Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Taxes

Schedule of tax jurisdictions and the tax effects of temporary differences on their respective net deferred tax assets and liabilities

The following table presents each of these tax jurisdictions and the tax effects of temporary differences on their respective net deferred tax assets and liabilities (in thousands):

	December 31,
	2016		2015
U.S.
Deferred tax asset, net
Reserves and accruals	$	6,103	$	11,659
Domestic intangible assets		24,450		17,734
Investment securities and loans		(2,355)		(2,416)
Investment in unconsolidated entities		948		(362)
Deferred income		292		423
Net operating and capital loss carryforwards		804		2,967
Valuation allowance		—		(2,967)
Other U.S. temporary differences		356		343
		30,598		27,381
Europe
Deferred tax liability, net
European servicing rights		—		(583)
Net operating and capital loss carryforwards		5,533		7,606
Valuation allowance		(5,533)		(7,606)
Other European temporary differences		—		(346)
		—		(929)
Net deferred tax assets	$	30,598	$	26,452

Schedule of Valuation Allowance

The changes in the valuation allowance associated with our deferred tax assets are as follows for the years ended December 31, 2016 and 2015 (amounts in thousands):

	2016		2015		2014
January 1 balance	$	10,573	$	11,200	$	11,750
Additions (releases) to income tax provision		(2,966)		445		1,315
Provision to return adjustments to deferred tax amounts		—		23		(822)
Foreign currency adjustments reflected in OCI		(417)		(770)		(1,086)
Release due to European servicing and advisory business divestiture		(1,585)		—		—
Other		(72)		(325)		43
December 31 balance	$	5,533	$	10,573	$	11,200