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Note 10 - Income Taxes Level 3 (Tables)

12 Months Ended

Dec. 31, 2016

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)	2016		2015		2014
Current provision (benefit)	$	4,546	$	120	$	(26,575	)
Deferred provision (benefit)	170,887		156,170		(825,843		)
Total income tax provision (benefit)	$	175,433	$	156,290	$	(852,418	)

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)	2016			2015			2014
Provision for income taxes computed at the statutory tax rate	$	169,290		$	153,240		$	142,504
Change in tax resulting from:
Repurchase premium on convertible notes	9,988			(6,674		)	—
State tax (benefit)	(8,974		)	(7,619		)	(451		)
Valuation allowance	10,663			11,931			(995,008		)
Other, net	(5,534		)	5,412			537
Provision (benefit) for income taxes	$	175,433		$	156,290		$	(852,418	)

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)	2016		2015
DTAs:
Accrued expenses	$	41,219	$	38,456
Unearned premiums	67,538		87,609
NOL	179,128		342,002
Differences in fair value of financial instruments	—		7,767
Net unrealized loss on investments	6,285		9,801
State income taxes	51,875		46,914
Partnership investments	73,918		74,309
Loss reserves	3,801		4,720
Alternative minimum tax credit carryforward	7,367		5,923
Other	49,511		34,241
Total DTAs	480,642		651,742
DTLs:
Convertible and other long-term debt	2,212		16,654
Differences in fair value of financial instruments	1,758		—
Depreciation	10,626		6,397
Other	7,356		14,516
Total DTLs	21,952		37,567
Less: Valuation allowance	46,892		36,230
Net DTA	$	411,798	$	577,945

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)	2016			2015
Balance at beginning of period	$	124,246		$	120,223
Tax positions related to the current year:
Increases	1,203			6,461
Decreases	(1,835		)	(336		)
Tax positions related to prior years:
Increases	22,389			22,734
Decreases	(1,406		)	(2,102		)
Lapses of applicable statute of limitation	(21,569		)	(22,734		)
Balance at end of period	$	123,028		$	124,246

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, 2013 - 2015
Significant State and Local Jurisdictions (2)	2000 - 2015

______________________


(1)	For the 2000 through 2007 calendar tax years, we petitioned the 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)	California, Florida, Georgia, New York, Ohio, Pennsylvania and New York City.