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Note 10 - Income Taxes Level 3 (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense [Table Text Block]

The components of our consolidated income tax provision from continuing operations are as follows:

	Year Ended December 31,
(In thousands)	2017				2016				2015
Current provision	$	59,122			$	4,546			$	120
Deferred provision	166,527				170,887				156,170
Total income tax provision	$	225,649			$	175,433			$	156,290

Reconciliation of Taxes at Statutory Rate to Provision (Benefit) for Income Taxes [Table Text Block]

The reconciliation of taxes computed at the statutory tax rate of 35% to the provision for income taxes on continuing operations is as follows:

	Year Ended December 31,
(In thousands)	2017				2016				2015
Provision for income taxes computed at the statutory tax rate	$	121,358			$	169,290			$	153,240
Change in tax resulting from:
Repurchase premium on convertible notes	(96		)		9,988				(6,674		)
State tax (benefit)	(15,641		)		(8,974		)		(7,619		)
Valuation allowance	18,197				10,663				11,931
Remeasurement of net deferred tax assets due to the TCJA	102,617				—				—
Other, net	(786		)		(5,534		)		5,412
Provision for income taxes	$	225,649			$	175,433			$	156,290

Schedule of Components of Deferred Tax Assets and Liabilities [Table Text Block]

The significant components of our net deferred tax assets and liabilities from continuing operations are summarized as follows:

	December 31,
(In thousands)	2017				2016
Deferred tax assets:
Accrued expenses	$	30,267			$	41,219
Unearned premiums	35,035				67,538
NOL	—				179,128
Net unrealized loss on investments	—				6,285
State income taxes	68,577				51,875
Partnership investments	47,991				73,918
Loss reserves	1,397				3,801
Alternative minimum tax credit carryforward	57,086				7,367
Goodwill and Intangibles	36,947				—
Other	41,499				49,511
Total deferred tax assets	318,799				480,642
Deferred tax liabilities:
Convertible and other long-term debt	—				2,212
Differences in fair value of financial instruments	3,833				1,758
Net unrealized gain on investments	6,792				—
Depreciation	11,138				10,626
Goodwill and Intangibles	—				4,758
Other	2,446				2,598
Total deferred tax liabilities	24,209				21,952
Less: Valuation allowance	65,023				46,892
Net deferred tax asset	$	229,567			$	411,798

Summary of Income Tax Contingencies [Table Text Block]

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

	Year Ended December 31,
(In thousands)	2017				2016
Balance at beginning of period	$	123,028			$	124,246
Tax positions related to the current year:
Increases	2,343				1,203
Decreases	—				(1,835		)
Tax positions related to prior years:
Increases	24,122				22,389
Decreases	(1,437		)		(1,406		)
Lapses of applicable statute of limitation	(24,105		)		(21,569		)
Balance at end of period	$	123,951			$	123,028

Summary of Income Tax Examinations [Table Text Block]

The following calendar tax years, listed by major jurisdiction, remain subject to examination:

U.S. Federal Corporation Income Tax (1)	2000 - 2007, 2014 - 2016
Significant State and Local Jurisdictions (2)	2000 - 2016

______________________

(1) For the 2000 through 2007 calendar tax years, we petitioned the U.S. Tax Court to litigate the IRS Notices of Deficiency resulting from the examination of our 2000 through 2007 consolidated federal income tax returns. This litigation relates to the recognition of certain tax benefits associated with our investment in a portfolio of non-economic REMIC residual interests.

(2) California, Florida, Georgia, New York, Ohio, Pennsylvania and New York City.

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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