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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Components of Income Tax Expense (Benefit)

Significant components of the provision for income tax benefit (expense) are as follows:

(In thousands)		Years Ended December 31,
		2014				2013				2012
Current - Federal		$	(503	)		$	10,586			$	61,655
Current - foreign			(27,256	)			(48,466	)			(48,579	)
Current - state			3,193				1,527				(9,408	)
Total current benefit (expense)			(24,566	)			(36,353	)			3,668
Deferred - Federal			(29,284	)			126,905				261,014
Deferred - foreign			4,308				8,932				27,970
Deferred - state			(8,947	)			22,333				15,627
Total deferred benefit (expense)			(33,923	)			158,170				304,611
Income tax benefit (expense)		$	(58,489	)		$	121,817			$	308,279

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax liabilities and assets as of December 31, 2014 and 2013 are as follows:

(In thousands)		2014				2013
Deferred tax liabilities:
Intangibles and fixed assets		$	2,335,584			$	2,402,168
Long-term debt			119,887				183,615
Investments in nonconsolidated affiliates			1,121				-
Other investments			5,575				6,759
Other			8,857				6,655
Total deferred tax liabilities			2,471,024				2,599,197
Deferred tax assets:
Accrued expenses			111,884				106,651
Investments in nonconsolidated affiliates			-				1,824
Net operating loss carryforwards			1,445,340				1,287,239
Bad debt reserves			9,346				9,726
Other			34,017				35,527
Total gross deferred tax assets			1,600,587				1,440,967
Less: Valuation allowance			655,658				327,623
Total deferred tax assets			944,929				1,113,344
Net deferred tax liabilities		$	1,526,095			$	1,485,853

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation of income tax computed at the U.S. Federal statutory tax rates to income tax benefit is:

		Years Ended December 31,
(In thousands)		2014								2013								2012
		Amount				Percent				Amount				Percent				Amount				Percent
Income tax benefit at statutory rates		$	246,284			35%				$	246,867			35%				$	251,814			35%
State income taxes, net of federal tax effect			26,518			4%					32,768			4%					6,218			1%
Foreign income taxes			11,074			2%					(22,640)			(3%)					8,782			2%
Nondeductible items			(5,533)			(1%)					(4,870)			(1%)					(4,617)			(1%)
Changes in valuation allowance and other estimates			(333,641)			(47%)					(135,161)			(19%)					50,697			7%
Other, net			(3,191)			(1%)					4,853			1%					(4,615)			(1%)
Income tax benefit (expense)		$	(58,489)			(8%)				$	121,817			17%				$	308,279			43%

Schedule of Unrecognized Tax Benefits

The total amount of unrecognized tax benefits at December 31, 2014 and 2013 that, if recognized, would impact the effective income tax rate is $68.8 million and $100.1 million, respectively.

(In thousands)		Years Ended December 31,
Unrecognized Tax Benefits		2014				2013
Balance at beginning of period		$	129,375			$	138,437
Increases for tax position taken in the current year			13,848				12,004
Increases for tax positions taken in previous years			6,003				13,163
Decreases for tax position taken in previous years			(9,764)				(21,928)
Decreases due to settlements with tax authorities			(8,181)				(1,113)
Decreases due to lapse of statute of limitations			(24,367)				(11,188)
Balance at end of period		$	106,914			$	129,375

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