Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Benefit for Income Taxes from Continuing Operations

The benefit for income taxes for continuing operations consists of the following (amounts in thousands):


	2015			2014			2013
CURRENT:
Federal	$	(763	)	$	(2,071	)	$	4,528
State		(1,229	)		(2,339	)		(1,396	)

Total current (provision) benefit		(1,992	)		(4,410	)		3,132

DEFERRED:
Federal		8,866			2,588			84,918
State		(248	)		3,289			4,612
Effect of federal tax law change		5,229			—			—

Total deferred benefit		13,847			5,877			89,530

Total benefit for income taxes	$	11,855		$	1,467		$	92,662

Summary of Taxability of Cash Distributions Paid on Common Shares

The estimated taxability of cash distributions to common shareholders is as follows (per common share):


	2015		2014		2013
Ordinary income	$	2.50	$	2.30	$	1.39
Capital gains		0.23		0.17		0.02
Return of capital		—		—		0.09

	$	2.73	$	2.47	$	1.50

Differences Between the Income Tax (Provision) Benefit Calculated at the Statutory U.S. Federal Income Tax Rate of 35% and the Actual Income Tax Benefit Recorded for Continuing Operations

The differences between the income tax provision calculated at the statutory U.S. federal income tax rate of 35% and the actual income tax benefit recorded for continuing operations are as follows (amounts in thousands):


	2015			2014			2013
Statutory federal income tax provision	$	(34,774	)	$	(43,750	)	$	(9,035	)
Adjustment for nontaxable income of the REIT		34,904			44,701			32,642
State taxes (net of federal tax benefit and change in valuation allowance)		(1,477	)		950			3,216
Permanent items		(165	)		(160	)		1,092
Federal tax credits		—			112			—
Federal valuation allowance		8,271			(853	)		(3,509	)
Unrecognized tax benefits		—			—			6,261
REIT conversion		—			—			62,063
Effect of federal tax law change		5,229			—			—
Other		(133	)		467			(68	)

	$	11,855		$	1,467		$	92,662

Components of Company's Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities at December 31 are as follows (amounts in thousands):


	2015			2014
DEFERRED TAX ASSETS:
Accounting reserves and accruals	$	21,174		$	22,023
Defined benefit plan		8,389			7,285
Deferred management rights proceeds		70,483			70,887
Federal and State net operating loss carryforwards		44,932			47,156
Tax credits and other carryforwards		569			1,016
Other assets		7,917			7,953

Total deferred tax assets		153,464			156,320
Valuation allowance		(88,309	)		(98,445	)

Total deferred tax assets, net of valuation allowance		65,155			57,875

DEFERRED TAX LIABILITIES:
Property and equipment, net		63,289			68,047
Goodwill and other intangibles		1,236			1,727
Other liabilities		1,793			2,385

Total deferred tax liabilities		66,318			72,159

Net deferred tax liabilities	$	1,163		$	14,284

Reconciliation of Beginning and Ending Gross Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending gross amount of unrecognized tax benefits (exclusive of interest and penalties) for 2013 is as follows:


	2013
Unrecognized tax benefits - January 1, 2013	$	13,162
Reductions due to settlements with taxing authorities		(12,327	)
Reductions due to expiration of certain statute of limitations		(835	)

Unrecognized tax benefits - December 31, 2013	$	—