Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes [Abstract]

Allocation of income tax expense

Total income taxes for the years ended December 31, 2012, 2011 and 2010 were allocated as follows:

	2012			2011			2010
	(in thousands)
Income tax expense on continuing operations	$	12,008		$	10,667		$	13,393
Income tax benefit on discontinued operations		(196	)		(359	)		(480	)
Shareholders' equity, for compensation expense for tax purposes in excess of amounts recognized for financial reporting purposes		(106	)		(5	)		(70	)
Other comprehensive income for changes in unrecognized actuarial losses on pensions		-			-			1,549
Other comprehensive income for changes in cash flow hedge		(574	)
	$	11,132		$	10,303		$	14,392

Components of federal and state income taxes

The Company and its subsidiaries file income tax returns in several jurisdictions.  The provision for the federal and state income taxes attributable to income from continuing operations consists of the following components:

	Years Ended December 31,
	2012		2011			2010
	(in thousands)
Current expense (benefit)
Federal taxes	$	3,741	$	(8,539	)	$	6,240
State taxes		1,868		3,233			2,535
Total current provision (benefit)		5,609		(5,306	)		8,775
Deferred expense (benefit)
Federal taxes		5,618		15,749			3,991
State taxes		781		224			627
Total deferred provision		6,399		15,973			4,618
Income tax expense on continuing operations	$	12,008	$	10,667		$	13,393

Reconciliation of income taxes

A reconciliation of income taxes determined by applying the federal and state tax rates to income from continuing operations is as follows for the years ended December 31, 2012, 2011 and 2010:

	Years Ended December 31,
		2012		2011			2010
	(in thousands)
Computed "expected" tax expense (35%)		$	10,014	$	8,472		$	11,258
State income taxes, net of federal tax effect			1,722		2,247			2,055
Other, net			272		(52	)		80
Income tax expense on continuing operations		$	12,008	$	10,667		$	13,393

Deferred tax assets and liabilities

Net deferred tax assets and liabilities consist of the following at December 31, 2012 and 2011:

		2012			2011
		(in thousands)
Deferred tax assets:
Lease obligations	$	1,374		$	1,168
Deferred activation charges		105			64
Allowance for doubtful accounts		441			320
Inventory reserves		244			80
State net operating loss carry-forwards, net of federal tax		782			590
Accrued pension costs		879			902
Loss on investments, net		438			783
Accrued compensation costs		996			697
Asset retirement obligations		2,356			3,131
Intangible assets		7,966			6,309
Goodwill		4,091			198
Deferred revenues		1,401			-
Other, net		549			256
Total gross deferred tax assets		21,622			14,498
Less valuation allowance		(538	)		(518	)
Net deferred tax assets		21,084			13,980
Deferred tax liabilities:
Plant and equipment	$	72,747			62,719
Franchise rights		4,211			2,381
Section 481a deferred revenues		737			-
Deferred financing costs		453			-
Deferred activation charges		-			53
Total gross deferred tax liabilities		78,148			65,153
Net deferred tax liabilities	$	57,064		$	$51,173