Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Pre-tax book income (loss) for FY 2015, FY 2014 and FY 2013 were as follows:

	FY 2015			FY 2014 (Restated)		FY 2013 (Restated)
Domestic	$	(300,534	)	$	118,060	$	125,657
Foreign		16,260			49,050		41,230
Total pre-tax income (loss)	$	(284,274	)	$	167,110	$	166,887

Income Tax Provision (Benefit) for Federal, and State and Local Income Taxes

The income tax provision (benefit) for federal, and state and local income taxes in the consolidated statement of operations consists of the following:

	Year Ended December 31, 2015			Year Ended December 31, 2014 (Restated)		Year Ended December 31, 2013 (Restated)
Current:
Federal	$	6,927		$	1,511	$	8,817
State and local		3,765			1,500		1,524
Foreign		6,800			13,153		16,318
Total current	$	17,492		$	16,164	$	26,659
Deferred:
Federal		(110,705	)		27,705		21,870
State and local		(431	)		3,996		630
Foreign		(1,700	)		423		436
Total deferred		(112,836	)		32,124		22,936
Total provision (benefit)	$	(95,344	)	$	48,288	$	49,595

Significant Components of Net Deferred Tax Assets

The significant components of net deferred tax assets of the Company consist of the following:

	December 31,
	2015			2014 (Restated)
State net operating loss carryforwards	$	839		$	11,205
U.S. Federal net operating loss carryforwards		4,036			—
Receivable reserves		1,911			5,046
Hedging transaction		15,164			25,183
Intangibles		3,105			2,535
Equity compensation		6,013			14,858
Foreign Tax Credit		15,305			5,262
Other		44			2,096
Total deferred tax assets		46,417			66,185
Valuation allowance		—			(11,205	)
Net deferred tax assets	$	46,417		$	54,980
Trademarks, goodwill and other intangibles		(123,348	)		(236,867	)
Depreciation		(990	)		(1,055	)
Difference in cost basis of acquired intangibles		(49,670	)		(49,441	)
Convertible notes		(17,853	)		(28,003	)
Investment in joint ventures		(35,261	)		(28,841	)
Other accruals		(488	)		(427	)
Total deferred tax liabilities		(227,610	)		(344,634	)
Total net deferred tax liabilities	$	(181,193	)	$	(289,654	)
Balance Sheet detail on total net deferred tax assets (liabilities):
Current portion of net deferred tax assets	$	2,381		$	10,328
Non-current portion of net deferred tax liabilities	$	(183,574	)	$	(299,982	)

Rate Reconciliation Between Amount of Income Tax Provision (Benefit) at Federal Rate and Provision (Benefit) from Taxes on Income (Loss) Before Income Tax

The following is a rate reconciliation between the amount of income tax provision (benefit) at the Federal rate of 35% and provision (benefit) from taxes on income (loss) before income taxes:

	Year ended December, 31
	2015			2014 (Restated)			2013 (Restated)
Income tax provision (benefit) computed at the federal rate of 35%	$	(99,496	)	$	58,489		$	58,410
Increase (reduction) in income taxes resulting from:
State and local income taxes (benefit), net of federal income tax		6,337			3,090			991
Non-controlling interest		(938	)		(6,552	)		(5,809	)
Unrecognized tax benefits		6,985			—			—
Valuation allowance		(11,205	)		—			—
Non-deductible executive compensation		645			1,018			727
Foreign Earnings (rate differential)		349			(8,472	)		(4,998	)
Other, net		1,979			715			274
Total	$	(95,344	)	$	48,288		$	49,595

Reconciliation of Beginning and Ending Amount of Gross Unrecognized Tax Benefits Excluding Interest and Penalties

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits, excluding interest and penalties is as follows:

	FY 2015			FY 2014		FY 2013
Uncertain tax positions at January 1	$	1,180		$	1,180	$	1,180
Additions for current year tax positions		—		—		—
Additions for prior year tax positions		7,470		—		—
Reductions for prior year tax positions		—		—		—
Settlements		(1,180	)	—		—
Reductions due to lapse of applicable statute of limitation		—		—		—
Uncertain tax positions at December 31	$	7,470		$	1,180	$	1,180