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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2016
Income Taxes [Abstract]  
Schedule Of Income (Loss) Before Income Tax Expense

(Dollars in thousands)

 

2016

 

2015(1)

 

2014(1)

United States

 

$

(1,886)

 

$

3,826 

 

$

3,271 

Foreign

 

 

14,324 

 

 

23,149 

 

 

12,067 

Income before income taxes and equity earnings of unconsolidated joint ventures

 

$

12,438 

 

$

26,975 

 

$

15,338 

Equity earnings of unconsolidated joint ventures:

 

 

 

 

 

 

 

 

 

United States

 

 

--

 

 

--

 

 

--

Foreign

 

 

999 

 

 

1,204 

 

 

1,015 

Income before income taxes

 

$

13,437 

 

$

28,179 

 

$

16,353 



(1) 2015 and 2014 balances included the restatement impact as a result of a change in accounting principle (see Note 2 – Summary of Significant Accounting Policies – Accounting Changes).

Schedule Of Significant Components Of Provision For Income Taxe

(Dollars in thousands)

 

2016

 

2015(1)

 

2014(1)

Current income tax expense

 

 

 

 

 

 

 

 

 

Federal

 

$

2,982 

 

$

481 

 

$

827 

State

 

 

675 

 

 

516 

 

 

511 

Foreign

 

 

4,685 

 

 

3,120 

 

 

1,251 

Total

 

 

8,342 

 

 

4,117 

 

 

2,589 

Deferred income tax expense (benefit)

 

 

 

 

 

 

 

 

 

Federal

 

 

(4,197)

 

 

612 

 

 

(13,611)

State

 

 

(422)

 

 

(940)

 

 

(1,104)

Foreign

 

 

297 

 

 

1,359 

 

 

3,201 

Total

 

 

(4,322)

 

 

1,031 

 

 

(11,514)

Total income tax expense (benefit)

 

$

4,020 

 

$

5,148 

 

$

(8,925)



(1) 2015 and 2014 balances included the restatement impact as a result of a change in accounting principle (see Note 2 – Summary of Significant Accounting Policies – Accounting Changes).

Schedule Of Components Of Deferred Tax Assets And Liabilities

(Dollars in thousands)

 

December 31, 2016

 

December 31, 2015(1)

Deferred Tax Assets:

 

 

 

 

 

 

Net operating loss carry-forwards

 

$

11,940 

 

$

13,286 

Alternative minimum tax credit carry-forwards

 

 

1,690 

 

 

540 

Compensation and employee benefits

 

 

6,221 

 

 

5,531 

Deferred revenue  

 

 

5,486 

 

 

6,592 

Accrued expenses

 

 

7,134 

 

 

7,971 

Accrued taxes

 

 

3,381 

 

 

3,285 

Land and property

 

 

12,857 

 

 

11,264 

Other

 

 

995 

 

 

1,058 

Total Deferred Tax Assets

 

 

49,704 

 

 

49,527 

Deferred Tax Liabilities:

 

 

 

 

 

 

Intangibles

 

 

(1,482)

 

 

(2,321)

Cancellation of indebtedness

 

 

(1,559)

 

 

(2,396)

Notes receivable

 

 

(7,403)

 

 

(8,696)

Total Deferred Tax Liabilities

 

 

(10,444)

 

 

(13,413)

Net deferred tax assets before valuation allowance

 

 

39,260 

 

 

36,114 

Valuation allowance

 

 

(10,593)

 

 

(11,530)

Net deferred tax asset

 

$

28,667 

 

$

24,584 



(1) December 31, 2015 balances included the restatement impact as a result of a change in accounting principle (see Note 2 – Summary of Significant Accounting Policies – Accounting Changes)

Schedule Of Income Tax Reconciliation Items

(Dollars in thousands)

 

2016

 

2015(1)

 

2014(1)

Expected tax provision

 

$

4,566 

 

$

9,581 

 

$

5,739 

Increase (decrease) in tax expense resulting from:

 

 

 

 

 

 

 

 

 

Foreign tax rate differential

 

 

(648)

 

 

(654)

 

 

1,252 

Change in valuation allowance

 

 

129 

 

 

1,531 

 

 

(16,580)

Indefinite reinvestment assertion

 

 

--

 

 

(3,089)

 

 

--

State and local tax provision

 

 

307 

 

 

1,133 

 

 

461 

State rate and law change

 

 

--

 

 

(3,635)

 

 

--

Prior year adjustments

 

 

(954)

 

 

(514)

 

 

--

Unrecognized tax benefits

 

 

262 

 

 

946 

 

 

700 

Other

 

 

358 

 

 

(151)

 

 

(497)

Actual tax provision (benefit)

 

$

4,020 

 

$

5,148 

 

$

(8,925)



(1) 2015 and 2014 balances included the restatement impact as a result of a change in accounting principle (see Note 2 – Summary of Significant Accounting Policies – Accounting Changes)

Summary Of The Activity Related To Unrecognized Tax Benefits



 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

2016

 

2015

 

2014

Unrecognized tax benefits – gross beginning balance

 

$

11,022 

 

$

3,760 

 

$

2,160 

Gross increases – prior period tax provisions

 

 

133 

 

 

6,679 

 

 

1,600 

Gross increases – current period tax positions

 

 

325 

 

 

583 

 

 

--

Unrecognized tax benefits – gross ending balance

 

$

11,480 

 

$

11,022 

 

$

3,760