Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Components of Income Tax Expense (Benefit)

The table below sets forth income tax expense (benefit) for 2012, 2011 and 2010:



	2012			2011			2010
Current
Federal	$	—		$	2,961		$	—
State	1,366			1,432			817
Total current	1,366			4,393			817
Deferred
Federal	108			313			(41,882		)
State	406			526			(5,997		)
Total deferred	514			839			(47,879		)
Valuation allowance	(148		)	(221		)	39,487
Total income tax expense (benefit)	$	1,732		$	5,011		$	(7,575	)

Schedule of Effective Income Tax Rate Reconciliation

The table below sets forth income tax expense (benefit) for 2012, 2011 and 2010 computed by applying the applicable United States federal income tax rate and is reconciled to the tax expense (benefit) computed at the effective income tax rate:



	2012			2011			2010
Computed expected income tax expense (benefit)	$	753		$	(2,073	)	$	(46,134	)
State income tax (net of federal benefit)	1,154			1,668			(3,367		)
Federal and state provision to return	—			—			1,704
2006 - 2008 Belo IRS audit adjustment	—			2,961			—
2009 net operating loss carryback - Belo Corp.	—			—			414
Meals and entertainment	243			—			—
Valuation allowance	(148		)	(221		)	39,487
Compensation limitation	124			618			—
Equity compensation	(355		)	—			—
Belo Investment, LLC asset distribution	—			2,033			—
Other	(39		)	25			321
Income tax expense (benefit)	$	1,732		$	5,011		$	(7,575	)
Effective income tax rate	80.5		%	(84.6		)%	(5.7		)%

Schedule of Deferred Tax Assets and Liabilities

The table below sets forth the significant components of the Company’s deferred tax liabilities and assets:



	December 31,
	2012			2011
Deferred tax assets
Deferred compensation and benefits	$	4,899		$	4,889
Expenses deductible for tax purposes in a year different from the year accrued	1,876			3,672
Defined benefit plans	43,920			50,868
Net operating loss	24,778			19,647
Other	4,157			3,577
Total deferred tax assets	79,630			82,653
Valuation allowance for deferred tax assets	(67,589		)	(64,996		)
Deferred tax assets, net	12,041			17,657
Deferred tax liabilities
Tax amortization in excess of book amortization	5,887			7,928
Tax depreciation in excess of book depreciation	1,081			4,759
State taxes	2,464			2,138
Total deferred tax liabilities	9,432			14,825
Net deferred tax assets	$	2,609		$	2,832

Schedule of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns Roll Forward

The table below sets forth a reconciliation of the beginning and ending amount of unrecognized tax benefit:



	2012			2011
Balance at January 1	$	333		$	342
Reductions for tax positions of prior years	(9		)	(9		)
Balance at December 31	$	324		$	333

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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