Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

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, 2015, 2014 and 2013 is summarized as follows:

	2015			2014			2013
Current:
Federal	$	—		$	145		$	(1,445	)
State and local	(645		)	(1,130		)	(1,593		)
NOL utilized	—			—			586
Deferred:
Federal	59			(91		)	(595		)
State and local	18			(33		)	(130		)
	$	(568	)	$	(1,109	)	$	(3,177	)

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:

	2015			2014			2013
Federal provision at statutory tax rate (34%)	$	65		$	(43	)	$	164
State and local taxes, net of federal benefit	12			(9		)	22
Other	(645		)	(1,057		)	(3,363		)
	$	(568	)	$	(1,109	)	$	(3,177	)

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, 2015, is as follows:

	2015			2014			2013
Total dividends per share	$	0.68		$	0.67		$	0.60
Ordinary income	63.07		%	49.44		%	35.53		%
Qualifying dividend	—			0.05		%	4.11		%
Capital gain	—			—			2.09		%
Return of capital	36.93		%	50.51		%	58.27		%
	100.00		%	100.00		%	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, 2015, is as follows:

	2015			2014			2013
Total dividends per share	$	3.25		$	3.25		$	3.25
Ordinary income	100.00		%	99.90		%	85.14		%
Qualifying dividend	—			0.10		%	9.85		%
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, 2015, is as follows:

	2015		2014		2013
Total dividends per share	$	—	$	—	$	1.043368
Ordinary income	—		—		85.14		%
Qualifying dividend	—		—		9.85		%
Capital gain	—		—		5.01		%
Return of capital	—		—		—		%
	—		—		100.00		%