INCOME TAXES

Income (loss) before income taxes consisted of the following (in thousands):



	Year Ended December 31,
	2015			2014			2013
Income (loss) before income taxes
United States	$	(72,556	)	$	(148,683	)	$	(197,976	)
Foreign	78,608			87,217			52,723
Total income (loss) before income taxes	$	6,052		$	(61,466	)	$	(145,253	)

The income tax benefit consisted of the following (in thousands):



	Year Ended December 31,
	2015			2014			2013
Current income tax expense:
Federal	$	23,724		$	9,443		$	2,769
State	1,201			2,456			1,040
Foreign	2,191			382			2,623
Total	27,116			12,281			6,432
Deferred income tax (benefit):
Federal	(49,765		)	(54,314		)	(68,549		)
State	(2,195		)	(3,747		)	(3,381		)
Foreign	1,478			3,042			(55		)
Total	(50,482		)	(55,019		)	(71,985		)
Income tax benefit	$	(23,366	)	$	(42,738	)	$	(65,553	)

Total income tax benefit differed from the amounts computed by applying the U.S. federal income tax rate of 35% to income before income tax expense as a result of the following (in thousands):



	Year Ended December 31,
	2015			2014			2013
Computed expected tax expense (benefit)	$	2,118		$	(21,513	)	$	(50,839	)
State income taxes, net of federal tax benefit	(945		)	(1,799		)	(2,141		)
Foreign taxes at rates other than 35%	(19,925		)	(19,834		)	(6,464		)
Shareholder appraisal litigation related to the Transaction	—			3,655			442
Domestic Manufacturing Deduction	(2,035		)	—			—
Research and development tax credits	(3,215		)	(2,384		)	(6,671		)
Other	636			(863		)	120
Income tax benefit	$	(23,366	)	$	(42,738	)	$	(65,553	)

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of the assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities were as follows (in thousands):



	December 31, 2015			December 31, 2014
Deferred tax assets:
Deferred compensation	$	4,191		$	3,550
Net operating loss carryforwards — U.S.	4,805			5,769
Net operating loss carryforwards — Foreign	813			914
Tax credits	7,101			9,127
Deferred revenue differences	336			—
Interest limitation	23,320			21,602
Other accruals and reserves	3,366			2,497
Valuation allowance	(2,449		)	(2,023		)
Total gross deferred tax assets	41,483			41,436
Deferred tax liabilities:
Intangible assets	(90,552		)	(129,750		)
Content in process	(4,315		)	(8,635		)
Depreciation differences	(3,187		)	(4,432		)
Deferred financing costs	(3,132		)	(8,803		)
Total gross deferred tax liabilities	(101,186		)	(151,620		)
Net deferred tax liability	$	(59,703	)	$	(110,184	)

At December 31, 2015, the Company had $4.8 million in tax-effected federal and state net operating loss carryforwards that, if unused, begin expiring in 2019. Although a portion of these carryforwards are subject to the provisions of Internal Revenue Code Section 382, the Company does not believe these limitations will prevent the Company from fully utilizing these carryforwards. Additionally, the Company had $1.7 million in tax-effected foreign net operating loss carryforwards, which included $0.9 million of carryforwards related to excess tax benefits for stock-based compensation. These operating loss carryforwards, if unused, begin expiring in 2016. Finally, at December 31, 2015, the Company had $7.1 million in income tax credits, consisting primarily of federal and state research and development tax credits. These tax credits, if unused, begin expiring in 2018.

In assessing whether deferred tax assets would be realized, the Company considered whether it is more likely than not that some portion or all of the deferred tax assets would not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. The Company considered the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible, the Company believes it is more likely than not that it will realize the benefits of these deductible differences, net of the existing valuation allowance, as of December 31, 2015.

A reconciliation of the beginning and ending amounts of gross unrecognized tax benefits is as follows (in thousands):



	Year Ended December 31,
	2015			2014			2013
Gross unrecognized tax benefits at beginning of period	$	16,138		$	8,671		$	4,500
Decreases related to lapse of statute of limitations	(909		)	(1,443		)	(1,235		)
Decreases related to effective settlements with taxing authorities	(243		)	—			—
Increases related to tax positions taken in prior years	—			1,346			3,521
Increases related to tax positions taken in current year	6,810			7,564			1,885
Balance at end of period	$	21,796		$	16,138		$	8,671

If recognized, the unrecognized tax benefit would reduce the Company’s effective tax rate. The Company’s policy is to recognize interest and penalties related to unrecognized tax benefits as income tax expense. Accrued interest and penalties related to unrecognized tax benefits was immaterial as of December 31, 2015 and 2014 and for the years ended 2015, 2014 and 2013. The Company has taken positions in certain taxing jurisdictions for which it is reasonably possible that the total amounts of unrecognized tax benefit may decrease within the next twelve months. The possible decrease could result from the expiration of various federal and state statutes of limitation, and relate primarily to various credits claimed in prior year tax returns. The estimated range of possible decreases in the unrecognized tax benefits in the next twelve months is $1.0 million to $1.5 million.

As of December 31, 2015 and 2014, the Company had a $4.6 million and $0.5 million income tax receivable, respectively, recorded within Other current assets on the Consolidated Balance Sheets. The Company files income tax returns primarily in the United States, Ireland and several foreign jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal, state and local or foreign income tax examinations by tax authorities for years prior to 2011.