XML 85 R53.htm IDEA: XBRL DOCUMENT v3.3.1.900
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2015
Income Tax Disclosure [Abstract]  
Schedule of Reconciliation of Benefit from Income Taxes
The following table presents the reconciliation of the benefit from income taxes with the amount computed by applying the statutory federal income tax rate to loss before income taxes for the years ended December 31, 2015, 2014 and 2013 (in thousands):
 
 
Year Ended December 31,
 
 
2015
 
2014
 
2013
Consolidated loss before taxes
 
$
(359,795
)
 
 
 
$
(1,044,176
)
 
 
 
$
(505,620
)
 
 
Loss from non-taxable entities
 
128,545

 
 
 
714,508

 
 
 
505,620

 
 
Loss attributable to taxable subsidiaries before income taxes
 
(231,250
)
 
 
 
(329,668
)
 
 
 
—

 
 
Federal provision at statutory rate
 
(80,938
)
 
35.0
 %
 
(115,384
)
 
35.0
 %
 
—

 
—
%
State income taxes and other
 
(7,813
)
 
3.4
 %
 
(3,266
)
 
1.0
 %
 
—

 
—
%
Impairment of goodwill
 
48,879

 
(21.1
)%
 
78,073

 
(23.7
)%
 
—

 
—
%
Total benefit from Cole Capital income taxes
 
$
(39,872
)
 
17.3
 %
 
$
(40,577
)
 
12.3
 %
 
$
—

 
—
%
REI state income taxes
 
3,569

 
 
 
7,313

 
 
 
2,195

 
 
Total (benefit from) provision for income taxes
 
$
(36,303
)
 
 
 
$
(33,264
)
 
 
 
$
2,195

 
 
Schedule of Components of the Benefit from Income Taxes
he following table presents the components of the (benefit from) provision for income taxes for the years ended December 31, 2015, 2014 and 2013 (in thousands):
 
 
Year Ended December 31,
 
 
2015
 
2014
 
2013
Current
 
 
 
 
 
 
Federal
 
$
10,122

 
$
(6,306
)
 
$
—

State
 
2,248

 
(947
)
 
—

Total current provision (benefit)
 
12,370

 
(7,253
)
 
—

Deferred
 
 
 
 
 
 
Federal
 
(45,416
)
 
(28,968
)
 
—

State
 
(6,826
)
 
(4,356
)
 
—

Total deferred benefit
 
(52,242
)
 
(33,324
)
 
—

 
 
 
 
 
 
 
REI state income taxes
 
3,569

 
7,313

 
2,195

 
 
 
 
 
 
 
Total (benefit from) provision for from income taxes
 
$
(36,303
)
 
$
(33,264
)
 
$
2,195
Schedule of Net Deferred Tax Assets (Liabilities)
The components of the net deferred tax assets (liabilities) as of December 31, 2015 and December 31, 2014, which are included in the accompanying consolidated balance sheet, are as follows (in thousands):
 
 
As of December 31,
 
 
2015
 
2014
Intangible assets
 
$
(17,943
)
 
$
(55,910
)
Accrued compensation
 
6,251

 
4,038

Fixed assets
 
(5,192
)
 
(5,513
)
Program development costs
 
13,310

 
5,014

Equity-based compensation
 
4,700

 
1,965

Other
 
1,030

 
320

Total net deferred tax asset (liability)
 
$
2,156

 
$
(50,086
)