Income Taxes - (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of (Loss) Income before Income Tax, Domestic and Foreign

The components of loss from continuing operations before income taxes and equity in earnings (losses) of joint venture for the years ended December 31, 2016, 2015 and 2014 were as follows:



	2016			2015			2014
Domestic	$	(104,524	)	$	(201,375	)	$	(122,511	)
Non-U.S.	(7,935		)	(33,550		)	(30,841		)

Schedule of Components of Income Tax (Benefit) Expense

The provision (benefit) for income taxes for the years ending December 31, 2016, 2015 and 2014 consisted of the following components:



	2016			2015			2014
Federal
current	$	—		$	—		$	—
deferred	(4,231		)	(21,700		)	(25,023		)
State
current	25			70			32
deferred	(114		)	(927		)	(3,959		)
Foreign
current	1,783			2,149			(1,898		)
deferred	(9		)	(3,162		)	7,905
	$	(2,546	)	$	(23,570	)	$	(22,943	)

Schedule of Effective Income Tax Rate Reconciliation



	2016			2015			2014
Federal income tax at statutory rates	$	(39,361	)	$	(82,226	)	$	(53,673	)
State income taxes, net of federal income tax benefits	(5,118		)	(8,784		)	(651		)
Permanent items:
Section 956 inclusions	13,132			—			—
Convertible debt – non-deductible	3,024			—			—
Goodwill impairment	—			—			10,454
Other permanent differences	2,719			2,369			285
Federal and state income tax on joint venture	(1,660		)	(558		)	2,912
Rate differential on foreign income	795			3,305			11,512
Valuation allowance	23,746			63,511			4,888
Audit settlements	—			171			99
Other	177			(1,358		)	1,231
Income tax (benefit)	$	(2,546	)	$	(23,570	)	$	(22,943	)
Effective income tax (benefit) rate	2.3		%	10.0		%	15.0		%

Schedule of Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and liabilities of December 31, 2016 and 2015 are as follows:



	2016			2015
Deferred tax assets:
Pension and postretirement benefits	$	809		$	4,139
Deferred compensation	595			1,357
Restructuring related and other reserves	4			842
Alternative minimum tax and net operating loss carryforward	91,769			66,709
Intangible assets and goodwill	11,647			5,993
Other, net	2,818			3,399
Deferred tax assets before valuation allowance	107,642			82,439
Valuation allowance	(79,908		)	(63,955		)
Total deferred tax assets	$	27,734		$	18,484
Deferred tax liabilities:
Depreciation	$	5,006		$	8,147
Inventory	20,172			6,071
Convertible debt discount	1,883			4,075
Other, net	292			3,982
Total deferred tax liabilities	27,353			22,275
Net deferred tax assets (liabilities)	$	381		$	(3,791	)

Summary of Operating Loss Carryforwards

As of December 31, 2016, the Company had $197,930 of federal and $232,759 of state net operating loss carryforwards which will begin expiring in 2032 and 2017, respectively, $2,010 of federal credits which will carry forward for an indefinite period and $546 of state credit carryforwards which will begin expiring in 2024. The future utilization of a portion of the Company’s federal and state net operating losses is expected to be limited by IRC Section 382 due to ownership changes in 2016 and 2015; however, at this time that amount has not been quantified. As of December 31, 2016, the Company had $39,934 of foreign net operating loss carryforwards, of which a significant portion carry forward for an indefinite period.

The Company continues to maintain valuation allowances against substantially all U.S. and foreign deferred tax assets to reduce those deferred tax assets to amounts that are realizable either through future reversals of existing taxable temporary differences or through taxable income in carryback years for the applicable jurisdictions.

Summary of Valuation Allowance [Table Text Block]

Activity in the Company's valuation allowances for the U.S. and non-U.S. operations were as follows for the years ended December 31, 2016, 2015 and 2014:



	2016			2015			2014
Domestic
Balance, beginning of year	$	55,474		$	—		$	—
Provision charged to expense	18,906			55,474			—
Provision charged to discontinued operations and other comprehensive income	(4,697		)	—			—
Balance, end of year	$	69,683		$	55,474		$	—
Foreign
Balance, beginning of year	$	8,481		$	4,888		$	—
Impact of foreign exchange on beginning of year balance	(702		)	(553		)	—
Provision charged to expense	2,446			4,146			4,888
Balance, end of year	$	10,225		$	8,481		$	4,888