Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of the Company’s provision for income taxes for the years ended December 31, 2016, 2015 and 2014 are presented below (amounts in thousands).

	2016			2015			2014
Current:
Federal	$	(12	)	$	(29	)	$	10
State		1,173			665			120
Local		739			557			55
Total current		1,900			1,193			185
Deferred:
Federal		12,881			(68,103	)		846
State		(1,448	)		(2,691	)		711
Local		(89	)		21			26
Total deferred		11,344			(70,773	)		1,583
Income tax (benefit) expense	$	13,244		$	(69,580	)	$	1,768

Schedule of Effective Income Tax Rate Reconciliation

The following is a reconciliation of the statutory federal income tax rate (benefit) to the Company’s effective tax rate for the years ended December 31, 2016, 2015 and 2014:

	2016				2015				2014
Federal statutory rate		35.0		%		35.0		%		(35.0	)	%
State and local taxes		4.3		%		1.0		%		(4.4	)	%
State tax rate adjustment		—		%		(3.3	)	%		—		%
Stock compensation		(2.0	)	%		—		%		—		%
Permanent items		1.5		%		0.4		%		3.6		%
Valuation allowance		(3.6	)	%		(180.5	)	%		77.3		%
Minority interest		0.1		%		0.2		%		1.2		%
Change in tax status		—		%		18.2		%		(28.0	)	%
Non-taxable gain on fair value adjustment		—		%		(27.9	)	%		—		%
Credits		(1.8	)	%		(1.0	)	%		(1.1	)	%
Other		1.3		%		1.9		%		0.5		%
Provision (benefit) for income taxes		34.8		%		(156.0	)	%		14.1		%

Schedule of Deferred Tax Assets and Liabilities

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s net deferred taxes related to continuing operations at December 31, 2016 and 2015 are as follows (amounts in thousands):

	2016			2015
Deferred tax assets:
Loss carryforwards	$	38,377		$	48,722
Accrued expenses		7,748			7,134
Fixed assets		6,327			8,697
Debt		9,991			11,611
Credit carryforwards		2,576			1,378
Stock-based compensation		1,216			701
Other		51			599
		66,286			78,842
Deferred tax liabilities:
Identified intangibles		(143,823	)		(145,053	)
Investment in partnerships		(2,742	)		(2,008	)
Prepaid expenses		(2,804	)		(1,906	)
Other		(100	)		(97	)
		(149,469	)		(149,064	)
Valuation allowance		(7,202	)		(8,575	)
Net deferred tax liabilities	$	(90,385	)	$	(78,797	)