Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The Company's provision (benefit) for income taxes for PHL consists of the following (in thousands):

	For the year ended December 31,
	2012		2011		2010
Federal
Current	$	1,048	$	374	$	—
Deferred	—		70		(70		)
State and local
Current	412		110		—
Deferred	—		10		(10		)
Income tax expense (benefit)	$	1,460	$	564	$	(80	)

Schedule of Effective Income Tax Rate Reconciliation

	For the year ended December 31,
	2012		2011		2010
Statutory federal tax expense (benefit)	$	1,048	$	444	$	(70	)
State income tax expense (benefit)	412		120		(10		)
Income tax expense (benefit)	$	1,460	$	564	$	(80	)