INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2013

INCOME TAXES

Schedule of component of income tax provision reflected in the consolidated statements of operations

(In thousands)	12 Months Ended December 31, 2013			From Inception August 31, 2012 through December 31, 2012		March 30, 2012 through August 30, 2012		52 Weeks Ended March 29, 2012
	(Successor)			(Successor)		(Predecessor)		(Predecessor)
Current:
Federal	$	—		$	—	$	—	$	—
Foreign		—			—		—		—
State		4,045			480		3,700		2,015
Total current		4,045			480		3,700		2,015
Deferred:
Federal		(229,778	)		3,020		—		—
Foreign		—			—		—		—
State		(36,820	)		—		—		—
Total deferred		(266,598	)		3,020		—		—
Total provision (benefit)		(262,553	)		3,500		3,700		2,015
Tax provision from discontinued operations		830			—		1,200		—
Total provision (benefit) from continuing operations	$	(263,383	)	$	3,500	$	2,500	$	2,015

Schedule of pre-tax income (losses)

(In thousands)	12 Months Ended December 31, 2013			From Inception August 31, 2012 through December 31, 2012			March 30, 2012 through August 30, 2012		52 Weeks Ended March 29, 2012
	(Successor)			(Successor)			(Predecessor)		(Predecessor)
Domestic	$	103,526		$	(39,294	)	$	98,093	$	(78,677	)
Foreign		(1,679	)		124			7		(1,296	)
Total	$	101,847		$	(39,170	)	$	98,100	$	(79,973	)

Schedule of the difference between the effective tax rate on earnings (loss) from continuing operations before income taxes and the U.S. federal income tax statutory rate

(In thousands)	12 Months Ended December 31, 2013			From Inception August 31, 2012 through December 31, 2012			March 30, 2012 through August 30, 2012			52 Weeks Ended March 29, 2012
	(Successor)			(Successor)			(Predecessor)			(Predecessor)
Income tax expense (benefit) at the federal statutory rate	$	34,902		$	(13,470	)	$	21,600		$	(26,730	)
Effect of:
State income taxes		1,479			(1,930	)		2,500			2,015
Change in ASC 740 (formerly FIN 48) reserve		2,193			—			—			(5,400	)
Federal credits		(2,600	)		—			—			—
Change in net operating loss carryforward for excess tax deductions		(28,206	)		—			—			—
Permanent items		537			20			100			825
Other items		(6,088	)		—			—			—
Valuation allowance		(265,600	)		18,880			(21,700	)		31,305
Income tax expense (benefit)	$	(263,383	)	$	3,500		$	2,500		$	2,015
Effective income tax rate		(264.1	)%		(9.1	)%		4.0	%		(2.6	)%

Schedule of significant components of deferred income tax assets and liabilities

	December 31, 2013 (Successor)					December 31, 2012 (Successor)
	Deferred Income Tax					Deferred Income Tax
(In thousands)	Assets		Liabilities			Assets			Liabilities
Tangible assets	$	—	$	(102,669	)	$	—		$	(125,641	)
Accrued reserves		33,156		—			35,359			—
Intangible assets		—		(89,761	)		—			(76,430	)
Receivables		—		(3,513	)		—			(1,632	)
Investments		—		(227,718	)		—			(231,524	)
Capital loss carryforwards		564		—			2,077			—
Pension postretirement and deferred compensation		29,290		—			28,001			—
Corporate borrowings		43,839		—			50,558			—
Deferred revenue		154,155		—			136,350			—
Lease liabilities		97,307		—			86,417			—
Capital and financing lease obligations		37,956		—			40,102			—
Alternative minimum tax and other credit carryovers		19,545		—			15,083			—
Charitable contributions		—		—			1,051			—
Net operating loss carryforward		214,770		—			241,216			—
Total	$	630,582	$	(423,661	)	$	636,214		$	(435,227	)
Less: Valuation allowance		—		—			(248,420	)		—
Total deferred income taxes	$	630,582	$	(423,661	)	$	387,794		$	(435,227	)

Schedule of rollforward of the Company's valuation allowance for deferred tax assets

(In thousands)	Balance at Beginning of Period		Additions Charged (Credited) to Revenues, Costs and Expenses			Charged (Credited) to Goodwill			Charged (Credited) to Other Accounts(1)			Balance at End of Period
Calendar Year 2013
Valuation allowance-deferred income tax assets	$	248,420		(265,600	)		11,088			6,092		$	—
From Inception August 31, 2012 through December 31, 2012
Valuation allowance-deferred income tax assets	$	232,985		18,880			195			(3,640	)	$	248,420
March 30, 2012 through August 30, 2012
Valuation allowance-deferred income tax assets	$	413,666		(21,700	)		(158,981	)		—		$	232,985
Fiscal Year 2012
Valuation allowance-deferred income tax assets	$	329,221		32,560			—			51,885		$	413,666

(1)

Primarily relates to amounts resulting from the Company's tax sharing arrangement, changes in deferred tax assets and associated valuation allowance that are not related to income statement activity as well as amounts charged to other comprehensive income.

Schedule of reconciliation of the change in the amount of unrecognized tax benefits

(In millions)	12 Months Ended December 31, 2013			From Inception August 31, 2012 through December 31, 2012			March 30, 2012 through August 30, 2012			52 Weeks Ended March 29, 2012
	(Successor)			(Successor)			(Predecessor)			(Predecessor)
Balance at beginning of period	$	21.9		$	22.4		$	22.7		$	28.2
Gross increases—current period tax positions		3.8			—			0.6			0.7
Gross increases—prior period tax positions		2.2
Favorable resolutions with authorities		(0.5	)		—			—			(1.0	)
Expired attributes		—			—			—			(5.2	)
Cash settlements		—			(0.5	)		(0.9	)		—
Balance at end of period	$	27.4		$	21.9		$	22.4		$	22.7