Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax benefit from continuing operations for 2014 and expense from continuing operations for 2013 were as follows (dollars in thousands):



	For the Year Ended December 31,
	2014			2013
Current:
Federal	$	(227	)	$	(313	)
State and local	3			(31		)
Total current	(224		)	(344		)

Deferred:
Federal	(6,663		)	52,013
State and local	(982		)	6,068
Total deferred	(7,645		)	58,081
Total income tax (benefit) expense	$	(7,869	)	$	57,737

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the expected federal income tax expense using the federal statutory tax rate of 35% to the Company’s actual income tax benefit and resulting effective tax rate for 2014 and 2013 were as follows (dollars in thousands):



	For the Year Ended December 31,
	2014			2013
Income tax at statutory rate	$	(6,773	)	$	(6,022	)
State income taxes, net of federal tax benefit	(870		)	(1,017		)
Valuation allowance	(2,740		)	63,250
Change in state tax rate	(85		)	198
State tax credits	—			(488		)
Adjustment to deferred tax asset	162			2,118
Expiration of loss carryforward	3,007			—
Uncertain tax positions	(504		)	(311		)
Other	(66		)	9
Total income tax (benefit) expense	$	(7,869	)	$	57,737

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2014 and 2013 were as follows (dollars in thousands):



	December 31, 2014			December 31, 2013
Deferred tax assets:
Basis difference – investments	$	20,049		$	87,105
Federal net operating loss carryforwards	227,519			179,076
State net operating loss carryforwards	16,922			14,436
Other	5,102			3,519
Gross deferred tax asset	269,592			284,136
Valuation allowance	(268,592		)	(282,988		)
Deferred tax asset (A)	1,000			1,148
Deferred tax liabilities:
Other	1,000			1,148
Deferred tax liability (A)	1,000			1,148
Net deferred tax asset	$	—		$	—

(A)

The noncurrent portion of deferred tax assets is included in the deferred income tax assets, net line within the noncurrent assets section of the Company's consolidated balance sheets. As of both December 31, 2014 and 2013, the current portion of deferred tax assets was not material and is netted against the current deferred income tax liability in accordance with the relevant accounting guidance.

Schedule of Unrecognized Tax Benefits Roll Forward

The activity in the accrued liability for unrecognized tax benefits for the years ended December 31, 2014 and 2013 was as follows (dollars in thousands):



	For the Year Ended December 31,
	2014			2013
Beginning balance	$	731		$	1,062
Gross increases – tax positions in current period	300			35
Lapse of statute of limitations	(556		)	(366		)
Ending balance	$	475		$	731