Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Components of Income Tax Expense (Benefit) [Table Text Block]

The components of income tax (benefit) expense for the years ended December, 31 2015, 2014 and 2013 are as follows:



(in thousands)	2015			2014			2013
Current
Federal	$	(4,202	)	$	3,765		$	5,358
State	405			1,150			915
	(3,797		)	4,915			6,273
Deferred
Federal	(4,176		)	(69,281		)	—
State	(1,716		)	(1,211		)	—
	(5,892		)	(70,492		)	—
	$	(9,689	)	$	(65,577	)	$	6,273

Effective Income Tax Rate Reconciliation [Table Text Block]

A reconciliation of differences between the statutory U.S. federal income tax rate of 35% and the Company’s effective tax rate from continuing operations for the years ended December 31, 2015, 2014, and 2013 follows:



	2015		2014		2013
Federal statutory rate	35.0	%	35.0	%	35.0	%
State taxes, net of federal tax	1.7		4.1		4.4
Nondeductible capitalized transaction costs	(16.2	)	—		—
Nondeductible (permanent) items	(3.0	)	0.6		0.7
Changes in tax rates	(6.2	)	—		—
Changes related to IRC section 382 limitations	55.5		—		17.6
Other items	(0.1	)	(2.6	)	(1.6	)
Valuation allowance	—		(267.6	)	(33.6	)
Effective tax rate	66.7	%	(230.5	)%	22.5	%

Components of Deferred Tax Assets and Liabilities [Table Text Block]

Significant components of the Company’s deferred tax assets and liabilities are as follows at December 31, 2015 and 2014:



(in thousands)	2015			2014
Deferred tax assets related to:
Accounts receivable	$	3,780		$	753
Inventory	4,725			1,667
Goodwill and intangibles	—			22,932
Accrued compensation	5,462			1,555
Insurance deductible reserves	14,186			13,496
Stock-based compensation	2,759			1,240
Restructuring reserves	4,008			—
Other accrued liabilities	918			821
Federal net operating loss carryforward	32,361			30,480
State net operating loss carryforward	5,036			1,211
Other	283			404
	73,518			74,559
Valuation allowance	(126		)	—
Total deferred tax assets	73,392			74,559

Deferred tax liabilities related to:
Goodwill and intangibles	(32,452		)	(33		)
Property and equipment	(42,261		)	(2,941		)
Other assets	(1,700		)	(1,093		)
Total deferred tax liabilities	(76,413		)	(4,067		)
Net deferred tax (liability) asset	$	(3,021	)	$	70,492

Valuation Allowance Roll Forward [Table Text Block]

The following table shows the changes in the amount of the Company’s valuation allowance:



(in thousands)	2015		2014			2013
Balance at January 1,	$	—	$	75,248		$	84,629
Additions charged to expense	—		—			—
Additions charged to Goodwill/Purchase Accounting	126		—			—
Deductions - other	—		(75,248		)	(9,381		)
Balance at December 31,	$	126	$	—		$	75,248

Unrecognized Tax Benefits Roll Forward [Table Text Block]

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits (exclusive of the effect of interest and penalties) is as follows:



(in thousands)	2015		2014
Balance at January 1,	$	—	$	—
Tax positions taken in prior periods:
Gross increases	—		—
Gross decreases	—		—
Tax positions taken in current period:
Gross increases	3,224		—
Settlements with taxing authorities	—		—
Lapse of applicable statute of limitations	—		—
Balance at December 31,	$	3,224	$	—