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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Schedule of Components of Income Tax Expense (Benefit)

Following is a summary of the provision for (benefit from) income taxes (in thousands):



Years Ended December 31,	2011		2010			2009
Federal:
Current	$	11,136	$	(2,330	)	$	10,288
Deferred	7,914		(36,519		)	22,574
Total federal	19,050		(38,849		)	32,862
State:
Current	2,952		(1,071		)	5,381
Deferred	1,346		(4,008		)	407
Total state	4,298		(5,079		)	5,788
Total provision for (benefit from) income taxes	$	23,348	$	(43,928	)	$	38,650

Schedule of Effective Income Tax Rate Reconciliation

Following is detail of the provision for (benefit from) income taxes and a reconciliation of the statutory to effective tax rate (dollars in thousands):



Years Ended December 31,	2011					2010					2009
	Amount			Percent		Amount			Percent		Amount			Percent
Federal statutory tax	$	31,301		35.0		$	(37,232	)	35.0		$	48,598		35.0
State taxes, net of federal tax benefit	3,497			3.9		(4,500		)	4.2		3,978			2.7
Percentage depletion deduction	(1,254		)	(1.4	)	(997		)	0.9		(1,717		)	(1.2	)
Domestic production deduction	(1,604		)	(1.8	)	100			(0.1	)	(765		)	(0.6	)
Noncontrolling interests	(5,223		)	(5.8	)	1,213			(1.1	)	(9,345		)	(6.7	)
Settlements and effective settlements of audit issues	(2,348		)	(2.6	)	330			(0.3	)	—			—
Other	(1,021		)	(1.2	)	(2,842		)	2.7		(2,099		)	(1.4	)
Total	$	23,348		26.1		$	(43,928	)	41.3		$	38,650		27.8

Schedule of Deferred Tax Assets and Liabilities

The above amounts are reflected in the accompanying consolidated balance sheets as follows (in thousands):



December 31,	2011		2010
Current deferred tax assets, net	$	38,571	$	53,877
Long-term deferred tax liabilities, net	4,034		10,774
Net deferred tax assets	$	34,537	$	43,103

Following is a summary of the deferred tax assets and liabilities (in thousands):



December 31,	2011			2010
Deferred tax assets:
Receivables	$	2,929		$	3,145
Inventory	6,308			7,780
Insurance	7,142			3,775
Deferred compensation	16,485			19,848
Other accrued liabilities	9,244			9,888
Contract income recognition	4,253			15,679
Impairments on real estate investments	18,895			27,304
Other	4,906			1,145
Net operating loss carryforward	9,510			10,477
Valuation allowance	(10,668		)	(13,111		)
Total deferred tax assets	69,004			85,930
Deferred tax liabilities:
Property and equipment	34,467			42,827
Total deferred tax liabilities	34,467			42,827
Net deferred tax assets	$	34,537		$	43,103

Summary of Valuation Allowance

The following is a summary of the change in valuation allowance (in thousands):



December 31,	2011			2010		2009
Beginning balance	$	13,111		$	13,018	$	11,649
(Deductions) additions	(2,443		)	93		1,369
Ending balance	$	10,668		$	13,111	$	13,018

Summary of Income Tax Contingencies

The following is a tabular reconciliation of unrecognized tax benefits (in thousands) the balance of which is included in other long-term liabilities on the consolidated balance sheets:



December 31,	2011			2010			2009
Beginning balance	$	5,650		$	5,882		$	3,888
Gross increases – current period tax positions	1,726			180			1,107
Gross decreases – current period tax positions	(1,420		)	(453		)	(1,851		)
Gross increases – prior period tax positions	1,485			4,009			3,537
Gross decreases – prior period tax positions	(1,467		)	(1,641		)	(677		)
Settlements with taxing authorities/lapse of statute of limitations	(3,635		)	(2,327		)	(122		)
Ending balance	$	2,339		$	5,650		$	5,882

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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- Definition

Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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