Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Taxes

Schedule of income tax benefit (expense)

	Year ended December 31,
	2019		2018		2017
	(in millions)
Current tax (expense) benefit
Federal	$	—	$	8.8	$	(5.7)
State		2.8		(1.0)		(11.9)
Total Current		2.8		7.8		(17.6)
Deferred tax (expense) benefit
Federal		(8.1)		44.8		179.6
State		3.8		12.5		(3.7)
Total Deferred		(4.3)		57.3		175.9
Income tax (expense) benefit, net	$	(1.5)	$	65.1	$	158.3

Schedule of reconciliation of income tax provision computed at statutory tax rates to effective tax rate

	Year ended December 31,
	2019		2018		2017
	(in millions)
Statutory federal income taxes	$	(8.0)	$	32.0	$	(9.5)
State income taxes		(2.1)		11.9		(1.6)
Uncertain tax positions		3.7		(0.1)		(3.2)
Tax status & tax rate change		0.9		1.3		4.0
Other true-ups		0.8		1.0		1.2
Equity compensation		(0.3)		(1.9)		—
Other permanent differences		(0.4)		(0.3)		(0.5)
Goodwill impairment		—		(11.2)		(35.1)
Corporate Tax Reform		—		—		103.4
Change in valuation allowance		3.9		32.4		99.6
Income tax benefit, net	$	(1.5)	$	65.1	$	158.3

Schedule of components of deferred tax assets and deferred tax liabilities

	December 31,
	2019		2018
	(in millions)
Non-current deferred income tax (assets) liabilities:
Allowances and other reserves	$	(6.8)	$	(7.1)
Net operating loss carryforwards		(203.7)		(172.8)
Depreciation and amortization		183.9		140.5
Franchise operating rights		202.0		204.7
Interest hedging		(4.8)		—
Debt issuance costs		2.5		3.2
State income tax		(0.9)		(1.9)
Other		(6.4)		(4.1)
Valuation allowance		26.7		30.4
Total net deferred tax liabilities	$	192.5	$	192.9

Schedule of reconciliation of unrecognized tax benefits

	Year ended December 31,
	2019		2018		2017
	(in millions)
Unrecognized tax benefits—January 1st	$	28.0	$	30.9	$	31.5
Gross increases—tax positions in prior period		—		—		3.8
Gross decreases—tax positions in prior period		(12.8)		(2.9)		(2.6)
Gross increases—tax positions in current period		—		—		14.2
Settlements		(3.8)		—		(1.2)
Gross change related to Tax Reform		—		—		(14.8)
Unrecognized tax benefits—December 31st	$	11.4	$	28.0	$	30.9