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Income Taxes | 12 Months Ended
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Dec. 31, 2015
Notes to Financial Statements [Abstract] |
Income Taxes | NOTE E — INCOME TAXES The income tax provision (benefit) attributable to continuing operations for the years ended December 31, 2015, 2014, and 2013, consists of the following:
|  | Year Ended December 31,
|  | 2015 |  | 2014 |  | 2013
|  | (In Thousands)
Current |  |  |  |  |  |  |  |  |
Federal |  | $ | (1,310 | ) |  | $ | (69 | ) |  | $ | 530 |
State |  | 2,022 |  |  | (195 | ) |  | (225 | )
Foreign |  | 7,371 |  |  | 10,318 |  |  | 6,065 |
|  | 8,083 |  |  | 10,054 |  |  | 6,370 |
Deferred |  |  |  |  |  |  |  |  |
Federal |  | 191 |  |  | (1,509 | ) |  | (6,685 | )
State |  | (1,613 | ) |  | 3,784 |  |  | (1,121 | )
Foreign |  | 1,043 |  |  | (2,625 | ) |  | (2,018 | )
|  | (379 | ) |  | (350 | ) |  | (9,824 | )
Total tax provision (benefit) |  | $ | 7,704 |  |  | $ | 9,704 |  |  | $ | (3,454 | )
A reconciliation of the provision (benefit) for income taxes attributable to continuing operations, computed by applying the federal statutory rate to income (loss) before income taxes and the reported income taxes, is as follows:
|  | Year Ended December 31,
|  | 2015 |  | 2014 |  | 2013
|  | (In Thousands)
Income tax provision (benefit) computed at statutory federal income tax rates |  | $ | (70,617 | ) |  | $ | (55,254 | ) |  | $ | (45 | )
State income taxes (net of federal benefit) |  | (608 | ) |  | (1,730 | ) |  | (608 | )
Nondeductible meals and entertainment |  | 909 |  |  | 1,433 |  |  | 1,382 |
Impact of international operations |  | (1,880 | ) |  | (7,408 | ) |  | (3,504 | )
Goodwill impairments |  | 20,412 |  |  | 7,442 |  |  | — |
Valuation allowance |  | 55,392 |  |  | 67,781 |  |  | (301 | )
Other |  | 4,096 |  |  | (2,560 | ) |  | (378 | )
Total tax provision (benefit) |  | $ | 7,704 |  |  | $ | 9,704 |  |  | $ | (3,454 | )
The provision (benefit) for income taxes includes amounts related to the anticipated repatriation of certain earnings of our non-U.S. subsidiaries. Undistributed earnings above the amounts upon which taxes have been provided, which was $39.4 million at December 31, 2015, are intended to be permanently invested. It is not practicable to determine the amount of applicable taxes that would be incurred if any such earnings were repatriated. Income (loss) before taxes and discontinued operations includes the following components:
|  | Year Ended December 31,
|  | 2015 |  | 2014 |  | 2013
|  | (In Thousands)
Domestic |  | $ | (195,815 | ) |  | $ | (138,640 | ) |  | $ | (14,322 | )
International |  | (5,948 | ) |  | (19,231 | ) |  | 14,194 |
Total |  | $ | (201,763 | ) |  | $ | (157,871 | ) |  | $ | (128 | )
A reconciliation of the beginning and ending amount of our gross unrecognized tax benefit liability is as follows:
|  | Year Ended December 31,
|  | 2015 |  | 2014 |  | 2013
|  | (In Thousands)
Gross unrecognized tax benefits at beginning of period |  | $ | 1,959 |  |  | $ | 2,018 |  |  | $ | 2,327 |
Decreases in tax positions for prior years |  | — |  |  | — |  |  | (118 | )
Increases in tax positions for current year |  | 120 |  |  | 191 |  |  | 202 |
Lapse in statute of limitations |  | (124 | ) |  | (250 | ) |  | (393 | )
Gross unrecognized tax benefits at end of period |  | $ | 1,955 |  |  | $ | 1,959 |  |  | $ | 2,018 |
We recognize interest and penalties related to uncertain tax positions in income tax expense. During the years ended December 31, 2015, 2014, and 2013, we recognized $0.3 million, $0.2 million, and $(0.2) million, respectively, of interest and penalties to the provision for income tax. As of December 31, 2015 and 2014, we had $2.4 million and $2.1 million, respectively, of accrued potential interest and penalties associated with these uncertain tax positions. The total amount of unrecognized tax benefits that would affect our effective tax rate if recognized is $3.5 million and $2.1 million as of December 31, 2015 and 2014, respectively. We do not expect a significant change to the unrecognized tax benefits during the next twelve months. We file tax returns in the U.S. and in various state, local, and non-U.S. jurisdictions. The following table summarizes the earliest tax years that remain subject to examination by taxing authorities in any major jurisdiction in which we operate:
