FEDERAL AND STATE INCOME TAXES (Tables)

12 Months Ended

Nov. 30, 2015

Significant Components of the Provision for Income Taxes from Continuing Operations

Significant components of the provision for income taxes for the years ended November 30, are as follows (in thousands):



	2013			2014			2015
Current tax expense (benefit):
Federal	$	(8,008	)	$	42,243		$	46,095
State	(220		)	3,336			3,891
Deferred tax expense (benefit):
Federal	33,235			(13,450		)	(15,164		)
State	2,777			1,104			(514		)
Provision for income taxes	$	27,784		$	33,233		$	34,308

Reconciliation of Federal Statutory Tax Rates to Income Tax Expense from Continuing Operations

The reconciliation of income tax expense computed at the federal statutory tax rates to income tax expense for the years ended November 30, is as follows (percent of pre-tax income):



	2013		2014		2015
Income tax computed at federal statutory rates	35.0	%	35.0	%	35.0	%
State income taxes, net of federal tax benefit	4.2		3.8		2.5
MA abandonment benefit	—		(5.9	)	—
Other, net	(1.2	)	0.1		0.2
	38.0	%	33.0	%	37.7	%

Components of Net Deferred Tax Assets (Liabilities)

The components of the net deferred tax assets (liabilities) at November 30, are as follows (in thousands):



	2014			2015
Loss carryforwards	$	13,518		$	13,918
Deferred revenues	3,313			2,609
Accruals	4,649			7,204
Compensation related	3,556			3,509
Interest	4,077			3,406
Other	895			—
Deferred tax assets	30,008			30,646
Valuation allowance	(7,832		)	(7,893		)
Deferred tax assets, net of valuation allowance	22,176			22,753
Amortization and depreciation	(369,033		)	(357,389		)
Equity investment	(4,285		)	(1,273		)
Other	(345		)	(323		)
Deferred tax liabilities	(373,663		)	(358,985		)
Net deferred tax liabilities	$	(351,487	)	$	(336,232	)

Deferred tax assets — current	$	2,789		$	—
Deferred tax liabilities — noncurrent	(354,276		)	(336,232		)
Net deferred tax liabilities	$	(351,487	)	$	(336,232	)

Reconciliation of Unrecognized Tax Liability

A reconciliation of the beginning and ending amount of unrecognized tax liability is as follows (in thousands):



Balance at December 1, 2014	$	399
Additions based on tax positions related to the current year	—
Additions for tax positions of prior years	—
Reductions for tax positions of prior years	(43		)
Balance at November 30, 2015	$	356