Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Taxes

Schedule of components of the income tax expense (benefit)

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

	For the Year Ended
	December 31,
	2015		2014		2013
Current
Federal	$	—	$	—	$	—
State and local		(601)		(941)		(835)
		(601)		(941)		(835)
Deferred
Federal		1,726		6,081		8,346
State and local		232		770		1,271
		1,958		6,851		9,617
Total income tax provision	$	1,357	$	5,910	$	8,782

Schedule of reconciliation of income tax expense

The income tax provision 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,
	2015		2014		2013
Income tax at federal rate	$	835	$	4,763	$	6,552
Increase (decrease) resulting from:
State income taxes, net of federal income tax		104		592		814
Permanent difference for compensation limitation		637		595		575
Expense reflected in tax basis		98		415		—
Tax credit included in taxable income		252		327		320
Other permanent differences		110		47		931
Capital goods excise tax credit		(601)		(942)		(836)
Other, net		54		51		6
Change in valuation allowance		(132)		62		420
Total income tax provision	$	1,357	$	5,910	$	8,782

Schedule of deferred income taxes

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

	December 31,
	2015		2014
Deferred tax liabilities:
Property and equipment	$	46,636	$	46,618
Other basis differences		542		577
		47,178		47,195
Deferred tax assets:
Net operating loss and credit carryforwards		55,043		43,497
Intangible assets		41,678		52,022
Expenses deferred for tax		5,638		6,138
Employee benefits		31,423		30,029
Other basis differences		3,642		4,457
		137,424		136,143
Valuation allowance		(350)		(482)
		137,074		135,661
Deferred tax asset, net	$	89,896	$	88,466

Summary of activity for the valuation allowance

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

			Charge (Credit)
			to Income Tax
	Beginning		Expense or		Ending
	Balance		Equity		Balance
January 1 to December 31, 2015	$	482	$	(132)	$	350
January 1 to December 31, 2014		420		62		482
January 1 to December 31, 2013		—		420		420