INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of components of the income tax provision (benefit)

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



	Year Ended December 31,
	2016		2015			2014
Current income tax expense (benefit):
Federal	$	11,519	$	5,847		$	(371	)
State	2,480		1,149			(219		)
Current income tax expense (benefit)	13,999		6,996			(590		)
Deferred income tax (benefit) provision:
Federal	3,703		(19,676		)	63
State	2,664		(10,293		)	43
Deferred income tax (benefit) provision	6,367		(29,969		)	106
Income tax expense (benefit)	$	20,366	$	(22,973	)	$	(484	)

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 expense (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,
	2016			2015			2014
Income tax expense (benefit) at the federal statutory rate of 35%	$	18,051		$	9,920		$	(340	)
State income taxes, net of effect of federal tax benefit	4,038			1,480			(143		)
Change in (release of) valuation allowance	(416		)	(34,409		)	—
Research and experimentation tax credit	(2,574		)	—			—
Other, net	1,267			36			(1		)
Income tax expense (benefit)	$	20,366		$	(22,973	)	$	(484	)

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,
	2016			2015
Deferred tax assets:
Provision for accrued expenses	$	8,056		$	7,247
Net operating loss carryforwards ^(a)	8,548			15,036
Non-cash compensation expense	5,699			4,321
Goodwill	1,825			1,825
Other	139			1,544
Total gross deferred tax assets	24,267			29,973
Less: valuation allowance ^(b)	(2,101		)	(2,341		)
Total deferred tax assets, net of the valuation allowance	22,166			27,632
Deferred tax liabilities:
Intangible and other assets	(2,704		)	(2,060		)
Other	(1,071		)	(453		)
Total gross deferred tax liabilities	(3,775		)	(2,513		)
Net deferred taxes	$	18,391		$	25,119

(a)

At December 31, 2016, the Company had pre-tax consolidated federal net operating losses ("NOLs") of $10.9 million. The federal NOLs will expire in 2030. 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. In addition, the Company has state NOLs of approximately $221.0 million at December 31, 2016 that will expire at various times between 2017 and 2037.


(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,
	2016		2015
Deferred income tax assets	$	14,610	$	20,977
Non-current assets of discontinued operations	3,781		4,142
Net deferred taxes	$	18,391	$	25,119

Valuation Allowance [Line Items]

Schedule of the deferred tax valuation allowance reconciliation



	Year Ended December 31,
	2016			2015			2014
Balance, beginning of the period	$	2,341		$	40,121		$	49,674
Charges to earnings ^(a)	(240		)	(37,780		)	(3,707		)
Out of period adjustment ^(b)	—			—			(5,846		)
Balance, end of the period	$	2,101		$	2,341		$	40,121

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,
	2016			2015
Balance, beginning of the period	$	19		$	23
Additions based on tax positions of the current year	550			—
Lapse of statute of limitations	(19		)	(4		)
Balance, end of the period	$	550		$	19