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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2012

Components of Pretax Income

The components of pretax income for the years ended December 31, 2012, 2011 and 2010 are as follows:

		For the Year Ended December 31,
		2012				2011				2010
		(Dollars in thousands)
U.S		$	(198,893	)		$	23,409			$	223,124
Foreign			17,181				20,070				19,494
Total		$	(181,712	)		$	43,479			$	242,618

Schedule of Provision for Income Taxes from Continuing Operations

The provision for income taxes from continuing operations for the years ended December 31, 2012, 2011 and 2010 consists of the following:

		For the Year Ended December 31,
		2012				2011				2010
		(Dollars in thousands)
Current (benefit) provision
Federal		$	(5,918	)		$	11,787			$	85,405
State and local			283				759				11,121
Foreign			200				2,182				3,565
Total current (benefit) provision			(5,435	)			14,728				100,091
Deferred (benefit) provision
Federal			(39,650	)			26,499				(20,699	)
State and local			(1,908	)			5,319				(516	)
Foreign			187				194				72
Total deferred (benefit) provision			(41,371	)			32,012				(21,143	)
Total (benefit) provision for income taxes		$	(46,806	)		$	46,740			$	78,948

Schedule of Reconciliation of the Statutory U.S. Federal Income Tax Rate to Effective Income Tax Rate for Continuing Operations

A reconciliation of the statutory U.S. federal income tax rate to our effective income tax rate for continuing operations for the years ended December 31, 2012, 2011 and 2010 is as follows:

		For the Year Ended December 31,
		2012				2011				2010
Statutory U.S. federal income tax rate			(35.0	)%			35.0	%			35.0	%
State and local income taxes			(3.8	)			2.7				2.8
Nondeductible goodwill			15.0				103.5				—
Valuation allowance			2.7				0.1				(0.3	)
Foreign taxes			(2.3	)			(15.6	)			(1.3	)
Tax credits			—				(10.5	)			(2.8	)
Worthless stock			—				(3.0	)			—
Other			(2.4	)			(4.7	)			(0.9	)
Effective income tax rate			(25.8	)%			107.5	%			32.5	%

Schedule of Reconciliation of the Beginning and Ending Amount of Gross Unrecognized Tax Benefits

A reconciliation of the beginning and ending amounts of gross unrecognized tax benefits as of December 31, 2012, 2011 and 2010 is as follows:

		2012				2011				2010
		(Dollars in thousands)
Gross unrecognized tax benefits, beginning of the year		$	29,892			$	28,316			$	29,357
Additions for tax positions of prior years			—				1,894				1,518
Reductions for tax positions of prior years			(3,548	)			(1,748	)			(3,765	)
Additions for tax positions related to the current year			958				2,764				2,231
Reductions due to settlements			(2,531	)			(690	)			(810	)
Reductions due to lapse of applicable statute of limitations			(292	)			(644	)			(215	)
Subtotal			24,479				29,892				28,316
Interest and penalties			3,794				4,532				3,892
Total gross unrecognized tax benefits, end of the year		$	28,273			$	34,424			$	32,208

Schedule of Components of Deferred Income Tax Assets and Liabilities for Continuing Operation

Components of deferred income tax assets and liabilities for continuing operations as of December 31, 2012 and 2011 are as follows:

		December 31,
		2012				2011
		(Dollars in thousands)
Deferred income tax assets:
Accrued occupancy		$	3,526			$	1,675
Deferred rent obligations			17,327				17,285
Foreign tax credits			22,267				—
Valuation allowance foreign tax credits			(607	)			—
Compensation and employee benefits			13,946				17,418
Tax net operating loss carry forwards			5,454				5,312
Valuation allowance			(5,100	)			(4,327	)
Allowance for doubtful accounts			2,150				5,151
Covenant not-to-compete			117				210
Accrued settlements and legal			1,887				2,767
Deferred compensation			130				647
Accrued restructuring and severance			2,332				1,138
Other			1,988				4,332
Total deferred income tax assets			65,417				51,608
Deferred income tax liabilities:
Depreciation and amortization			4,974				32,189
Other			5,281				5,909
Total deferred income tax liabilities			10,255				38,098
Net deferred income tax assets		$	55,162			$	13,510

Schedule of Net Deferred Income Tax Assets for Continuing Operations

Net deferred income tax assets for continuing operations as of December 31, 2012 and 2011 are reflected in the consolidated balance sheets as follows:

		December 31,
		2012				2011
		(Dollars in thousands)
Current deferred income tax assets, net		$	7,092			$	10,837
Non-current deferred income tax assets, net			48,070				2,673
Net deferred income tax assets		$	55,162			$	13,510

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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 of 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 (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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