INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2015

The Company’s federal and state income tax provision (benefit) from continuing operations is summarized in the following table (in thousands):

The effect of temporary differences that give rise to a significant portion of deferred taxes is as follows (in thousands):



	December 31,
	2015			2014
Deferred tax assets:
Reserves not currently deductible	$	27,467		$	28,387
Net operating loss carryforwards	91,350			65,097
Goodwill and intangibles (tax deductible)	34,983			8,458
Accrued expenses	654			32
Property basis differences	1,021			301
Stock based compensation	8,245			8,201
Other	715			610
Total deferred tax assets	164,435			111,086
Deferred tax liabilities:
Indefinite-lived goodwill and intangibles	(236		)	(18,118		)
Less: valuation allowance	(164,435		)	(111,086		)
Net deferred tax liability	(236		)	(18,118		)
Deferred taxes	$	(236	)	$	(18,118	)

The Company’s reconciliation of the statutory rate to the effective income tax rate from continuing operations is as follows (in thousands):



	Year Ended December 31,
	2015			2014			2013
Tax (benefit) provision at statutory rate	$	(113,736	)	$	(48,554	)	$	(24,633	)
State tax (benefit) provision, net of federal taxes	(8,356		)	(3,959		)	(3,239		)
Valuation allowance changes affecting income tax expense	57,023			63,641			29,805
Change in tax contingencies	(37		)	(109		)	(1,157		)
Non-deductible transaction costs	—			—			317
Goodwill impairment	43,362			—			—
Other	212			174			167
Tax provision (benefit)	$	(21,532	)	$	11,193		$	1,260

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows (in thousands):



	Year Ended December 31,
	2015			2014			2013
Unrecognized tax benefits balance at January 1,	$	1,096		$	1,172		$	2,754
Lapse of statute of limitations	(29		)	(76		)	(1,582		)
Unrecognized tax benefits balance at December 31,	$	1,067		$	1,096		$	1,172