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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Provision for Income Taxes for Continuing Operations - (Benefit) Expense | The provision for income taxes for continuing operations - (benefit) expense consists of the following:
|  | Year Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
|  | (In thousands) |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 43,655 |  |  | $ | 36,241 |  |  | $ | 36,874 |
State |  |  | 3,766 |  |  |  | 6,414 |  |  |  | 5,771 |
Total current |  |  | 47,421 |  |  |  | 42,655 |  |  |  | 42,645 |
Deferred |  |  | 13,275 |  |  |  | 14,410 |  |  |  | 20,523 |
Total provision for income taxes for continuing operations - (benefit) expense |  | $ | 60,696 |  |  | $ | 57,065 |  |  | $ | 63,168 |
Reconciliation of Statutory Federal Income Tax Rate with Federal and State Overall Effective Income Tax Rate from Continuing Operations | The reconciliation of the statutory federal income tax rate with Sonic’s federal and state overall effective income tax rate from continuing operations is as follows:
|  | Year Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Statutory federal income tax rate |  |  | 35.00 | % |  |  | 35.00 | % |  |  | 35.00 | %
Effective state income tax rate |  |  | 2.04 | % |  |  | 3.26 | % |  |  | 3.15 | %
Valuation allowance adjustments |  |  | 0.85 | % |  |  | (0.45 | %) |  |  | (0.14 | %)
Uncertain tax positions |  |  | 0.17 | % |  |  | (0.14 | %) |  |  | (0.08 | %)
Other |  |  | 1.05 | % |  |  | 1.64 | % |  |  | 1.13 | %
Effective income tax rate |  |  | 39.11 | % |  |  | 39.31 | % |  |  | 39.06 | %
Components of Deferred Tax Assets and Liabilities | Significant components of Sonic’s deferred tax assets and liabilities are as follows:
|  | December 31, 2016 |  |  | December 31, 2015 |
|  | (In thousands) |
Deferred tax assets: |  |  |  |  |  |  |  |
Accruals and reserves |  | $ | 34,884 |  |  | $ | 33,397 |
State net operating loss carryforwards |  |  | 10,777 |  |  |  | 10,187 |
Fair value of interest rate swaps |  |  | 1,406 |  |  |  | 3,793 |
Interest and state taxes associated with the liability for uncertain income tax positions |  |  | 1,746 |  |  |  | 1,725 |
Other |  |  | 774 |  |  |  | 864 |
Total deferred tax assets |  |  | 49,587 |  |  |  | 49,966 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Basis difference in inventory |  |  | (1,506 | ) |  |  | (1,530 | )
Basis difference in property and equipment |  |  | (9,335 | ) |  |  | (9,850 | )
Basis difference in goodwill |  |  | (101,999 | ) |  |  | (86,504 | )
Other |  |  | (3,540 | ) |  |  | (3,249 | )
Total deferred tax liability |  |  | (116,380 | ) |  |  | (101,133 | )
Valuation allowance |  |  | (7,211 | ) |  |  | (5,880 | )
Net deferred tax asset (liability) |  | $ | (74,004 | ) |  | $ | (57,047 | )
Summary of Changes in Liability Related to Unrecognized Tax Benefits | A summary of the changes in the liability related to Sonic’s unrecognized tax benefits is presented below.
|  | 2016 |  |  | 2015 |  |  | 2014 |
|  | (In thousands) |
Unrecognized tax benefit liability, January 1 (1) |  | $ | 4,755 |  |  | $ | 5,740 |  |  | $ | 6,693 |
Prior period positions: |  |  |  |  |  |  |  |  |  |  |  |
Increases |  |  | 939 |  |  |  | 175 |  |  |  | 181 |
Decreases |  |  | (415 | ) |  |  | - |  |  |  | (66 | )
Increases from current period positions |  |  | 615 |  |  |  | 184 |  |  |  | 195 |
Settlements |  |  | - |  |  |  | - |  |  |  | (897 | )
Lapse of statute of limitations |  |  | (1,290 | ) |  |  | (1,114 | ) |  |  | (170 | )
Other |  |  | (247 | ) |  |  | (230 | ) |  |  | (196 | )
Unrecognized tax benefit liability, December 31 (2) |  | $ | 4,357 |  |  | $ | 4,755 |  |  | $ | 5,740 |
(1) | Excludes accrued interest and penalties of $1.1 million, $1.2 million and $1.1 million at January 1, 2016, 2015 and 2014, respectively.
(2) | Excludes accrued interest and penalties of $0.8 million, $1.1 million and $1.2 million at December 31, 2016, 2015 and 2014, respectively. Amount presented is net of state net operating losses of $0.3 million, $0.6 million and $0.8 million at December 31, 2016, 2015 and 2014, respectively.

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