Jurisdiction | Earliest Open Tax Period
United States – Federal | 2012
United States – State and Local | 2002
Non-U.S. jurisdictions | 2009
We use the liability method for reporting income taxes, under which current and deferred tax assets and liabilities are recorded in accordance with enacted tax laws and rates. Under this method, at the end of each period, the amounts of deferred tax assets and liabilities are determined using the tax rate expected to be in effect when the taxes are actually paid or recovered. We establish a valuation allowance to reduce the deferred tax assets when it is more likely than not that some portion or all of the deferred tax assets will not be realized. We considered all available evidence, both positive and negative, in determining whether, based on the weight of that evidence, a valuation allowance is needed for some portion or all of our deferred tax assets. In determining the need for a valuation allowance on our deferred tax assets we placed greater weight on recent and objectively verifiable current information, as compared to more forward-looking information that is used in valuating other assets on the balance sheet. While we have considered tax planning strategies in assessing the need for the valuation allowance, there can be no guarantee that we will be able to realize all of our deferred tax assets. Significant components of our deferred tax assets and liabilities as of December 31, 2015 and 2014, are as follows:
|  | December 31,
|  | 2015 |  | 2014
|  | (In Thousands)
Net operating losses |  | $ | 91,973 |  |  | $ | 88,867 |
Foreign tax credits and alternative minimum tax credits |  | 19,772 |  |  | 15,910 |
Accruals |  | 30,033 |  |  | 35,135 |
Income recognized for tax not book |  | 2,608 |  |  | — |
All other |  | 8,686 |  |  | 2,855 |
Total deferred tax assets |  | 153,072 |  |  | 142,767 |
Valuation allowance |  | (126,673 | ) |  | (73,696 | )
Net deferred tax assets |  | $ | 26,399 |  |  | $ | 69,071 |
|  | December 31,
|  | 2015 |  | 2014
|  | (In Thousands)
Depreciation and amortization for tax in excess of book expense |  | $ | 34,146 |  |  | $ | 77,751 |
All other |  | 1,695 |  |  | 844 |
Total deferred tax liability |  | 35,841 |  |  | 78,595 |
Net deferred tax liability |  | $ | 9,442 |  |  | $ | 9,524 |
We believe that it is more likely than not we will not realize all the tax benefits of the deferred tax assets within the allowable carryforward period. Therefore, an appropriate valuation allowance has been provided. The valuation allowance as of December 31, 2015 and 2014, primarily relates to federal deferred tax assets. The increase (decrease) in the valuation allowance during the years ended December 31, 2015, 2014, and 2013, were $53.0 million, $69.9 million, and $(0.3) million, respectively. At December 31, 2015, we had approximately $92.0 million of federal, foreign, and state net operating loss carryforwards. In those countries and states in which net operating losses are subject to an expiration period, our loss carryforwards, if not utilized, will expire at various dates from 2016 through 2035. At December 31, 2015, we had $18.8 million of foreign tax credits available to offset future payment of federal income taxes. The foreign tax credits expire in varying amounts from 2020 through 2025. In November 2015, the FASB issued ASU 2015-17. The update changes how deferred taxes are classified on the balance sheet, eliminating the existing requirement for organizations to present deferred tax liabilities and assets as current and noncurrent in a classified balance sheet. Instead, organizations will be required to classify all deferred tax assets and liabilities as noncurrent. The ASU is effective for fiscal years and interim periods within those years beginning after December 15, 2016. As permitted by ASU 2015-17, we elected to early adopt this guidance effective December 31, 2015, using the retrospective adoption. The impact of the retrospective adoption of this standard was not material to our consolidated financial statements.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + 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)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 4: 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 Reference 5: 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
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