Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Income tax expense (benefit)

Income tax expense consists of:

	Years Ended December 31,
	2014			2013		2012
	(in thousands)
Current:
Federal	$	(10,569	)	$	9,379	$	1,217
State and local	3,100			3,134		3,551
Foreign	174			353		137
Total current	(7,295		)	12,866		4,905
Deferred
Federal	63,577			33,842		32,458
State and local	8,804			5,725		4,643
Foreign	(12		)	7		16
Total deferred	72,369			39,574		37,117
Total income tax expense	$	65,074		$	52,440	$	42,022

Summary of Federal statutory income tax rate attributable to earnings (loss) from operations

The reconciliation of income taxes computed at the United States federal statutory tax rate to income tax expense is: 

	Years Ended December 31,
	2014		2013			2012
	(in thousands)
Computed income tax expense	$	57,612	$	48,768		$	37,046
State and local tax expense	6,709		5,544			4,351
Excludable loss from foreign joint venture	—		—			366
Non-deductible items	523		(626		)	127
Adjustments for uncertain tax positions	206		(166		)	(14		)
Other, net	24		(1,080		)	146
Total income tax expense	$	65,074	$	52,440		$	42,022

Summary of deferred tax assets and liabilities

The tax effects of temporary differences that have given rise to deferred tax assets and liabilities are presented below: 

	December 31,
	2014			2013
	(in thousands)
Current deferred tax assets
Provisions not currently deductible	$	7,234		$	8,962
Tax credits and deferred revenues	246			74
Net operating loss —state	208			24
Total current deferred tax asset	7,688			9,060
Non-current deferred tax assets
Provisions not currently deductible	392			308
Stock based compensation	136			270
Net operating loss carryforwards—federal and state	—			189
Net capital loss carryforwards—federal and state	1,859			1,988
Pensions and post retirement	3,095			1,603
Total non-current deferred tax asset	5,482			4,358
Total deferred tax asset	$	13,170		$	13,418
Non-current deferred tax liabilities
Investment in joint ventures/partnerships	$	(2,269	)	$	(2,294	)
Property, plant and equipment	(171,562		)	(101,276		)
Total deferred tax liability	$	(173,831	)	$	(103,570	)

The net deferred tax asset (liability) is classified in the consolidated balance sheets as follows: 

	December 31,
	2014			2013
	(in thousands)
Current deferred tax assets	$	7,688		$	9,060
Non-current deferred tax assets	5,482			4,358
Non-current deferred tax liability	(173,831		)	(103,570		)
Non-current deferred tax liability, net	(168,349		)	(99,212		)
Current deferred tax asset	7,688			9,060
Non-current deferred tax liability, net	(168,349		)	(99,212		)
Net deferred tax liability	$	(160,661	)	$	(90,152	)

Summary of changes in the balance of unrecognized tax benefits

The aggregate changes in the balance of unrecognized tax benefits were as follows: 

	Years Ended December 31,
	2014		2013			2012
	(in thousands)
Beginning balance	$	1,142	$	1,744		$	1,813
Increases in tax positions for prior years	91		53			34
Increases in tax positions for current year	189		103			611
Settlements	—		(716		)	(704		)
Expirations of statutes	—		(42		)	(10		)
Ending balance	$	1,422	$	1,142		$	1,744