Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Taxes

Schedule of components of the income tax expense (benefit)

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

	For the Year Ended December 31,
	2014			2013			2012
Current
Federal	$	—		$	—		$	—
State and local		(941	)		(835	)		(535	)
		(941	)		(835	)		(535	)
Deferred
Federal		6,081			8,346			(78,978	)
State and local		770			1,271			(11,849	)
		6,851			9,617			(90,827	)
Total income tax expense (benefit)	$	5,910		$	8,782		$	(91,362	)

Schedule of reconciliation of income tax provision (benefit)

        The income tax expense (benefit) differs from the amounts determined by applying the statutory federal income tax rate of 34% to the income before income taxes for the following reasons (dollars in thousands):

	For the Year Ended December 31,
	2014			2013			2012
Income tax at federal rate	$	4,763		$	6,552		$	6,331
Increase (decrease) resulting from:
State income taxes, net of federal income tax benefit		592			814			774
Permanent difference for compensation limitation		595			575			271
Expense reflected in tax basis		415			—			—
Tax credit included in taxable income		327			320			204
Other permanent differences		47			931			26
Capital goods excise tax credit		(942	)		(836	)		(535	)
Other, net		51			6			—
Change in valuation allowance		62			420			(98,433	)
Total income tax expense (benefit)	$	5,910		$	8,782		$	(91,362	)

Schedule of deferred income taxes

        Deferred income taxes consisted of the following (dollars in thousands):

	December 31,
	2014			2013
Deferred tax liabilities:
Property and equipment	$	46,618		$	37,319
Other basis differences		577			582
		47,195			37,901
Deferred tax assets:
Net operating loss and credit carryforwards		43,497			25,730
Intangible assets		52,022			62,626
Expenses deferred for tax		6,138			7,278
Employee benefits		30,029			21,654
Other basis differences		4,457			4,453
		136,143			121,741
Valuation allowance		(482	)		(420	)
		135,661			121,321
Deferred tax asset, net	$	88,466		$	83,420

Summary of activity for the valuation allowance

The following is a summary of activity for the valuation allowance (dollars in thousands):

	Beginning Balance		Charge (Credit) to Income Tax Expense or Equity			Ending Balance
January 1 to December 31, 2014	$	420	$	62		$	482
January 1 to December 31, 2013		—		420			420
January 1 to December 31, 2012		120,336		(120,336	)		—