assets:
Capital and financing lease obligations	$	165,703		$	264,255
Operating loss carryforwards	298,255			288,469
Deferred lease liability	63,263			52,869
Accrued expenses	61,309			66,123
Tax credits	50,462			49,556
Capital loss carryforward	41,413			—
Intangible assets	10,133			14,493
Other	2,872			7,190
Total gross deferred income tax asset	693,410			742,955
Valuation allowance	(336,417		)	(336,087		)
Net deferred income tax assets	356,993			406,868
Deferred income tax liabilities:
Property, plant and equipment	(334,145		)	(477,512		)
Investment in unconsolidated ventures	(41,219		)	—
Total gross deferred income tax liability	(375,364		)	(477,512		)
Net deferred tax liability	$	(18,371	)	$	(70,644	)

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 Years Ended December 31,
(in thousands)	2018			2017
Increase (decrease) in valuation allowance before consideration of the Tax Act	$	(5,713	)	$	246,037
Increase (decrease) due to the adoption of ASU 2016-09	—			48,531
Total increase (decrease) in valuation allowance	(5,713		)	294,568
Tax Act rate change - decrease in valuation allowance	—			(172,235		)
Impact on net operating loss usage	6,042			(50,551		)
Total increase (decrease) in valuation allowance due to Tax Act	6,042			(222,786		)
Total increase (decrease) in valuation allowance	$	329		$	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)	2018			2017
Balance at January 1,	$	18,461		$	29,160
Additions for tax positions related to the current year	80			184
Reductions for the Impact of the Tax Act	—			(10,859		)
Reductions for tax positions related to prior years	(34		)	(24		)
Balance at December 31,	$	18,507		$	18,461