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Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes from continuing operations for the years ended December 31, 2014, 2015 and 2016 consisted of (in thousands):

	Year Ended December 31,
	2014				2015				2016
Current:
U. S. federal provision	$	1,188			$	9,840			$	6,609
State provision	772				862				1,195
Total current provision	$	1,960			$	10,702			$	7,804
Deferred:
U. S. federal provision	$	5,117			$	1,928			$	3,475
State provision	178				1,107				1,381
Total deferred provision	$	5,295			$	3,035			$	4,856
Total income tax provision	$	7,255			$	13,737			$	12,660

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of taxes from continuing operations calculated at the U.S. federal statutory rate to those reflected in the Consolidated Statements of Operations for the years ended December 31, 2014, 2015 and 2016 is as follows (dollars in thousands):

	Year Ended December 31,
	2014							2015							2016
	Amount				Percent			Amount				Percent			Amount				Percent
Federal statutory rate	$	7,719			34.0		%	$	12,105			35.0		%	$	11,300			35.0	%
Effect of state income taxes, net of federal benefit	831				3.7			1,618				4.7			1,127				3.5
Effect of non-deductible expenses and other, net	583				2.6			155				0.4			213				0.7
Change in valuation allowance	(138		)		(0.6	)		(141		)		(0.4	)		20				0.1
Reduction for tax year 2011 federal audit	(1,740		)		(7.7	)		—				—			—				—
Total	$	7,255			32.0		%	$	13,737			39.7		%	$	12,660			39.3	%

Unrecognized Tax Benefits

The following table summarizes our unrecognized tax benefit as of December 31, 2015 and 2016 (in thousands):

		December 31, 2015				December 31, 2016
Unrecognized tax benefit		$	814			$	—
Interest accrued on unrecognized tax benefits		$	44			$	—

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences from total operations that give rise to significant deferred tax assets and liabilities at December 31, 2015 and 2016 were as follows (in thousands):

	Year Ended December 31,
	2015				2016
Deferred income tax assets:
Net operating loss carryforwards	$	2,132			$	1,947
Tax credit carryforwards	133				135
State bonus depreciation	993				373
Accrued liabilities and other	9,949				11,163
Amortization of non-compete agreements	897				1,433
Preneed liabilities, net	10,324				9,315
Total deferred income tax assets	24,428				24,366
Less valuation allowance	(189		)		(209		)
Total deferred income tax assets	$	24,239			$	24,157
Deferred income tax liabilities:
Amortization and depreciation	$	(48,318	)		$	(55,461	)
Convertible subordinated notes due 2021	(10,184		)		(8,636		)
Prepaids and other	(1,436		)		(615		)
Total deferred income tax liabilities	(59,938		)		(64,712		)
Total net deferred tax liabilities	$	(35,699	)		$	(40,555	)
Current deferred tax asset	$	4,257			$	—
Non-current deferred tax liabilities	(39,956		)		(40,555		)
Total net deferred tax liabilities	$	(35,699	)		$	(40,555	)

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

	Year Ended December 31,
	2014				2015				2016
Unrecognized tax benefit at beginning of year	$	7,832			$	515			$	814
Reductions based on tax positions related to the prior year	—				—				(17		)
Reductions for tax year 2011 federal audit	(7,310		)		—				(568		)
Additions (reductions) based on tax positions related to the current year	—				299				(229		)
Reductions as a result of a lapse of the applicable statute of limitations	(7		)		—				—
Unrecognized tax benefit at end of year	$	515			$	814			$	—

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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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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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