INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2013

INCOME TAXES

Schedule of components of income tax expense

	For the Year Ended
(In thousands)	2013		2012		2011
Current:
Federal	$	1,381	$	340	$	4,118
State	86		1,078		477
Total current expense (benefit)	1,467		1,418		4,595
Deferred:
Federal	15,929		1,998		8,209
State	116		(2,755)		337
Total deferred expense (benefit)	16,045		(757)		8,546
Total income tax expense	$	17,512	$	661	$	13,141

Schedule of reconciliation of the federal statutory tax rate to the effective tax rate

	Year Ended December 31,
(In percentages)	2013	2012	2011
Statutory federal income tax rate	35.0	35.0	35.0
State income taxes, net of federal benefit	1.7	(12.8)	0.5
Transaction costs	–	14.9	–
Other permanent differences	–	(1.1)	(0.9)
Change in uncertain tax positions	(1.7)	–	(0.7)
Change in deferred tax rate	–	(19.7)	1.1
Provision to return	1.3	(4.2)	–
Other	0.6	(0.4)	0.1
	36.9	11.7	35.1

Schedule of components of the net deferred tax liability

	Year Ended December 31,
(In thousands)	2013		2012
Current deferred tax assets:
Reserve for uncollectible accounts	$	615	$	1,815
Accrued vacation pay deducted when paid	2,196		1,727
Accrued expenses and deferred revenue	5,149		5,458
	7,960		9,000
Non-current deferred tax assets:
Net operating loss carryforwards	18,809		32,506
Pension and postretirement obligations	28,072		60,252
Stock-based compensation	495		450
Derivative instruments	1,004		3,004
Financing costs	1,503		567
Tax credit carryforwards	3,143		2,437
Other	-		305
	53,026		99,521
Valuation allowance	(535)		(535)
Net non-current deferred tax assets	52,491		98,986
Non-current deferred tax liabilities:
Goodwill and other intangibles	(28,515)		(27,376)
Basis in investment	(38)		(120)
Partnership investments	(25,523)		(26,413)
Property, plant and equipment	(178,274)		(182,578)
	(232,350)		(236,487)
Net non-current deferred taxes	(179,859)		(137,501)
Net deferred income tax liabilities	$	(171,899)	$	(128,501)

Schedule of reconciliation of the unrecognized tax benefits

	Liability for
	Unrecognized
	Tax Benefits
(In thousands)	2013		2012
Balance at January 1	$	1,224	$	1,224
Additions for tax positions in the current year	–		–
Additions for tax positions of prior years	–		–
Settlements with taxing authorities	–		–
Reduction for lapse of federal statute of limitations	–		–
Reduction for lapse of state statute of limitations	(1,224)		–
Balance at December 31	$	-	$	1,224