XML 98 R27.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2014
Income Taxes |
Summary of Income (Loss) Before Taxes |
|  | U.S. |  | Foreign |  |  |
Year ended December 31, 2014 |  | Operations |  | Operations |  | Total
|  | (in thousands)
2014 |  | $ | 170,517 |  |  | 16,921 |  |  | 187,438
2013 |  | $ | 127,682 |  | $ | 11,933 |  | $ | 139,615
2012 |  | $ | (271,683) |  | $ | 3,841 |  | $ | (267,842)
(Benefit) Provision for Income Taxes |
|  | Year ended December 31,
|  | 2014 |  | 2013 |  | 2012
|  | (in thousands)
Current expense: |  |  |  |  |  |  |  |  |
Federal |  | $ | 45,074 |  | $ | 29,034 |  | $ | 19,573
State |  |  | 11,174 |  |  | 9,018 |  |  | 3,508
Foreign |  |  | 3,203 |  |  | 4,256 |  |  | 1,542
Total current |  |  | 59,451 |  |  | 42,308 |  |  | 24,623
Deferred (benefit) expense: |  |  |  |  |  |  |  |  |
Federal |  |  | 9,992 |  |  | 9,547 |  |  | (28,157)
State |  |  | 10,059 |  |  | 577 |  |  | 1,104
Foreign |  |  | — |  |  | (113) |  |  | (12)
Total deferred |  |  | 20,051 |  |  | 10,011 |  |  | (27,065)
Total (benefit) provision |  | $ | 79,502 |  | $ | 52,319 |  | $ | (2,442)
Reconciliation of Provision (Benefit) for Income Taxes |
|  | 2014 |  | 2013 |  | 2012
|  | Amount |  | Rate |  | Amount |  | Rate |  | Amount |  | Rate
|  | (dollars in thousands)
Federal income expense (benefit) at statutory tax rate |  | $ | 65,603 |  | 35.0 | % |  | $ | 48,865 |  | 35.0 | % |  | $ | (93,745) |  | 35.0 | %
State income taxes, net of federal tax benefit |  |  | 10,367 |  | 5.5 |  |  |  | 6,236 |  | 4.5 |  |  |  | 3,214 |  | (1.2) |
Officers' compensation |  |  | 3,657 |  | 2.0 |  |  |  | 1,732 |  | 1.2 |  |  |  | 1,473 |  | (0.6) |
Domestic Production Activities Deduction |  |  | (5,170) |  | (2.8) |  |  |  | (3,641) |  | (2.6) |  |  |  | (2,246) |  | (2.4) |
Goodwill Impairment |  |  | — |  | — |  |  |  | — |  | — |  |  |  | 89,191 |  | (33.3) |
Impact of state tax rate changes on deferreds |  |  | 3,245 |  | 1.7 |  |  |  | — |  | — |  |  |  | — |  | — |
Other |  |  | 1,800 |  | 1.0 |  |  |  | (873) |  | (0.6) |  |  |  | (329) |  | 3.4 |
(Benefit) provision for income taxes |  | $ | 79,502 |  | 42.4 | % |  | $ | 52,319 |  | 37.5 | % |  | $ | (2,442) |  | 0.9 | %
Significant Components of Deferred Tax Assets and Liabilities | The following is a summary of the significant components of the deferred tax assets and liabilities:
|  | Year ended December 31,
|  | 2014 |  | 2013
|  | (in thousands)
Deferred Tax Assets |  |  |  |  |  |
Timing of expense recognition |  | $ | 47,017 |  | $ | 24,170
Net operating losses |  |  | 2,188 |  |  | 4,123
Other, net |  |  | 6,980 |  |  | 5,641
Deferred tax assets |  |  | 56,185 |  |  | 33,934
Valuation Allowance |  |  | (1,369) |  |  | (2,817)
Net deferred tax assets |  |  | 54,816 |  |  | 31,117
Deferred Tax Liabilities |  |  |  |  |  |
Intangible assets, due primarily to purchase accounting |  |  | (26,094) |  |  | (18,260)
Fixed assets, due primarily to purchase accounting |  |  | (90,886) |  |  | (79,243)
Construction contract accounting |  |  | (6,854) |  |  | (6,432)
Joint ventures - construction |  |  | (30,654) |  |  | (5,229)
Contested Legal Settlement |  |  | — |  |  | (12,012)
Other |  |  | (10,012) |  |  | (3,408)
Deferred tax liabilities |  |  | (164,500) |  |  | (124,584)
Net deferred tax liability |  | $ | (109,684) |  | $ | (93,467)
T h e n et d e f e rr ed tax lia b ili t y i s cla ss i f ied i n t h e C o ns o li d at e d B ala n ce S h eets b a s ed o n w h en t h e f u t u r e b e n e f it (e x p e ns e) is e x p ected to b e r e alized as f o ll o w s:
|  | December 31,
|  | 2014 |  | 2013
|  | (in thousands)
Current deferred tax asset |  | $ | 17,962 |  | $ | 8,240
Long-term deferred tax asset |  |  | 36,854 |  |  | 22,877
Current deferred tax liability |  |  | (14,129) |  |  | (10,251)
Long-term deferred tax liability |  |  | (150,371) |  |  | (114,333)
Net deferred tax liability |  | $ | (109,684) |  | $ | (93,467)
Reconciliation of Gross Unrecognized Tax Benefit |
Gross unrecognized tax benefit balance at January 1, 2012 |  | $ | 2,043
Add: |  |  |
Additions based on tax positions related to current year |  |  | 1,281
Additions/reductions for tax positions of prior years |  |  | 1,857
Less: |  |  |
Reductions for tax positions of prior years (expiration of statute of limitations) |  |  | (1,158)
Gross unrecognized tax benefit balance at December 31, 2012 |  | $ | 4,023
Gross unrecognized tax benefit balance at January 1, 2013 |  | $ | 4,023
Add: |  |  |
Additions based on tax positions related to current year |  |  | 1,254
Additions/reductions for tax positions of prior years |  |  | 182
Less: |  |  |
Reductions for tax positions of prior years (expiration of statute of limitations) |  |  | —
Gross unrecognized tax benefit balance at December 31, 2013 |  | $ | 5,459
Gross unrecognized tax benefit balance at January 1, 2014 |  | $ | 5,459
Add: |  |  |
Additions based on tax positions related to current year |  |  | 2,929
Additions/reductions for tax positions of prior years |  |  | 426
Less: |  |  |
Reductions for tax positions of prior years (expiration of statute of limitations) |  |  | (1,178)
Gross unrecognized tax benefit balance at December 31, 2014 |  | $ | 7,636

X
- Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=32707879&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=6907707&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration