Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

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,
	2013		2012		2011
($ in thousands)
Current
Federal	$	10,395	$	—	$	—
State		1,787		341		49
Total current tax expense		12,182		341		49
Deferred
Federal		29,933		19,707		(104,227	)
State		2,663		6,982		(28,250	)
Total deferred tax expense (benefit)		32,596		26,689		(132,477	)
Total expense (benefit) for income taxes	$	44,778	$	27,030	$	(132,428	)

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,
	2013					2012					2011
($ in thousands)
Tax at statutory rate	$	41,968		35	%	$	22,645		35	%	$	4,547		35	%
State taxes, net of federal benefit		2,893		2			4,793		7			6,222		48
Affiliated stock loss		—		—			—		—			3,283		25
Contingency reserve		—		—			—		—			27,911		215
Change in valuation allowance		(264	)	—			(242	)	—			(174,527	)	(1,343	)
Other, net		181		—			(166	)	—			136		1
Income tax expense (benefit)	$	44,778		37	%	$	27,030		42	%	$	(132,428	)	(1,019	)%

Summary of Tax Effects of Temporary Differences

The tax effects of temporary differences are as follows:

	December 31,
	2013			2012
($ in thousands)
Deferred tax assets:
Intangible assets	$	43,827		$	51,494
Net operating losses		23,705			49,001
Capital loss carryforward		—			1,122
Compensation accruals		6,280			4,794
Investments		5,111			5,044
Other		1,581			83
Gross deferred tax assets		80,504			111,538
Valuation allowance		(35	)		(1,611	)
Gross deferred tax assets after valuation allowance		80,469			109,927
Deferred tax liabilities:
Intangible assets		(13,078	)		(10,884	)
Unrealized gains		(2,357	)		(1,214	)
Other investments		(534	)		(906	)
Gross deferred tax liabilities		(15,969	)		(13,004	)
Deferred tax assets (liability), net	$	64,500		$	96,923

Summary of Activity in Unrecognized Tax Benefits

Activity in unrecognized tax benefits is as follows:

	Years Ended December 31,
	2013			2012			2011
($ in thousands)
Balance, beginning of year	$	33,948		$	34,139		$	—
Decrease related to tax positions taken in prior years		(1,346	)		(191	)		—
Increase related to positions taken in the current year		—			—			34,139
Balance, end of year	$	32,602		$	33,948		$	34,139