Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of significant components of the net deferred tax assets (liabilities)

The significant components of the net deferred tax assets (liabilities) as of December 31, 2015 and 2014 are as follows (in thousands):

	December 31,
	2015			2014
	(In thousands)
Deferred tax assets
Capitalizable transaction costs	$	667		$	784
Contingent consideration	1,198			1,411
Management contracts	2,022			2,377
Other	1,112			466
Total deferred tax assets	4,999			5,038
Deferred tax liabilities
Cost method investment	(670		)	(469		)
Other	(123		)	—
Total deferred tax liabilities	(793		)	(469		)
Total deferred tax assets, net	$	4,206		$	4,569

Components of income tax benefit (expense)

The components of income tax benefit (expense) for the years ended December 31, 2015, 2014 and 2013 are as follows (in thousands):

	For the Year Ended
	December 31,
	2015			2014			2013
Current:
Federal	$	(854	)	$	(2,876	)	$	(488	)
State	(686		)	(2,026		)	(67		)
Total current	(1,540		)	(4,902		)	(555		)
Deferred:
Federal	124			3,868			1,582
State	(487		)	895			378
Total deferred	(363		)	4,763			1,960
Total income tax (expense) benefit	$	(1,903	)	$	(139	)	$	1,405

Reconciliation of income tax attributable to continuing operations

The reconciliation of income tax expense computed at the U.S. statutory income tax rate and the income tax expense in the consolidated statements operations is shown below (in thousands):

	For the Years Ended December 31,
	2015					2014					2013
	Amount			Percentage		Amount			Percentage		Amount			Percentage
Pre-tax income (loss) from continuing operations	$	(32,853	)	34.0	%	$	(11,654	)	34.0	%	$	12,485		34.0	%
REIT earnings without income tax provision	22,745			(23.5	)%	12,121			(35.4	)%	(13,083		)	(35.6	)%
Noncontrolling interest	9,312			(9.6	)%	430			(1.3	)%	2,588			7.0	%
State income tax, net of federal tax benefit	(778		)	0.8	%	(1,090		)	3.2	%	185			0.5	%
Effect of permanent differences	(6		)	—	%	(41		)	0.1	%	(291		)	(0.8	)%
Valuation allowance	—			—	%	479			(1.4	)%	(479		)	(1.3	)%
Other - Peachtree	—			—	%	(422		)	1.2	%	—			—	%
Other	(323		)	0.3	%	38			(0.1	)%	—			—	%
Total income tax (expense) benefit	$	(1,903	)	2.0	%	$	(139	)	0.3	%	$	1,405		3.8	%

Reconciliation of unrecognized tax benefits

A reconciliation of the Company’s unrecognized tax benefits as of December 31, 2015 and 2014 (in thousands):

	December 31,
	2015		2014
	(In thousands)
Unrecognized Tax Benefits - Opening Balance	$	6,857	$	7,999
Gross increases - current period tax positions	—		—
Gross decreases - lapse of statute of limitations	—		(1,142		)
Unrecognized Tax Benefits - Ending Balance	$	6,857	$	6,857

Schedule of distributions paid per common share

The following characterizes distributions paid per common share for the years ended December 31, 2015, 2014 and 2013 (Unaudited):

	2015				2014				2013
	Amount		Percentage		Amount		Percentage		Amount		Percentage
Ordinary income	$	0.2689	35.9	%	$	0.7141	95.2	%	$	0.4425	69.4	%
Capital gain	—		—		0.0359		4.8	%	—		—
Unrecaptured Section 1250 gain	—		—		—		—		0.0831		13.0	%
Return of capital	0.4811		64.1	%	—		—		0.1119		17.6	%
	$	0.7500	100.0	%	$	0.7500	100.0	%	$	0.6375	100.0	%