Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Provision (Benefit) for Income Taxes

The provision (benefit) for income taxes from continuing operations for the years ended December 31, 2018, 2017 and 2016 (in millions):

	2018			2017			2016
Current
Federal (1)	$	0.2		$	(0.4	)	$	—
State		0.5			0.6			0.6
Foreign (1)		1.5			0.5			—
	$	2.2		$	0.7		$	0.6
Deferred
Federal		5.0			70.1			12.0
State		2.2			12.5			0.5
Foreign		(1.5	)		(0.7	)		—
		5.7			81.9			12.5
Total provision for taxes	$	7.9		$	82.6		$	13.1

(1) Amount reported as of and for the year ended December 31, 2017 has been revised. See Note 3.

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 21% to pre-tax income for the year ended December 31, 2018, and federal corporate income tax rate of 35% to pre-tax income for the years ended December 31, 2017 and 2016 due to the following (in millions):

	2018			2017			2016
Computed “expected” tax provision (benefit) (1)	$	4.5		$	90.3		$	11.7
Change in income tax resulting from:
State taxes, net of federal benefit		1.5			8.5			1.4
Change in fair value of earnout		0.4			—			—
Non-deductible executive compensation (1)		0.3			0.7			—
Change in federal tax rate		—			(17.3	)		—
Change in state tax rate		0.5			—			—
Stock compensation (1)		0.5			(1.0	)		—
Change in unrecognized tax benefits		(0.3	)		—			—
Other (1)		0.5			1.4			—
	$	7.9		$	82.6		$	13.1

(1) Amount reported as of and for the year ended December 31, 2017 has been revised. See Note 3.

Components of Deferred Tax Assets and Liabilities

The components of the deferred tax assets and liabilities at December 31, 2018 and 2017 consist of the following (in millions):

		2018			2017
Deferred tax assets:
Accrued expenses (1)	$	2.1		$	1.8
Accounts receivable (1)		0.6			0.6
Net operating loss carryforward		72.6			77.6
Stock-based compensation		1.4			0.9
Credits		0.2			0.7
Deferred state taxes		2.8			2.3
Other (1)		2.1			1.6
Net deferred tax assets	$	81.8		$	85.5
Deferred tax liabilities:
Intangible assets (1)	$	(70.1	)	$	(68.3	)
Property and equipment		(1.3	)		(0.2	)
Tax gain deferral - FCC auction for broadcast spectrum (1)		(57.1	)		(57.6	)
		(128.5	)		(126.1	)
	$	(46.7	)	$	(40.6	)

(1) Amount reported as of and for the year ended December 31, 2017 has been revised. See Note 3.

Unrecognized Tax Benefits

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

	Amount
Balance at December 31, 2016	$	6.3
Change in balances related to tax positions		0.0
Balance at December 31, 2017	$	6.3
Change in balances related to tax rate change		(0.3	)
Balance at December 31, 2018	$	6.0