Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

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,
	2014		2013		2012
($ in thousands)
Current
Federal	$	31,787	$	10,395	$	—
State		3,168		1,787		341
Total current tax expense		34,955		12,182		341
Deferred
Federal		3,200		29,933		19,707
State		1,194		2,663		6,982
Total deferred tax expense (benefit)		4,394		32,596		26,689
Total expense for income taxes	$	39,349	$	44,778	$	27,030

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,
	2014					2013					2012
($ in thousands)
Tax at statutory rate	$	47,922		35	%	$	41,968		35	%	$	22,645		35	%
State taxes, net of federal benefit		4,357		3			2,893		2			4,793		7
Uncertain tax positions		(30,961	)	(22	)		—		—			—		—
IRS audit resolution		15,505		11			—		—			—		—
Change in valuation allowance		2,165		2			(264	)	—			(242	)	—
Other, net		361		—			181		—			(166	)	—
Income tax expense	$	39,349		29	%	$	44,778		37	%	$	27,030		42	%

Summary of Tax Effects of Temporary Differences

The tax effects of temporary differences are as follows:

	December 31,
	2014			2013
($ in thousands)
Deferred tax assets:
Intangible assets	$	36,340		$	43,827
Net operating losses		21,547			23,705
Compensation accruals		6,757			6,280
Investments		8,717			5,111
Unrealized loss/(gain)		2,362			(2,357	)
Other		46			1,581
Gross deferred tax assets		75,769			78,147
Valuation allowance		(2,397	)		(35	)
Gross deferred tax assets after valuation allowance		73,372			78,112
Deferred tax liabilities:
Intangible assets		(12,718	)		(13,078	)
Other investments		(492	)		(534	)
Gross deferred tax liabilities		(13,210	)		(13,612	)
Deferred tax assets, net	$	60,162		$	64,500

Summary of Activity in Unrecognized Tax Benefits

Activity in unrecognized tax benefits is as follows:

	Years Ended December 31,
	2014			2013.			2012
($ in thousands)
Balance, beginning of year	$	32,602		$	33,948		$	34,139
Decrease related to tax positions taken in prior years		(32,602	)		(1,346	)		(191	)
Increase related to positions taken in the current year		—			—			—
Balance, end of year	$	—		$	32,602		$	33,948