Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Income (loss) before income taxes and equity income

The United States and foreign components of income before income taxes, equity in earnings in affiliates, and discontinued operations are as follows:

	2014		2013			2012
	(In thousands)
Income before income taxes, equity in earnings in affiliates, and discontinued operations
United States	$	145,656	$	71,667		$	91,048
Foreign	6,454		13,480			9,370
	152,110		85,147			100,418
Discontinued operations:
Loss from operation of discontinued business	—		(2,265		)	(18,465		)
Income before income taxes, equity in earnings in affiliates and discontinued operations	$	152,110	$	82,882		$	81,953

Components of taxes on income (loss)

axes consists of the following components:

	2014			2013			2012
	(In thousands)
Continuing Operations:
Federal income taxes:
Current	$	12,393		$	(26,841	)	$	36,631
Deferred	(5,393		)	(4,449		)	(78,275		)
	7,000			(31,290		)	(41,644		)
State income taxes:
Current	4,302			2,294			5,020
Deferred	(1,422		)	(1,221		)	(8,770		)
	2,880			1,073			(3,750		)
Foreign income taxes:
Current	7,753			4,445			5,497
Deferred	(3,540		)	(278		)	(665		)
	4,213			4,167			4,832
Total U.S. and foreign provision (benefit) for income taxes from continuing operations	14,093			(26,050		)	(40,562		)
Discontinued operations:
Tax (benefit) provision allocated to discontinued operations	—			—			(7,805		)
Total U.S. and foreign provision (benefit) for income taxes	$	14,093		$	(26,050	)	$	(48,367	)

Reconciliation of the statutory U.S. federal tax rate (35.0%) and the effective income tax rate

A reconciliation of the statutory U.S. federal tax rate of 35.00% and the effective income tax rate is as follows:

	2014			2013			2012
	(In thousands)
Continuing operations:
Provisions using statutory federal income tax rate	$	53,239		$	29,801		$	35,147
State income taxes, net of federal tax benefit	2,510			1,104			4,291
REIT Benefit	(44,538		)	(34,454		)	—
Impact of REIT election	—			(14,946		)	(79,033		)
Change in contingent tax liabilities	(576		)	(5,701		)	—
Reenactment of Federal Tax Credits	—			(1,084		)	—
Other, net	3,458			(770		)	(967		)
Total provision (benefit) for income taxes from continuing operations	14,093			(26,050		)	(40,562		)
Discontinued operations:
Tax benefit from operations of discontinued business	—			—			(7,805		)
Total provision (benefit) for income taxes	$	14,093		$	(26,050	)	$	(48,367	)

Components of deferred tax assets and liabilities

The following table presents the breakdown between current and non-current net deferred tax assets as of December 31, 2014 and 2013:

	2014			2013
	(In thousands)
Deferred tax assets - current	$	25,884		$	20,936
Deferred tax liabilities - current (1)	(12		)	—
Deferred tax assets - non current	5,873			4,821
Deferred tax liabilities - non current	(10,068		)	(14,689		)
Total net deferred tax assets	$	21,677		$	11,068

(1) Deferred tax liabilities - current is included in Accrued Expenses and Other Current Liabilities in the accompanying consolidated balance sheet.

The significant components of the Company's deferred tax assets and liabilities consisted of the following as of December 31, 2014 and 2013:

	2014			2013
Deferred tax assets:	(In thousands)
Net operating losses	$	22,402		$	22,461
Accrued liabilities	23,720			18,879
Deferred compensation	11,531			8,604
Accrued compensation	5,554			5,736
Deferred revenue	5,861			5,523
Deferred rent	4,313			5,264
Tax credits	3,414			4,326
Equity awards	3,559			3,822
Other, net	—			309
Valuation allowance	(13,368		)	(12,704		)
Total deferred tax assets	$	66,986		$	62,220
Deferred tax liabilities:
Intangible assets	$	(41,242	)	$	(43,699	)
Depreciation	(3,389		)	(7,453		)
Other	(678		)	—
Total deferred tax liabilities	$	(45,309	)	$	(51,152	)
Total net deferred tax assets	$	21,677		$	11,068

Reconciliation of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2014			2013			2012
	(In thousands)
Balance at Beginning of Period	$	2,766		$	18,499		$	6,528
Additions based on tax positions related to the current year	—			—			2,437
Additions for tax positions of prior years	—			1,543			13,356
Reductions as a result of a lapse of applicable statutes of limitations	(690		)	(1,298		)	(592		)
Settlements	—			(15,978		)	(3,230		)
Balance at End of Period	$	2,076		$	2,766		$	18,499