Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Taxes

Schedule of income tax benefit (expense)

	Year ended December 31,
	2020		2019		2018
	(in millions)
Current tax (expense) benefit
Federal	$	—	$	—	$	8.8
State		(2.5)		2.8		(1.0)
Total current tax		(2.5)		2.8		7.8
Deferred tax (expense) benefit
Federal		(1.9)		(8.1)		44.8
State		(3.4)		3.8		12.5
Total deferred tax		(5.3)		(4.3)		57.3
Income tax (expense) benefit, net	$	(7.8)	$	(1.5)	$	65.1

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

	Year ended December 31,
	2020		2019		2018
	(in millions)
Statutory federal income taxes	$	(4.7)	$	(8.0)	$	32.0
State income taxes		0.2		(2.1)		11.9
Tax status & tax rate change		0.8		0.9		1.3
Other true-ups		(2.4)		0.8		1.0
Equity compensation		(1.0)		(0.3)		(1.9)
Other permanent differences		(0.4)		(0.4)		(0.3)
Goodwill impairment		—		—		(11.2)
Research and development tax credits		2.2		—		—
Uncertain tax positions		(0.2)		3.7		(0.1)
Change in valuation allowance		(2.3)		3.9		32.4
Income tax (expense) benefit, net	$	(7.8)	$	(1.5)	$	65.1

Schedule of components of deferred tax assets and deferred tax liabilities

	December 31,
	2020		2019
	(in millions)
Deferred tax assets
Allowances and other reserves	$	6.3	$	6.8
Net operating loss carryforwards		223.1		203.7
Research and development tax credits		4.1		—
Interest hedging		2.0		4.8
Other		1.4		7.1
Total deferred tax assets		236.9		222.4
Less: valuation allowance		(30.8)		(26.5)
Deferred tax asset	$	206.1	$	195.9
Deferred tax liabilities
Depreciation and amortization	$	(206.3)	$	(183.9)
Franchise operating rights		(198.6)		(202.0)
Debt issuance costs		(1.8)		(2.5)
Total deferred tax liabilities		(406.7)		(388.4)
Net deferred tax liabilities	$	(200.6)	$	(192.5)

Schedule of reconciliation of unrecognized tax benefits

	Year ended December 31,
	2020		2019		2018
	(in millions)
Unrecognized tax benefits—January 1st	$	11.4	$	28.0	$	30.9
Gross increases—tax positions in prior period		0.7		—		—
Gross decreases—tax positions in prior period		—		(12.8)		(2.9)
Gross increases—tax positions in current period		1.6		—		—
Settlements		—		(3.8)		—
Unrecognized tax benefits—December 31st	$	13.7	$	11.4	$	28.0