Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

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:

	2015		2014		2013
	(In thousands)
Income before income taxes, equity in earnings in affiliates, and discontinued operations
United States	$	130,752	$	145,656	$	71,667
Foreign	10,419		6,454		13,480
	141,171		152,110		85,147
Discontinued operations:
Loss from operation of discontinued business	—		—		(2,265		)
Income before income taxes, equity in earnings in affiliates and discontinued operations	$	141,171	$	152,110	$	82,882

Components of taxes on income (loss)

axes consists of the following components:

	2015			2014			2013
	(In thousands)
Continuing Operations:
Federal income taxes:
Current	$	3,437		$	12,393		$	(26,841	)
Deferred	(1,924		)	(5,393		)	(4,449		)
	1,513			7,000			(31,290		)
State income taxes:
Current	683			4,302			2,294
Deferred	684			(1,422		)	(1,221		)
	1,367			2,880			1,073
Foreign income taxes:
Current	5,643			7,753			4,445
Deferred	(1,134		)	(3,540		)	(278		)
	4,509			4,213			4,167
Total U.S. and foreign provision (benefit) for income taxes	$	7,389		$	14,093		$	(26,050	)

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:

	2015			2014			2013
	(In thousands)
Continuing operations:
Provisions using statutory federal income tax rate	$	49,410		$	53,239		$	29,801
State income taxes (benefit), net of federal tax benefit	(322		)	2,510			1,104
REIT Benefit	(42,536		)	(44,538		)	(34,454		)
Impact of REIT election	—			—			(14,946		)
Change in contingent tax liabilities	(395		)	(576		)	(5,701		)
Change in valuation allowance	3,702			664			(802		)
Other, net	(2,470		)	2,794			(1,052		)
Total provision (benefit) for income taxes	$	7,389		$	14,093		$	(26,050	)

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, 2015 and 2014:

	2015			2014
	(In thousands)
Deferred tax assets - current	$	27,914		$	25,884
Deferred tax liabilities - current (1)	(47		)	(12		)
Deferred tax assets - non current	7,399			5,873
Deferred tax liabilities - non current	(11,471		)	(10,068		)
Total net deferred tax assets	$	23,795		$	21,677

(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, 2015 and 2014:

	2015			2014
Deferred tax assets:	(In thousands)
Net operating losses	$	24,992		$	22,402
Accrued liabilities	26,524			23,720
Deferred compensation	12,362			11,531
Accrued compensation	5,920			5,554
Deferred revenue	5,692			5,861
Deferred rent	3,921			4,313
Tax credits	4,670			3,414
Equity awards	5,031			3,559
Valuation allowance	(17,069		)	(13,368		)
Total deferred tax assets	$	72,043		$	66,986
Deferred tax liabilities:
Intangible assets	$	(44,067	)	$	(41,242	)
Depreciation	(2,511		)	(3,389		)
Other	(1,670		)	(678		)
Total deferred tax liabilities	$	(48,248	)	$	(45,309	)
Total net deferred tax assets	$	23,795		$	21,677

Reconciliation of unrecognized tax benefits

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

	2015			2014			2013
	(In thousands)
Balance at Beginning of Period	$	2,076		$	2,766		$	18,499
Additions for tax positions of prior years	—			—			1,543
Reductions as a result of a lapse of applicable statutes of limitations	(505		)	(690		)	(1,298		)
Settlements	—			—			(15,978		)
Balance at End of Period	$	1,571		$	2,076		$	2,766