Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Taxes [Abstract]

Allocation of income tax expense

Total income taxes for the years ended December 31, 2013, 2012 and 2011 were allocated as follows:

	2013			2012			2011
	(in thousands)
Income tax expense on continuing operations	$	19,878		$	12,008		$	10,667
Income tax benefit on discontinued operations		-			(196	)		(359	)
Shareholders’ equity, for compensation expense for tax purposes in excess of amounts recognized for financial reporting purposes		(101	)		(106	)		(5	)
Other comprehensive income for changes in cash flow hedge		2,315			(574	)
	$	22,092		$	11,132		$	10,303

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,
	2013		2012		2011
	(in thousands)
Current expense (benefit)
Federal taxes	$	3,404	$	3,741	$	(8,539	)
State taxes		2,305		1,868		3,233
Total current provision (benefit)		5,709		5,609		(5,306	)
Deferred expense (benefit)		08	$	10,667
Federal taxes		12,317		5,618		15,749
State taxes		1,852		781		224
Total deferred provision		14,169		6,399		15,973
Income tax expense on continuing operations	$	19,878	$	12,008	$	10,667

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, 2013, 2012 and 2011:

		Years Ended December 31,
		2013			2012		2011
	(in thousands)
Computed “expected” tax expense (35%)		$	17,312		$	10,014	$	8,472
State income taxes, net of federal tax effect			2,702			1,722		2,247
Other, net			(136	)		272		(52	)
Income tax expense on continuing operations		$	19,878		$	12,008	$	10,667

Deferred tax assets and liabilities

Net deferred tax assets and liabilities consist of the following at December 31, 2013 and 2012:

	2013			2012
	(in thousands)
Deferred tax assets:
Lease obligations	$	2,139		$	1,374
Deferred activation charges		107			105
Allowance for doubtful accounts		370			441
Inventory reserves		259			244
State net operating loss carry-forwards, net of federal tax		650			782
Accrued pension costs		1,018			879
Loss on investments, net		-			438
Accrued compensation costs		1,140			996
Asset retirement obligations		2,601			2,356
Intangible assets		7,757			7,966
Goodwill		2,660			4,091
Deferred revenues		1,873			1,401
Other, net		-			549
Total gross deferred tax assets		20,574			21,622
Less valuation allowance		(591	)		(538	)
Net deferred tax assets		19,983			21,084
Deferred tax liabilities:
Plant and equipment	$	84,772			72,747
Franchise rights		5,942			4,211
Section 481a deferred revenues		493			737
Deferred financing costs		128			453
Prepaid insurance		241			-
Gain on investments, net		115			-
Other, net		1,876			-
Total gross deferred tax liabilities		93,567			78,148
Net deferred tax liabilities	$	73,584		$	57,064