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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The consolidated income (loss) before income taxes for 2015, 2014 and 2013 consists of the following (in thousands):

		2015			2014			2013
Domestic		$	163,325		$	98,246		$	77,465
Foreign			(14)			216			158
Total income before income taxes		$	163,311		$	98,462		$	77,623

Schedule of Components of Income Tax Expense (Benefit)

The consolidated income tax expense for 2015, 2014 and 2013 consists of the following components (in thousands):

		2015			2014			2013
Current
Federal		$	58,090		$	19,036		$	158
State			8,627			1,805			717
Foreign			54			118			130
		$	66,771		$	20,959		$	1,005
Deferred
Federal		$	(7,930)		$	12,913		$	26,792
State			288			3,778			3,412
Foreign			(107)			(118)			(115)
		$	(7,749)		$	16,573		$	30,089
Total consolidated expense		$	59,022		$	37,532		$	31,094

Schedule of Effective Income Tax Rate Reconciliation

The following table provides a reconciliation of differences from the U.S. Federal statutory rate of 35% as follows (in thousands):

		2015				2014				2013
Pretax book income		$	163,311			$	98,462			$	77,623
Federal tax expense at 35% statutory rate			57,159				34,462				27,168
State and local income taxes			6,190				4,808				3,870
Foreign tax rate differential			(3	)			(206	)			(41	)
Benefit of domestic production deduction			(5,255	)			(2,010	)			-
Other			931				478				97
Total income tax expense		$	59,022			$	37,532			$	31,094

Schedule of Deferred Tax Assets and Liabilities

The components of deferred tax assets and deferred tax liabilities as of December 31, 2015 and 2014 were as follows (in thousands):

		2015			2014
Deferred tax assets
Tax credits and loss carryforwards		$	563		$	2,550
Accrued liabilities			9,211			6,882
Incentive compensation			24,682			19,333
Other			3,909			3,389
		$	38,365		$	32,154
Deferred tax liabilities
Property, plant and equipment			(4,000)			(2,858)
Intangibles			(5,325)			(5,565)
Prepaid assets			(697)			(638)
Convertible note discount			(3,234)			(5,117)
Other			(1,658)			(2,025)
		$	(14,914)		$	(16,203)
Net deferred tax asset before valuation allowances and reserves		$	23,451		$	15,951
Valuation allowances			(1,159)			(1,307)
Net deferred tax asset		$	22,292		$	14,644

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands) and all balances as of December 31, 2015 are included in either Other Noncurrent Liabilities or Current Deferred Income Taxes in the Company’s Consolidated Balance Sheet:

Balance at January 1, 2014		$	10,971
Decrease in prior year tax positions			(323)
Balance at December 31, 2014		$	10,648
Decrease in prior year tax positions			(23)
Balance at December 31, 2015		$	10,625

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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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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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