Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Taxes

Schedule of Income Tax Expense (Benefit) from continuing operations

The total income tax (benefit) expense from continuing operations consists of the following components (in thousands):

	Year Ended December 31,
	2015		2014		2013
Current
Federal	$	4,948	$	1,833	$	130
State		2,784		2,773		2,195
Foreign		828		223		—
Total current	$	8,560	$	4,829	$	2,325
Deferred
Federal	$	(11,317)	$	(3,278)	$	3,045
State		(1,382)		(347)		445
Foreign		(4,872)		(954)		—
Total deferred	$	(17,571)	$	(4,579)	$	3,490
Total income tax (benefit) expense	$	(9,011)	$	250	$	5,815

Reconciliation of income tax expense at statutory rates to the actual income tax expense recorded

The following table reconciles the income tax expense at statutory rates to the actual income tax expense recorded (in thousands):

	Year Ended December 31,
	2015		2014		2013
Tax (benefit) expense at U.S. federal statutory income tax rate on income or loss subject to tax	$	(12,630)	$	(2,131)	$	3,582
State income tax expense, net of federal tax		93		764		928
Gross receipts and margin taxes		1,480		1,699		1,553
Foreign rate differential		2,269		554		—
Effect of permanent differences		(298)		(196)		(221)
Return to provision adjustments		(368)		(528)		(27)
Increase in valuation allowance		443		88		—
Total income tax (benefit) expense	$	(9,011)	$	250	$	5,815

Schedule of significant components of the company's deferred tax asset and liabilities

The significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands):

	December 31,
	2015		2014		2013
Investments and property, primarily differences in investment basis, depreciation and amortization, the basis of land assets, and the treatment of interest and certain costs	$	19,862	$	3,418	$	707
Net operating loss carryforward		3,703		484		749
Expense accruals and other		(753)		462		(4)
Valuation allowance		(531)		(88)		—
Net deferred tax assets	$	22,281	$	4,276	$	1,452

Reconciliation of unrecognized tax benefits

A reconciliation of the Company’s beginning and ending unrecognized tax benefits follows (in thousands):

	Amount
Balance at January 1, 2013	$	1,977
Reductions based on prior years’ tax positions		(890)
Additions based on 2013 tax positions		—
Balance at December 31, 2013		1,087
Reductions based on prior years’ tax positions		(1,087)
Additions based on 2014 tax positions		—
Balance at December 31, 2014	$	—