Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Components Of Deferred Tax Assets And Liabilities

The components of the Company’s deferred tax assets and liabilities as of December 31, 2015 and 2014 were as follows (dollars in thousands):



	As of December 31,
	2015			2014
Deferred tax assets:
Deferred finish-out allowances from lessors	$	226		$	157
Tax over book accrual of pawn loan fees and service charges	4,903			4,752
Allowance for consumer loan losses	1,768			1,778
Deferred compensation	12,941			8,524
Deferred state credits and net operating losses	2,334			1,358
Other	1,540			2,548
Total deferred tax assets	23,712			19,117
Deferred tax liabilities:
Amortizable intangible assets	$	54,264		$	46,551
Property and equipment	23,694			32,359
Investment in equity securities	7,828			39,294
Other	1,156			1,165
Total deferred tax liabilities	86,942			119,369
Net deferred tax liabilities before valuation allowance	$	(63,230	)	$	(100,252	)
Valuation allowance	(1,142		)	—
Net deferred tax liabilities after valuation allowance	$	(64,372	)	(100,252		)
Balance sheet classification:
Current deferred tax assets (liabilities)	$	7,672		$	(27,820	)
Noncurrent deferred tax liabilities	(72,044		)	(72,432		)
Net deferred tax liabilities	$	(64,372	)	$	(100,252	)

Components Of Provision For Income Taxes

The components of the provision for income taxes and the income to which it relates for the years ended December 31, 2015, 2014 and 2013, were as follows (dollars in thousands):



	Year Ended December 31,
	2015			2014			2013
Income (loss) from continuing operations before income taxes:
Domestic	$	43,044		$	(7,938	)	$	47,475
Foreign	—			(408		)	(3,490		)
Income (loss) from continuing operations before income taxes	43,044			(8,346		)	43,985
Current provision (benefit):
Federal	$	19,741		$	(12,823	)	$	(20,908	)
Foreign	—			531			(752		)
State and local	118			1,291			2,098
Total current provision (benefit) for income taxes	19,859			(11,001		)	(19,562		)
Deferred (benefit) provision:
Federal	$	(4,524	)	$	12,962		$	3,740
State and local	143			80			317
Total deferred (benefit) provision for income taxes	(4,381		)	13,042			4,057
Total provision (benefit) for income taxes	$	15,478		$	2,041		$	(15,505	)

Schedule of Income Tax Expense(benefit) Continuing and Discontinued Operations [Table Text Block]

Income tax expense included in the Company’s income (loss) from continuing and discontinued operations, respectively, is as follows (dollars in thousands):



	Year Ended December 31,
	2015		2014		2013
Continuing operations	$	15,478	$	2,041	$	(15,505	)
Discontinued operations	—		62,933		46,259
Total	$	15,478	$	64,974	$	30,754

Reconciliation Of Effective Tax Rate

A reconciliation of income taxes for continuing operations with amounts computed at the statutory federal rate is as follows (dollars in thousands):



	Year Ended December 31,
	2015			2014			2013
Tax provision (benefit) computed at the federal statutory income tax rate	$	15,063		$	(2,922	)	$	15,396
State and local income taxes, net of federal tax benefits	(973		)	818			1,883
Nondeductible lobbying	111			639			553
Foreign tax difference	(1		)	216			(221		)
Investment in subsidiaries ^(a)	—			—			(23,907		)
Valuation allowance	1,142			(11,266		)	(8,915		)
Non-recoverable foreign net deferred tax assets	—			12,042			—
Non-deductible goodwill	—			2,232			—
Tax effect of Regulatory Penalty^(b)	—			—			895
Change in reserve for uncertain tax benefits, net	—			—			(1,021		)
Other	136			282			(168		)
Total provision (benefit)	$	15,478		$	2,041		$	(15,505	)
Effective tax rate	36.0		%	(24.5		)%	(35.3		)%


^(a)	Relates to the Creazione Deduction for the year ended December 31, 2013.


^(b)	Represents the tax effect of the $2.5 million penalty paid to the CFPB, which is nondeductible for tax purposes, in connection with the Regulatory Penalty. See Note 13.

Aggregate Change In Balance Of Unrecognized Tax Benefits

The aggregate change in the balance of the unrecognized tax benefits for the years ended December 31, 2015, 2014 and 2013 is summarized below (dollars in thousands):



	2015		2014		2013
Balance as of January 1,	$	—	$	—	$	1,021
Decrease due to lapse of statute of limitations	—		—		(1,021		)
Balance as of December 31,	$	—	$	—	$	—