|
Income Taxes (Tables)
|
12 Months Ended |
|
Dec. 31, 2012
|
| Income Taxes |
|
| Schedule of components of income before income taxes |
|
|
|
For the Years Ended December 31, |
|
|
|
|
2012 |
|
2011 |
|
2010 |
|
|
|
|
(In thousands) |
|
|
Domestic |
|
$ |
172,612 |
|
$ |
290 |
|
$ |
284,501 |
|
|
Foreign |
|
22,072 |
|
25,485 |
|
4,272 |
|
|
Total income before income taxes |
|
$ |
194,684 |
|
$ |
25,775 |
|
$ |
288,773 |
|
|
| Schedule of components of the benefit (provision) for income taxes |
|
|
|
For the Years Ended December 31, |
|
|
|
|
2012 |
|
2011 |
|
2010 |
|
|
|
|
(In thousands) |
|
|
Current benefit (provision): |
|
|
|
|
|
|
|
|
Federal |
|
$ |
21,086 |
|
$ |
(26,450 |
) |
$ |
21,542 |
|
|
State |
|
1,943 |
|
(291 |
) |
(579 |
) |
|
Foreign |
|
(7,775 |
) |
(3,734 |
) |
(1,809 |
) |
|
Total current benefit (provision) |
|
15,254 |
|
(30,475 |
) |
19,154 |
|
|
Deferred benefit (provision): |
|
|
|
|
|
|
|
|
Federal |
|
7,841 |
|
(464 |
) |
(96,976 |
) |
|
State |
|
(6,720 |
) |
9,438 |
|
(6,593 |
) |
|
Foreign |
|
(46 |
) |
— |
|
— |
|
|
Total deferred benefit (provision) |
|
1,075 |
|
8,974 |
|
(103,569 |
) |
|
Total income tax benefit (provision), net |
|
$ |
16,329 |
|
$ |
(21,501 |
) |
$ |
(84,415 |
) |
|
| Schedule of income tax rate reconciliation |
|
|
|
For the Years Ended December 31, |
|
|
|
|
2012 |
|
2011 |
|
2010 |
|
|
Statutory rate |
|
(35.0 |
)% |
(35.0 |
)% |
(35.0 |
)% |
|
State income taxes, net of Federal benefit |
|
(0.8 |
)% |
4.8 |
% |
(1.9 |
)% |
|
Dividend received deduction |
|
1.8 |
% |
— |
|
— |
|
|
Decrease (increase) in valuation allowance |
|
39.0 |
% |
(50.4 |
)% |
2.0 |
% |
|
Stock write-off |
|
— |
|
— |
|
2.0 |
% |
|
Other |
|
3.4 |
% |
(2.8 |
)% |
3.7 |
% |
|
Total income tax benefit (provision), net |
|
8.4 |
% |
(83.4 |
)% |
(29.2 |
)% |
|
| Schedule of deferred tax assets and liabilities |
|
|
|
As of December 31, |
|
|
|
|
2012 |
|
2011 |
|
|
|
|
(In thousands) |
|
|
Deferred tax assets: |
|
|
|
|
|
|
Net operating losses, credit and other carryforwards |
|
$ |
461,931 |
|
$ |
138,169 |
|
|
Unrealized losses on investments, net |
|
14,757 |
|
8,614 |
|
|
Accrued expenses |
|
26,438 |
|
23,421 |
|
|
Stock-based compensation |
|
14,942 |
|
15,659 |
|
|
Other asset |
|
3,076 |
|
— |
|
|
Total deferred tax assets |
|
521,144 |
|
185,863 |
|
|
Valuation allowance |
|
(69,224 |
) |
(35,729 |
) |
|
Deferred tax assets after valuation allowance |
|
451,920 |
|
150,134 |
|
|
|
|
|
|
|
|
|
Deferred tax liabilities: |
|
|
|
|
|
|
Depreciation and amortization |
|
(798,878 |
) |
(492,207 |
) |
|
Other liabilities |
|
(1,682 |
) |
(7,826 |
) |
|
Total deferred tax liabilities |
|
(800,560 |
) |
(500,033 |
) |
|
Total net deferred tax liabilities |
|
$ |
(348,640 |
) |
$ |
(349,899 |
) |
|
|
|
|
|
|
|
|
Current portion of net deferred tax assets |
|
$ |
23,317 |
|
$ |
23,492 |
|
|
Noncurrent portion of net deferred tax liabilities |
|
(371,957 |
) |
(373,391 |
) |
|
Total net deferred tax liabilities |
|
$ |
(348,640 |
) |
$ |
(349,899 |
) |
|
| Schedule of reconciliation of unrecognized tax benefits |
|
|
|
For the Years Ended December 31, |
|
|
Unrecognized tax benefit |
|
2012 |
|
2011 |
|
2010 |
|
|
|
|
(In thousands) |
|
|
Balance as of beginning of period |
|
$ |
48,874 |
|
$ |
29,999 |
|
$ |
14,559 |
|
|
Additions from Hughes Acquisition |
|
— |
|
3,119 |
|
— |
|
|
Additions based on tax positions related to the current year |
|
158 |
|
— |
|
— |
|
|
Additions based on tax positions related to prior years |
|
3,723 |
|
16,630 |
|
15,440 |
|
|
Reductions based on tax positions related to prior years |
|
(855 |
) |
(874 |
) |
— |
|
|
Reductions based on tax settlements |
|
(16,587 |
) |
— |
|
— |
|
|
Reductions based on expirations of statute of limitations |
|
(636 |
) |
— |
|
— |
|
|
Balance as of end of period |
|
$ |
34,677 |
|
$ |
48,874 |
|
$ |
29,999 |
|