Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Components of Provision for Income Taxes

The components of the provision for income taxes are as follows:

	Years Ended December 31,
	2016		2015		2014
($ in thousands)
Current
Federal	$	12,790	$	28,077	$	31,787
State	1,855		2,539		3,168
Total current tax expense	14,645		30,616		34,955
Deferred
Federal	5,489		4,339		3,200
State	910		2,017		1,194
Total deferred tax expense	6,399		6,356		4,394
Total expense for income taxes	$	21,044	$	36,972	$	39,349

Reconciliation of Provision (Benefit) for Income Taxes

The following presents a reconciliation of the provision (benefit) for income taxes computed at the federal statutory rate to the provision (benefit) for income taxes recognized in the Consolidated Statements of Operations for the years indicated:

	Years Ended December 31,
	2016					2015				2014
($ in thousands)
Tax at statutory rate	$	24,432		35	%	$	23,675	35	%	$	47,922		35	%
State taxes, net of federal benefit	2,010			3		2,717		4		4,357			3
Uncertain tax positions	—			—		—		—		(30,961		)	(22	)
IRS audit resolution	—			—		—		—		15,505			11
Effect of net income attributable to noncontrolling interests	(91		)	—		1,492		2		—			—
Change in valuation allowance	(5,125		)	(7	)	7,812		12		2,165			2
Other, net	(182		)	(1	)	1,276		2		361			—
Income tax expense	$	21,044		30	%	$	36,972	55	%	$	39,349		29	%

Summary of Tax Effects of Temporary Differences

The tax effects of temporary differences are as follows:

	December 31,
	2016			2015
($ in thousands)
Deferred tax assets:
Intangible assets	$	19,348		$	27,728
Net operating losses	20,272			20,591
Compensation accruals	8,854			7,804
Capitalized transaction costs	10,022			8,704
Unrealized loss	5,291			12,157
Other	1,394			118
Gross deferred tax assets	65,181			77,102
Valuation allowance	(5,731		)	(10,855		)
Gross deferred tax assets after valuation allowance	59,450			66,247
Deferred tax liabilities:
Intangible assets	(11,915		)	(12,104		)
Gross deferred tax liabilities	(11,915		)	(12,104		)
Deferred tax assets, net	$	47,535		$	54,143

Summary of Activity in Unrecognized Tax Benefits

Activity in unrecognized tax benefits is as follows:

	Years Ended December 31,
	2016		2015		2014
($ in thousands)
Balance, beginning of year	$	—	$	—	$	32,602
Decrease related to tax positions taken in prior years	—		—		(32,602		)
Increase related to positions taken in the current year	—		—		—
Balance, end of year	$	—	$	—	$	—