Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

The provision (benefit) for income taxes from continuing operations for the years ended December 31, 2015, 2014 and 2013 (in millions):

	2015		2014		2013
Current
Federal	$	—	$	—	$	—
State		0.6		0.6		0.6
Foreign		—		0.1		0.2
		0.6		0.7		0.8
Deferred
Federal		12.8		15.0		(121.6	)
State		3.0		2.7		(13.3	)
		15.8		17.7		(134.9	)
Total provision for taxes	$	16.4	$	18.4	$	(134.1	)

Schedule of Effective Income Tax Rate

The income tax provision (benefit) differs from the amount of income tax determined by applying the Company’s federal corporate income tax rate of 35% to pre-tax income for the year ended December 31, 2015, and income tax rate of 34% to pre-tax income for the years ended December 31, 2014 and 2013 due to the following (in millions):

	2015			2014		2013
Computed “expected” tax provision (benefit)	$	14.7		$	15.5	$	(0.1	)
Change in income tax resulting from:
State taxes, net of federal benefit		2.5			2.1		(8.4	)
Foreign taxes		—			0.1		0.2
Change in valuation allowance		—			—		(126.0	)
Other		(0.8	)		0.7		0.2
	$	16.4		$	18.4	$	(134.1	)

Components of Deferred Tax Assets and Liabilities

The components of the deferred tax assets and liabilities at December 31, 2015 and 2014 consist of the following (in millions):

		2015			2014
Deferred tax assets:
Accrued expenses	$	3.2		$	4.4
Accounts receivable		1.2			1.2
Net operating loss carryforward		123.6			124.0
Stock-based compensation		2.1			3.6
Intangible assets		8.0			8.0
Credits		1.0			1.0
Property and equipment		0.3			-
Other		2.9			1.1
		142.3			143.3
Valuation allowance		(1.2	)		(1.4	)
Net deferred tax assets	$	141.1		$	141.9
Deferred tax liabilities:
Non-long lived intangible assets	$	(4.8	)	$	(4.8	)
Long-lived intangible assets		(77.7	)		(62.2	)
Property and equipment		-			(0.7	)
Deferred state taxes		(0.7	)		(1.7	)
		(83.2	)		(69.4	)
	$	57.9		$	72.5

Unrecognized Tax Benefits

The following table summarizes the activity related to the Company’s unrecognized tax benefits (in millions):

	Amount
Balance at December 31, 2013	$	6.4
Change in balances related to tax positions		—
Balance at December 31, 2014	$	6.4
Change in balances related to tax positions		(0.1	)
Balance at December 31, 2015	$	6.3