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Note 13 - Income Taxes Level 3 (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Components of Income Tax Expense [Table Text Block]

The components of our consolidated income tax provision (benefit) from continuing operations are as follows:



	Year Ended December 31,
(In thousands)	2015		2014			2013
Current provision (benefit)	$	120	$	(26,575	)	$	352
Deferred provision (benefit)	156,170		(825,843		)	(31,847		)
Total income tax provision (benefit)	$	156,290	$	(852,418	)	$	(31,495	)

Reconciliation of Taxes at Statutory Rate to Provision (Benefit) for Income Taxes [Table Text Block]

The reconciliation of taxes computed at the statutory tax rate of 35% to the provision (benefit) for income taxes on continuing operations is as follows:



	Year Ended December 31,
(In thousands)	2015			2014			2013
Provision (benefit) for income taxes computed at the statutory tax rate	$	153,240		$	142,504		$	(60,671	)
Change in tax resulting from:
Tax-exempt municipal bond interest and dividends received deduction (net of proration)	(1,085		)	(1,286		)	(1,494		)
Repurchase premium on convertible notes	(6,674		)	—			—
Foreign tax expense (benefit)	357			270			(1		)
State tax (benefit) expense	(7,619		)	(451		)	949
Unrecognized tax expense	5,233			407			1,696
Valuation allowance	11,931			(995,008		)	24,546
Other, net	907			1,146			3,480
Provision (benefit) for income taxes	$	156,290		$	(852,418	)	$	(31,495	)

Schedule of Components of Deferred Tax Assets and Liabilities [Table Text Block]

The significant components of our net deferred tax assets and liabilities from continuing operations are summarized as follows:



	December 31,
(In thousands)	2015		2014
DTAs:
Accrued expenses	$	38,456	$	60,858
Unearned premiums	87,609		82,800
NOL	342,002		475,095
Differences in fair value of financial instruments	7,767		—
Net unrealized loss on investments	9,801		—
State and Local NOL Carryforwards	46,914		34,851
Partnership investments	74,309		74,179
Loss reserves	4,720		6,362
Outside basis difference of investment in subsidiary	—		14,084
Alternative minimum tax credit carryforward	5,923		2,286
Other	34,241		47,991
Total DTAs	651,742		798,506
DTLs:
Convertible and other long-term debt	16,654		38,750
Net unrealized gain on investments	—		26,145
Depreciation	6,397		—
Other	14,516		15,536
Total DTLs	37,567		80,431
Less: Valuation allowance	36,230		17,874
Net DTA	$	577,945	$	700,201

Summary of Income Tax Contingencies [Table Text Block]

A reconciliation of the beginning and ending unrecognized tax benefits is as follows:



	Year Ended December 31,
(In thousands)	2015			2014
Balance at beginning of period	$	120,223		$	119,236
Tax positions related to the current year:
Increases	6,461			2,352
Decreases	(336		)	—
Tax positions related to prior years:
Increases	22,734			24,361
Decreases	(2,102		)	(1,546		)
Lapses of applicable statute of limitation	(22,734		)	(24,180		)
Balance at end of period	$	124,246		$	120,223

Summary of Income Tax Examinations [Table Text Block]

The following calendar tax years, listed by major jurisdiction, remain subject to examination:



U.S. Federal Corporation Income Tax (1)	2000 - 2007, 2012 - 2014
Significant State and Local Jurisdictions (2)	1999 - 2014

_________________________


(1)	For the 2000 through 2007 calendar tax years, we petitioned the U.S. Tax Court to litigate the IRS Notices of Deficiency resulting from the examination of our 2000 through 2007 consolidated federal income tax returns. This litigation relates to the recognition of certain tax benefits associated with our investment in a portfolio of non-economic REMIC residual interests.


(2)	Arizona, California, Florida, Georgia, New York, Ohio, Pennsylvania and New York City.