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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2014
Income Taxes |
Change in unrecognized tax benefits |
|  | Year Ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
|  | (In thousands) |
Balance as of January 1 |  | $ | 47,552 |  | $ | 83,950 |  | $ | 68,848 |
Additions based on tax positions related to the current year |  |  | 167,107 | (1) |  | 145 |  |  | 922 |
Additions for tax positions of prior years |  |  | 1,744 |  |  | 3,360 |  |  | 16,372 | (3)
Reductions for tax positions for prior years |  |  | (4,473 | ) |  | (30,320 | )(2) |  | (1,174 | )
Settlements |  |  | (8,223 | ) |  | (9,583 | ) |  | (1,018 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance as of December 31 |  | $ | 203,707 |  | $ | 47,552 |  | $ | 83,950 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(1) | Includes $166.0 million related to internal restructuring.
(2) | Includes $21.6 million related to settlements in Mexico, Canada and Algeria and $8.7 million due to the expiration of statutes.
(3) | Includes an uncertain tax position of $10.4 million related to a Mexico audit assessment.
Income (loss) from continuing operations before income taxes |
|  | Year Ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
|  | (In thousands) |
United States and Other Jurisdictions |  |  |  |  |  |  |  |  |  |
United States |  | $ | (598,121 | ) | $ | (84,032 | ) | $ | 193,125 |
Other jurisdictions |  |  | (6,494 | ) |  | 190,192 |  |  | 83,835 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income (loss) from continuing operations before income taxes |  | $ | (604,615 | ) | $ | 106,160 |  | $ | 276,960 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income tax expense (benefit) from continuing operations |
|  | Year Ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
|  | (In thousands) |
Current: |  |  |  |  |  |  |  |  |  |
U.S. federal |  | $ | 183,840 |  | $ | (16,934 | ) | $ | 25,802 |
Outside the U.S. |  |  | 109,072 |  |  | 50,866 |  |  | 82,950 |
State |  |  | 9,401 |  |  | 5,933 |  |  | 34,242 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | 302,313 |  | $ | 39,865 |  | $ | 142,994 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred: |  |  |  |  |  |  |  |  |  |
U.S. federal |  | $ | (211,119 | ) | $ | (71,251 | ) | $ | (79,193 | )
Outside the U.S. |  |  | (9,127 | ) |  | (10,288 | ) |  | (9,484 | )
State |  |  | (19,401 | ) |  | (13,507 | ) |  | (13,331 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
|  | $ | (239,647 | ) | $ | (95,046 | ) | $ | (102,008 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income tax expense (benefit) |  | $ | 62,666 |  | $ | (55,181 | ) | $ | 40,986 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reconciliation of the differences between taxes on income (loss) before income taxes |
|  | Year Ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
|  | (In thousands) |
Income tax provision at statutory (Bermuda rate of 0%) |  | $ | — |  | $ | — |  | $ | — |
Taxes (benefit) on U.S. and other international earnings (losses) at greater than the Bermuda rate |  |  | (83,747 | ) |  | (33,277 | ) |  | (39,830 | )
Increase (decrease) in valuation allowance |  |  | (9,934 | ) |  | 25,592 |  |  | 33,730 |
Tax reserves and interest |  |  | 166,347 |  |  | (39,921 | ) |  | 26,176 |
State income taxes (benefit) |  |  | (10,000 | ) |  | (7,575 | ) |  | 20,910 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income tax expense (benefit) |  | $ | 62,666 |  | $ | (55,181 | ) | $ | 40,986 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Effective tax rate |  |  | (10.4 | )% |  | (52.0 | )% |  | 14.8 | %
Deferred tax assets and liabilities |
|  | December 31, |
|  | 2014 |  | 2013 |
|  | (In thousands) |
Deferred tax assets: |  |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 1,470,407 |  | $ | 1,658,084 |
Equity compensation |  |  | 35,296 |  |  | 32,219 |
Deferred revenue |  |  | 23,116 |  |  | 35,689 |
Tax credit and other attribute carryforwards |  |  | 116,833 |  |  | 109,294 |
Insurance loss reserves |  |  | 6,235 |  |  | 4,645 |
Accrued Interest |  |  | 227,572 |  |  | 224,959 |
Other |  |  | 143,302 |  |  | 162,678 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Subtotal |  |  | 2,022,761 |  |  | 2,227,568 |
Valuation allowance |  |  | (1,537,507 | ) |  | (1,547,441 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax assets: |  | $ | 485,254 |  | $ | 680,127 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax liabilities: |  |  |  |  |  |  |
Depreciation and amortization for tax in excess of book expense |  | $ | 760,294 |  | $ | 967,689 |
Variable interest investments |  |  | 4,496 |  |  | 85,979 |
Other |  |  | 17,953 |  |  | 17,890 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax liability |  | $ | 782,743 |  | $ | 1,071,558 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net deferred tax assets (liabilities) |  | $ | (297,489 | ) | $ | (391,431 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance Sheet Summary: |  |  |  |  |  |  |
Net current deferred asset |  | $ | 118,230 |  | $ | 121,316 |
Net noncurrent deferred asset(1) |  |  | 30,961 |  |  | 6,491 |
Net current deferred liability(2) |  |  | (3,677 | ) |  | (3,077 | )
Net noncurrent deferred liability |  |  | (443,003 | ) |  | (516,161 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net deferred asset (liability) |  | $ | (297,489 | ) | $ | (391,431 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(1) | This amount is included in other long-term assets.
(2) | This amount is included in accrued liabilities.
NOL carryforwards by year of expiration |
Year Ended December 31, |  | Total |  | U.S. Federal |  | Non-U.S. |
|  | (In thousands) |
2015 |  | $ | 8,295 |  | $ | — |  | $ | 8,295 |
2016 |  |  | 27,847 |  |  | — |  |  | 27,847 |
2017 |  |  | 34,729 |  |  | — |  |  | 34,729 |
2018 |  |  | 48,559 |  |  | — |  |  | 48,559 |
2019 |  |  | 15,997 |  |  | 13,369 |  |  | 2,628 |
2020 |  |  | 15,115 |  |  | — |  |  | 15,115 |
2021 |  |  | 21,354 |  |  | — |  |  | 21,354 |
2022 |  |  | 1,282 |  |  | — |  |  | 1,282 |
2023 |  |  | 2,965 |  |  | — |  |  | 2,965 |
2024 |  |  | 7,583 |  |  | — |  |  | 7,583 |
2028 |  |  | 8 |  |  | — |  |  | 8 |
2030 |  |  | 99 |  |  | — |  |  | 99 |
2031 |  |  | 242,703 |  |  | 200,912 |  |  | 41,791 |
2032 |  |  | 75,257 |  |  | — |  |  | 75,257 |
2033 |  |  | 83,601 |  |  | — |  |  | 83,601 |
2034 |  |  | 9,610 |  |  | — |  |  | 9,610 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Subtotal: expiring NOLs |  | $ | 595,004 |  | $ | 214,281 |  | $ | 380,723 |
Non-expiring NOLs |  |  | 4,898,787 |  |  | — |  |  | 4,898,787 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total |  | $ | 5,493,791 |  | $ | 214,281 |  | $ | 5,279,510 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​

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- 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
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