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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

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,	2014		2013			2012
Federal:
Current	$	2,529	$	(1,298	)	$	10,410
Deferred	11,142		(18,606		)	9,518
Total federal	13,671		(19,904		)	19,928
State:
Current	1,897		1,592			4,689
Deferred	4,153		(951		)	(3,508		)
Total state	6,050		641			1,181
Total provision for (benefit from) income taxes	$	19,721	$	(19,263	)	$	21,109

Schedule of Effective Income Tax Rate Reconciliation

Following is a reconciliation of our provision for (benefit from) income taxes based on the Federal statutory tax rate to our effective tax rate (dollars in thousands):



Years Ended December 31,	2014					2013					2012
Federal statutory tax	$	19,459		35.0	%	$	(22,411	)	35.0	%	$	28,360		35.0	%
State taxes, net of federal tax benefit	5,420			9.7		101			(0.2	)	5,299			6.5
Valuation allowance release	—			—		—			—		(5,803		)	(7.2	)
Percentage depletion deduction	(1,217		)	(2.2	)	(787		)	1.2		(1,422		)	(1.8	)
Domestic production deduction	(2		)	—		(27		)	0.1		(1,367		)	(1.7	)
Non-controlling interests	(3,686		)	(6.6	)	2,920			(4.6	)	(5,124		)	(6.3	)
Nondeductible expenses	275			0.5		2,384			(3.7	)	1,918			2.4
Other	(528		)	(0.9	)	(1,443		)	2.3		(752		)	(0.8	)
Total	$	19,721		35.5	%	$	(19,263	)	30.1	%	$	21,109		26.1	%

Schedule of Deferred Tax Assets and Liabilities

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



December 31,	2014		2013
Current deferred tax assets, net	$	53,231	$	55,874
Long-term deferred tax liabilities, net	20,446		7,793
Net deferred tax assets	$	32,785	$	48,081

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



December 31,	2014			2013
Deferred tax assets:
Receivables	$	306		$	2,870
Inventory	3,579			4,637
Insurance	11,534			10,813
Deferred compensation	12,479			13,372
Other accrued liabilities	4,801			6,739
Contract income recognition	5,592			11,503
Impairments on real estate investments	11,329			14,313
Accrued compensation	7,524			7,206
Other	2,107			420
Net operating loss carryforward	8,665			4,439
Valuation allowance	(1,185		)	(3,731		)
Total deferred tax assets	66,731			72,581
Deferred tax liabilities:
Property and equipment	33,946			24,500
Total deferred tax liabilities	33,946			24,500
Net deferred tax assets	$	32,785		$	48,081

Summary of Valuation Allowance

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



December 31,	2014			2013			2012
Beginning balance	$	3,731		$	5,242		$	10,668
Deductions, net	(2,546		)	(1,511		)	(5,426		)
Ending balance	$	1,185		$	3,731		$	5,242

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,	2014			2013			2012
Beginning balance	$	2,231		$	2,315		$	2,339
Gross increases – current period tax positions	—			363			1,017
Gross decreases – current period tax positions	(282		)	(638		)	(800		)
Gross increases – prior period tax positions	—			508			4
Gross decreases – prior period tax positions	(2		)	(2		)	(245		)
Settlements with taxing authorities/lapse of statute of limitations	(1,060		)	(315		)	—
Ending balance	$	887		$	2,231		$	2,315

- 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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