Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The Company's provision for income taxes for the years ended December 31, 2014, 2013 and 2012 is summarized as follows:

	2014			2013			2012
Current:
Federal	$	145		$	(1,445	)	$	(371	)
State and local	(1,130		)	(1,593		)	(1,082		)
NOL utilized	—			586			401
Deferred:
Federal	(91		)	(595		)	141
State and local	(33		)	(130		)	45
	$	(1,109	)	$	(3,177	)	$	(866	)

Statutory Accounting Practices Disclosure

The income tax provision differs from the amount computed by applying the statutory federal income tax rate to pre-tax operating income as follows:

	2014			2013			2012
Federal provision at statutory tax rate (34%)	$	(43	)	$	164		$	(573	)
State and local taxes, net of federal benefit	(9		)	22			(110		)
Other	(1,057		)	(3,363		)	(183		)
	$	(1,109	)	$	(3,177	)	$	(866	)

Summary of Average Taxable Nature of Dividends

A summary of the average taxable nature of the Company's common dividends for each of the years in the three-year period ended December 31, 2014, is as follows:

	2014			2013			2012
Total dividends per share	$	0.67		$	0.60		$	0.525
Ordinary income	49.44		%	35.53		%	95.68		%
Qualifying dividend	0.05		%	4.11		%	0.99		%
Capital gain	—			2.09		%	—
Return of capital	50.51		%	58.27		%	3.33		%
	100.00		%	100.00		%	100.00		%

A summary of the average taxable nature of the Company's dividend on shares of its Series B Cumulative Redeemable Preferred Stock for each of the years in the three-year period ended December 31, 2014, is as follows:

	2014		2013		2012
Total dividends per share	$	—	$	—	$	1.341667
Ordinary income	—		—		98.98		%
Qualifying dividend	—		—		1.02		%
Capital gain	—		—		—
Return of capital	—		—		—
	—		—		100.00		%

A summary of the average taxable nature of the Company's dividend on shares of its Series C Preferred for each of the years in the three-year period ended December 31, 2014, is as follows:

	2014			2013			2012
Total dividends per share	$	3.25		$	3.25		$	3.25
Ordinary income	99.90		%	85.14		%	98.98		%
Qualifying dividend	0.10		%	9.85		%	1.02		%
Capital gain	—			5.01		%	—
Return of capital	—			—			—
	100.00		%	100.00		%	100.00		%

A summary of the average taxable nature of the Company's dividend on shares of its Series D Cumulative Redeemable Preferred Stock for the years in the three-year period ended December 31, 2014, is as follows:

	2014		2013			2012
Total dividends per share	$	—	$	1.043368		$	1.8875
Ordinary income	—		85.14		%	98.98		%
Qualifying dividend	—		9.85		%	1.02		%
Capital gain	—		5.01		%	—
Return of capital	—		—			—
	—		100.00		%	100.00		%