INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2017

INCOME TAXES

Summary of components of the federal and state income tax expense (benefit)

	For the year ended
	December 31,
	2017		2016		2015
	(in thousands)
Current tax (benefit) expense
Federal income tax	$	(338)	$	—	$	341
State and local income tax		(77)		275		836
Foreign income tax		—		—		—
Total current (benefit) expense		(415)		275		1,177
Deferred tax (benefit) expense
Federal income tax		(422)		(841)		(785)
State and local income tax		(14)		42		(68)
Foreign income tax		—		—		—
Total deferred benefit		(436)		(799)		(853)
Total income tax (benefit) provision	$	(851)	$	(524)	$	324
Tax (benefit) expense attributable to controlling interests	$	(405)	$	(179)	$	324
Tax benefit attributable to noncontrolling interests		(446)		(345)		—
Total income tax (benefit) provision	$	(851)	$	(524)	$	324

Summary of reconciliation of the provision for income taxes

	For the year ended December 31,
	2017			2016
	(in thousands)
Provision calculated at federal statutory income tax rate:
Loss before taxes	$	(35,978)		$	(314,472)
Statutory rate		35	%		35	%
Income tax benefit computed at statutory rate		(12,592)			(110,065)
Less: noncontrolling interests		6,409			109,230
Income tax benefit attributable to controlling interests		(6,183)			(835)
State and local income taxes, net of federal benefit		(91)			317
Change in enacted tax rate		39,166			—
Change in valuation allowance		(33,297)			339
Income tax benefit attributable to controlling interests		(405)			(179)
Income tax benefit attributable to noncontrolling interests		(446)			(345)
Total income tax benefit	$	(851)		$	(524)

Summary of principal components of the deferred tax assets (liabilities)

	For the year ended
	December 31,
	2017		2016
	(in thousands)
Deferred tax assets
Outside basis difference in SES Holdings	$	37,931	$	3,601
Net operating losses		35,243		3,999
Credits and other carryforwards		863		297
Property and equipment		—		362
Intangible assets		1,218		—
Stock compensation		2,557		—
Other		1,340		—
Total deferred tax assets before valuation allowance		79,152		8,259
Valuation allowance		(75,886)		(7,932)
Total deferred tax assets		3,266		327
Deferred tax liabilities
Property and equipment		3,286		—
Intangible assets		—		811
Other		549		113
Total deferred tax liabilities		3,835		924
Net deferred tax liabilities	$	(569)	$	(597)