Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax benefit from continuing operations are (in thousands):



	For the Year Ended December 31,
	2016			2015
Current:
Federal	$	(14	)	$	(13	)
State and local	(7		)	(15		)
Total current	$	(21	)	$	(28	)

Schedule of Effective Income Tax Rate Reconciliation

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 (in thousands).



	For the Year Ended December 31,
	2016			2015
Income tax (benefit) at statutory rate	$	1,129		$	(977	)

State income taxes, net of federal tax benefit	211			(96		)
Valuation allowance	14,595			2,519
Change in state tax rate	(16,475		)	—
State tax credits	—			488
Adjustment to deferred tax asset	—			(1,965		)
Bankruptcy reorganization	437			—
Uncertain tax positions	(35		)	(87		)
Other	117			90
Total income tax benefit	$	(21	)	$	(28	)

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2016 and 2015 are (in thousands):



	December 31,
	2016			2015
Deferred tax assets:
Basis difference – investments	$	17,261		$	18,043
Federal net operating loss carryforwards	239,942			239,003
State net operating loss carryforwards	35,896			20,168
Other	2,816			4,882
Gross deferred tax asset	295,915			282,096
Valuation allowance	(292,214		)	(281,548		)
Deferred tax asset	3,701			548
Deferred tax liabilities:
Other	3,701			548
Deferred tax liability	3,701			548
Net deferred tax asset	$	—		$	—

Schedule of Unrecognized Tax Benefits Roll Forward

The activity in the accrued liability for unrecognized tax benefits for the years ended December 31, 2016 and 2015 was (in thousands):



	For the Year Ended December 31,
	2016			2015
Beginning balance	$	368		$	475
Gross increases – tax positions in current period	2			19
Lapse of statute of limitations	(39		)	(126		)
Ending balance	$	331		$	368