Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Schedule Of Income Before Income Tax, Domestic and Foreign

Income (loss) before income tax expense (benefit) and equity in earnings (losses) of 50% or less owned companies derived from U.S. and foreign companies for the years ended December 31 were as follows (in thousands):



	2017		2016			2015
United States	$	28,546	$	(93,145	)	$	(1,785	)
Foreign	4,748		(1,105		)	(934		)
Eliminations and other	1,911		2,014			968
	$	35,205	$	(92,236	)	$	(1,751	)

Components Of Income Tax Expense (Benefit)

The Company files a consolidated U.S. federal tax return. The components of income tax expense (benefit) for the years ended December 31 were as follows (in thousands):



	2017			2016			2015
Current:
State	$	1,136		$	4,830		$	1,772
Federal	(17,181		)	6,998			19,518
Foreign	333			379			63
	(15,712		)	12,207			21,353
Deferred:
State	12			(2,280		)	(1,674		)
Federal	(51,489		)	(46,652		)	(19,429		)
	(51,477		)	(48,932		)	(21,103		)
	$	(67,189	)	$	(36,725	)	$	250

Components Of Effective Income Tax Rate Reconciliation

The following table reconciles the difference between the statutory federal income tax rate for the Company and the effective income tax rate for the years ended December 31:



	2017		2016		2015
Statutory rate	35.0	%	35.0	%	35.0	%
Income subject to tonnage tax	(5.9	)%	—	%	—	%
Dorian distribution	22.8	%	—	%	—	%
Reversal of uncertain tax position	(28.7	)%	—	%	—	%
U.S. federal income tax statutory changes	(190.2	)%	—	%	—	%
Non-deductible expenses	0.8	%	1.0	%	8.2	%
Noncontrolling interests	(22.4	)%	6.3	%	11.4	%
Losses of foreign subsidiaries not benefited	(6.6	)%	(1.4	)%	(92.8	)%
State taxes	1.2	%	(0.9	)%	29.9	%
Share award plans	2.0	%	—	%	(5.5	)%
Other	1.1	%	(0.2	)%	(0.5	)%
	(190.9	)%	39.8	%	(14.3	)%

Components Of The Net Deferred Income Tax Liabilities

The components of the net deferred income tax liabilities for the years ended December 31 were as follows (in thousands):



	2017			2016
Deferred tax liabilities:
Property and equipment	$	92,127		$	153,214
Long-term debt	22,519			44,782
Unremitted earnings of foreign subsidiaries	—			179
Investments in 50% or less owned companies	811			1,346
Intangible assets	1,006			1,908
Other	96			138
Total deferred tax liabilities	116,559			201,567
Deferred tax assets:
Share award plans	3,476			7,952
Losses on marketable securities	5,986			17,758
Deductible goodwill	312			1,611
Debt and equity issuance costs	406			7,638
Other	11,652			12,767
Total deferred tax assets	21,832			47,726
Valuation allowance	(6,695		)	(3,600		)
Net deferred tax assets	15,137			44,126
Net deferred tax liabilities	$	101,422		$	157,441