Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes [Abstract]

Components of Income Tax Expense

The components of income tax expense were as follows (in thousands):

	Year Ended December 31,
	2012		2011		2010
Current	$	493	$	1,016	$	18
Deferred		1,458		5,025		1,082
	$	1,951	$	6,041	$	1,100

Reconciliation of the Statutory Federal Income Tax Rate to Income Before Income Taxes

Income tax expense differs from the amount computed by applying the statutory federal income tax rate to income before income taxes as follows (in thousands):

	Year Ended December 31,
	2012			2011			2010
Provision at U.S. statutory rate	$	1,522		$	5,335		$	947
State taxes, net of federal benefit		148			567			119
Permanent differences, primarily meals and entertainment		232			266			213
Merger expenses and true up of merger treatment		-			-			135
Tax credits		(104	)		(127	)		(214	)
Increase to deferred tax liability tax rate		153			-			-
Release of valuation allowance		-			-			(100	)
	$	1,951		$	6,041		$	1,100

Significant Components of Deferred Tax Assets and Liabilities

Significant components of our deferred tax assets and liabilities were as follows (in thousands):

	December 31,
	2012			2011
Deferred tax assets
Net operating losses and alternative minimum tax credit carryforwards	$	711		$	2,059
Accrued salaries and severance		988			975
Other		828			766
		2,527			3,800
Deferred tax liabilities
Property, equipment and leasehold improvements		(11,843	)		(11,369	)
Intangible assets		(6,422	)		(6,450	)
Equity investments		-			(251	)
Other		(168	)		(46	)
		(18,433	)		(18,116	)
	$	(15,906	)	$	(14,316	)

Net Operating Losses and Alternative Minimum Tax Credit Carryforwards

As of December 31, 2012, included in our net operating losses and alternative minimum tax credit carryforwards of $0.7 million are the following (in thousands):

State NOLs, tax effected	$	73
Federal and state alternative minimum tax credit carryforwards	$	609
Federal insurance contributions act ("FICA") credit carryforwards, tax effected	$	29