INCOME TAXES (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2014

Dec. 31, 2013

Schedule of Components of Income Tax Expense (Benefit)

The Company’s income tax benefit (expense) for the three and nine months ended September 30, 2014 and 2013, respectively, consisted of the following components:

(In thousands)	Three Months Ended September 30,					Nine Months Ended September 30,
	2014			2013		2014			2013
Current tax benefit (expense)	$	(11,689	)	$	2,088	$	(47,276	)	$	(36,706	)
Deferred tax benefit (expense)		(12,687	)		71,714		(44,866	)		195,356
Income tax benefit (expense)	$	(24,376	)	$	73,802	$	(92,142	)	$	158,650

Significant components of the provision for income tax benefit (expense) are as follows:

(In thousands)	Years Ended December 31,
	2013		2012		2011
Current - Federal	$	10,586	$	61,655	$	18,608
Current - foreign		(48,466)		(48,579)		(51,293)
Current - state		1,527		(9,408)		14,719
Total current benefit (expense)		(36,353)		3,668		(17,966)
Deferred - Federal		126,905		261,014		126,078
Deferred - foreign		8,932		27,970		13,708
Deferred - state		22,333		15,627		4,158
Total deferred benefit		158,170		304,611		143,944
Income tax benefit	$	121,817	$	308,279	$	125,978

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax liabilities and assets as of December 31, 2013 and 2012 are as follows ⁽¹⁾:

(In thousands)	2013		2012
Deferred tax liabilities:
Intangibles and fixed assets	$	2,402,168	$	2,451,874
Long-term debt		183,615		381,712
Investments in nonconsolidated affiliates		-		49,654
Unrealized loss in marketable securities		-		10,058
Other investments		6,759		5,832
Other		6,655		5,480
Total deferred tax liabilities		2,599,197		2,904,610
Deferred tax assets:
Accrued expenses		106,651		85,132
Investments in nonconsolidated affiliates		1,824		-
Net operating loss carryforwards		1,287,239		1,278,894
Bad debt reserves		9,726		12,633
Other		35,527		41,011
Total gross deferred tax assets		1,440,967		1,417,670
Less: Valuation allowance		327,623		183,686
Total deferred tax assets		1,113,344		1,233,984
Net deferred tax liabilities	$	1,485,853	$	1,670,626

⁽¹⁾  For comparability, the presentation of the balances at December 31, 2012 were adjusted to align to current year presentation of gross foreign deferred taxes and associated valuation allowances on our foreign subsidiaries.

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation of income tax computed at the U.S. Federal statutory tax rates to income tax benefit is:

	Years Ended December 31,
(In thousands)	2013			2012			2011
	Amount		Percent	Amount		Percent	Amount		Percent
Income tax benefit atstatutory rates	$	246,867	35%	$	251,814	35%	$	137,903	35%
State income taxes, net of federal tax effect		32,768	4%		6,218	1%		18,877	5%
Foreign income taxes		(22,640)	(3%)		8,782	2%		(4,683)	(1%)
Nondeductible items		(4,870)	(1%)		(4,617)	(1%)		(3,154)	(1%)
Changes in valuation allowance and other estimates		(135,161)	(19%)		50,697	7%		(15,816)	(4%)
Other, net		4,853	1%		(4,615)	(1%)		(7,149)	(2%)
Income tax benefit	$	121,817	17%	$	308,279	43%	$	125,978	32%

Schedule of Unrecognized Tax Benefits

The total amount of unrecognized tax benefits at December 31, 2013 and 2012 that, if recognized, would impact the effective income tax rate is $100.1 million and $107.0 million, respectively.

(In thousands)	Years Ended December 31,
Unrecognized Tax Benefits	2013		2012
Balance at beginning of period	$	138,437	$	175,782
Increases for tax position taken in the current year		12,004		10,575
Increases for tax positions taken in previous years		13,163		14,774
Decreases for tax position taken in previous years		(21,928)		(55,113)
Decreases due to settlements with tax authorities		(1,113)		(7,581)
Decreases due to lapse of statute of limitations		(11,188)		-
Balance at end of period	$	129,375	$	138,437