XML 68 R50.htm IDEA: XBRL DOCUMENT v3.22.4
INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Schedule of Effective Income Tax Rate Reconciliation Income tax expense (benefit) from continuing operations computed using the United States federal statutory rates is reconciled to the reported income tax expense (benefit) from continuing operations as follows:
Years Ended December 31,
202220212020
(amounts in thousands)
Federal statutory income tax rate21 %21 %21 %
Computed tax expense at federal statutory rates on income before income
taxes		$(37,999)$(800)$(68,602)
State income tax expense, net of federal benefit(6,666)(502)(18,538)
Goodwill impairment3,807 — — 
Valuation allowance current year activity— — — 
Tax impact of share-based awards832 626 1,424 
Transaction costs— 43 19 
Rate change related to NOL carryback— (2,353)— 
Nondeductible expenses and other(249)2,748 1,818 
Income taxes$(40,275)$(238)$(83,879)
Schedule of Components of Income Tax Income tax expense (benefit) for each year is summarized in the table below.
Years Ended December 31,
202220212020
Current:(amounts in thousands)
Federal$(5,746)$(15,135)$(5,542)
State2,622 934 (1,359)
Total current(3,124)(14,201)(6,901)
Deferred:
Federal(26,018)15,545 (54,886)
State(11,133)(1,582)(22,092)
Total deferred(37,151)13,963 (76,978)
Total income taxes (benefit)$(40,275)$(238)$(83,879)
Schedule of Deferred Tax Assets and Liabilities The components of deferred tax assets and liabilities as of December 31, 2022 and 2021, are as detailed below.
December 31,
20222021
(amounts in thousands)
Deferred tax assets:
Federal and state income tax loss carryforwards$71,349 $72,600 
Share-based compensation2,983 3,636 
Investments - impairments350 350 
Lease rental obligations3 2,232 
Deferred compensation6,489 8,756 
Interest Expense Limitation Carryforward34,525 13,580 
Debt fair value adjustment1,156 1,429 
Reserves551 551 
Lease liability63,335 68,512 
Employee benefits2,151 2,046 
Provision for doubtful accounts2,514 4,023 
Other non-current— 5,106 
Total deferred tax assets before valuation allowance185,406 182,821 
Valuation allowance(20,158)(21,249)
Total deferred tax assets$165,248 $161,572 
Deferred tax liabilities:
Lease ROU asset(56,283)(61,240)
Property, equipment and certain intangibles(48,159)(46,668)
Broadcasting licenses and goodwill(507,176)(541,329)
Other non-current(7,008)— 
Total deferred tax liabilities$(618,626)$(649,237)
Total net deferred tax liabilities$(453,378)$(487,665)
Summary of Valuation Allowance The following table presents the changes in the deferred tax asset valuation allowance for the periods indicated:
Year EndedBalance at
Beginning
of Year		Increase
(Decrease)
Charged
(Credited)
to Income
Taxes
(Benefit)		Increase
(Decrease)
Charged
(Credited)
to
Balance
Sheet		Purchase
Accounting		Balance At
End Of
Year
(amounts in thousands)
December 31, 2022$21,249 $(1,091)$— $— $20,158 
December 31, 202124,399 (3,151)— — 21,249 
December 31, 202025,440 (1,041)— — 24,399 
Schedule of Liabilities for Uncertain Tax The Company’s liabilities for uncertain tax positions are reflected in the following table:
December 31,
20222021
(amounts in thousands)
Liabilities for uncertain tax positions
Interest and penalties$(297)$156 
Total$(297)$156 
Schedule of Expense Income for Uncertain Tax Positions The following table presents the expense (income) for uncertain tax positions, which amounts were reflected in the consolidated statements of operations as an increase (decrease) to income tax expense:
Years Ended December 31,
202220212020
(amounts in thousands)
Interest and penalties (income)(297)156 868 
Total income taxes (benefit) from uncertain tax positions$(297)$156 $868 
Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible The following table presents the gross amount of changes in unrecognized tax benefits:
Years Ended December 31,
202220212020
(amounts in thousands)
Beginning of year balance$(6,204)$(6,488)$(6,719)
Prior year positions
Reductions due to statute lapse463 284 231 
End of year balance$(5,741)$(6,204)$(6,488)
Ending liability balance included above that was reflected as an offset to
deferred tax assets		$(5,741)$(6,204)$(6,488)
Schedule of Income Tax Payments and Refunds The following table provides the amount of income tax payments and income tax refunds for the periods indicated:
Years Ended December 31,
202220212020
(amounts in thousands)
Federal and state income tax payments (refunds)$(14,554)$(300)$2,724 
Summary of Operating Loss Carryforwards The NOLs in the following table reflect an estimate of the NOLs for the 2022 tax filing year as these returns will not be filed until later in 2023:
Net Operating Losses
December 31, 2022
NOLsNOL Expiration Period
(amounts in
thousands)		(in years)
Federal NOL carryforwards$224,007 2030 to indefinite
State NOL carryforwards$509,618 2022 to indefinite
Interest Expense limitation carryforward$129,446 Indefinite