Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Components of Income Tax Expense (Benefit)

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



	For the Year Ended December 31,
	2017			2016
Current:
Federal	$	(1	)	$	(14	)
State and local	15			(7		)
Total current	$	14		$	(21	)

Schedule of Effective Income Tax Rate Reconciliation

Below is a reconciliation of the expected federal income tax expense (benefit) 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,
	2017			2016
Income tax (benefit) at statutory rate	$	(3,802	)	$	1,129

State income taxes, net of federal tax benefit	(54		)	211
Valuation allowance	(131,234		)	14,595
Change in federal tax rate	33,640			—
Change in state tax rate	100,899			(16,475		)
Bankruptcy reorganization	746			437
Uncertain tax positions	(4		)	(35		)
Other	(177		)	117
Total income tax expense (benefit)	$	14		$	(21	)

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities are (in thousands):



	December 31,
	2017			2016
Deferred tax assets:
Basis difference – investments	$	8,015		$	17,261
Federal NOL carryforwards	145,608			239,942
State NOL carryforwards	8,301			35,896
Other	2,756			2,816
Gross deferred tax asset	164,680			295,915
Valuation allowance	(162,708		)	(292,214		)
Deferred tax asset	1,972			3,701
Deferred tax liabilities:
Other	1,972			3,701
Deferred tax liability	1,972			3,701
Net deferred tax asset	$	—		$	—

Schedule of Unrecognized Tax Benefits Roll Forward

The activity in the accrued liability for unrecognized tax benefits, included in other current liabilities, was (in thousands):



	For the Year Ended December 31,
	2017			2016
Beginning balance	$	331		$	368
Gross increases – tax positions in current period	22			2
Lapse of statute of limitations	(25		)	(39		)
Ending balance	$	328		$	331