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Income Taxes and Deferred Tax Asset/Liability
 12 Months Ended
Dec. 31, 2011
Income Taxes and Deferred Tax Asset/Liability [Abstract]  
Income Taxes and Deferred Tax Asset/Liability
11.  Income Taxes and Deferred Tax Asset/Liability
 
The Company and its subsidiaries file U.S. federal and various U.S. state income tax returns. The Company's 2007 through 2009 U.S. federal income tax returns are currently being examined by the I.R.S.; however, management expects there will be no material change in our financial position or results of operations as a result of this examination.  The Company's policy is to recognize interest related to any underpayment of taxes as interest expense, and penalties as administrative expenses. No interest or penalties have been accrued at December 31, 2011, and interest and penalties for the years ended December 31, 2011, 2010 and 2009 were not significant.
 
Current income tax expense represents federal tax as well as state franchise and income tax paid or expected to be payable for the years shown in the statements of operations.
 
The income tax expense (benefit) in the accompanying consolidated financial statements consists of the following (in thousands):
 
   
Year Ended December 31,
 
   
2011
  
2010
 
2009
 
Current tax expense
 $1,639  $6,410  $7,785 
Deferred tax expense (benefit)
  (18,651)  3,860   4,482 
Total tax expense (benefit)
 $(17,012) $10,270  $12,267 
 
Deferred tax assets and liabilities consist of the following (in thousands):
 
   
As of December 31,
 
   
2011
  
2010
 
   
Current
  
Long Term
  
Current
  
Long Term
 
Assets related to:
            
Accrued compensation and other
 $1,302  $--  $82  $-- 
Amortization and impairment of goodwill
  --   15,900   --   -- 
Depreciation of property and equipment
  --   (14,040 )  --   -- 
Accreted interest to put
  --   587   --   -- 
Contingency on lawsuit
  --   391   --   -- 
Noncontrolling interest
  --   (1,720 )  --   -- 
Other
  --   (290 )  --   -- 
                  
Liabilities related to:
                
Amortization of goodwill
  --   --   --   (4,473 )
Depreciation of property and equipment
  --   --   --   (15,068 )
Accreted interest to put
  --   --   --   551 
Contingency on lawsuit
  --   --   --   321 
Other
  --   --   --   78 
Net asset (liability)
 $1,302  $828  $82  $(18,591)
 
The long-term deferred tax asset of $828,000 as of December 31, 2011 is included in “Other assets, net” in the accompanying consolidated balance sheet.
 
The income tax provision (benefit) differs from the amount using the statutory federal income tax rate of 35% for the following reasons (amounts in thousands):
 
   
Years Ended December 31,
 
   
2011
  
2010
  
2009
 
   
Amount
  
%
  
Amount
  
%
  
Amount
  
%
 
Tax expense (benefit)  at the U.S. federal statutory rate
 $(18,101)  35.0 % $12,773   35.0 % $13,228   35.0 %
State franchise and income tax based on income, net of refunds and federal benefits
  (573 )  1.1   879   2.4   233   0.6 
Taxes on subsidiaries' and joint ventures' earnings allocated to noncontrolling interests owners
  (444 )  0.9   (2,498 )  (6.8 )  (638 )  (1.7 )
Tax benefits of Domestic Production Activities Deduction
  (202 )  0.4   (500 )  (1.4 )  (563 )  (1.5 )
Impairment associated with goodwill that is not amortizable for tax
  2,603   (5.0 )  --   --   --   -- 
Non-taxable interest income
  (376 )  0.7   (494 )  (1.4 )  (23 )  -- 
Other permanent differences
  81   (0.2 )  110   0.3   30   0.1 
Income tax expense (benefit)
 $(17,012)  32.9 % $10,270   28.1 %  12,267   32.5 %
 
As a result of the Company's detailed analysis, management has determined that the Company does not have any material uncertain tax positions.