INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of components of the income tax provision (benefit)

The components of the income tax benefit are as follows (in thousands):



	Year Ended December 31,
	2015			2014			2013
Current income tax expense (benefit):
Federal	$	5,847		$	(371	)	$	(425	)
State	1,149			(219		)	(92		)
Current income tax expense (benefit)	6,996			(590		)	(517		)
Deferred income tax (benefit) provision:
Federal	(19,676		)	63			63
State	(10,293		)	43			1
Deferred income tax (benefit) provision	(29,969		)	106			64
Income tax benefit	$	(22,973	)	$	(484	)	$	(453	)

Schedule of reconciliation of total income tax provision to amounts computed by applying statutory federal income tax rate to income (loss) from continuing operations before income taxes

A reconciliation of the income tax benefit to the amounts computed by applying the statutory federal income tax rate to income (loss) from continuing operations before income taxes is shown as follows (in thousands):



	Year Ended December 31,
	2015			2014			2013
Income tax expense (benefit) at the federal statutory rate of 35%	$	9,920		$	(340	)	$	(394	)
State income taxes, net of effect of federal tax benefit	1,480			(143		)	(60		)
Non-deductible non-cash compensation expense	351			—			—
Release of valuation allowance	(34,409		)	—			—
Other, net	(315		)	(1		)	1
Income tax benefit	$	(22,973	)	$	(484	)	$	(453	)

Schedule of components of the deferred tax assets and deferred tax liabilities

The tax effects of cumulative temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows (in thousands):



	December 31,
	2015			2014
Deferred tax assets:
Provision for accrued expenses	$	7,247		$	7,265
Net operating loss carryforwards ^(a)	15,036			23,370
Non-cash compensation expense	4,321			3,010
Goodwill	1,825			1,825
Other	1,544			1,296
Total gross deferred tax assets	29,973			36,766
Less: valuation allowance ^(b)	(2,341		)	(40,121		)
Total deferred tax assets, net of the valuation allowance	27,632			(3,355		)
Deferred tax liabilities:
Intangible and other assets	(2,060		)	(1,258		)
Other	(453		)	(237		)
Total gross deferred tax liabilities	(2,513		)	(1,495		)
Net deferred taxes	$	25,119		$	(4,850	)

(a)

At December 31, 2015, the Company had pre-tax consolidated federal net operating losses ("NOLs") of $32.2 million. The federal NOLs will expire between 2030 and 2034. The Company's NOLs will be available to offset taxable income (until such NOLs are either used or expire) subject to the Internal Revenue Code Section 382 annual limitation. The amount of tax deductions in excess of previously recorded windfall tax benefits associated with non-cash compensation included in federal net operating loss carryforwards but not reflected in deferred tax assets for the year ended December 31, 2015 was $8.2 million. Upon realization of the federal net operating losses, the Company will recognize a windfall tax benefit as an increase to additional paid-in capital. In addition, the Company has state NOLs of approximately $287.3 million at December 31, 2015 that will expire at various times between 2015 and 2034.


(b)	The valuation allowance is related to items for which it is "more likely than not" that the tax benefit will not be realized.

Deferred income taxes are presented in the accompanying consolidated balance sheets as follows (in thousands):



	December 31,
	2015		2014
Deferred income tax assets	$	20,977	$	—
Non-current assets of discontinued operations	4,142		—
Accrued expenses and other current liabilities	—		(112		)
Deferred income tax liabilities	—		(4,738		)
Net deferred taxes	$	25,119	$	(4,850	)

Valuation Allowance [Line Items]

Schedule of the deferred tax valuation allowance reconciliation



	Year Ended December 31,
	2015			2014			2013
Balance, beginning of the period	$	40,121		$	49,674		$	54,961
Charges to earnings ^(a)	(37,780		)	(3,707		)	(5,287		)
Out of period adjustment ^(b)	—			(5,846		)	—
Balance, end of the period	$	2,341		$	40,121		$	49,674

Schedule of reconciliation of beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties

A reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties, is as follows (in thousands):



	Year Ended December 31,
	2015			2014
Balance, beginning of the period	$	23		$	36
Additions based on tax positions of prior years	—			—
Lapse of statute of limitations	(4		)	(13		)
Balance, end of the period	$	19		$	23