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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Provisions (Benefits) for Income Taxes | The provisions (benefits) for income taxes for the years ended December 31, 2016, 2015 and 2014 are as follows (in thousands):
|  | Years Ended December 31,
|  | 2016 |  | 2015 |  | 2014
Current: Federal |  | $ | 20,937 |  |  | $ | 361 |  |  | $ | 5,527 |
State |  | 2,103 |  |  | 1,215 |  |  | 1,600 |
Foreign |  | 1,462 |  |  | 644 |  |  | 227 |
Subtotal Current |  | 24,502 |  |  | 2,220 |  |  | 7,354 |
Deferred: Federal |  | 26,735 |  |  | (12,604 | ) |  | (28,092 | )
State |  | 444 |  |  | (99 | ) |  | (2,131 | )
Foreign |  | (43 | ) |  | (399 | ) |  | — |
Subtotal Deferred |  | 27,136 |  |  | (13,102 | ) |  | (30,223 | )
Income tax (benefit) expense |  | $ | 51,638 |  |  | $ | (10,882 | ) |  | $ | (22,869 | )
Components of Income from Continuing Operations Before Income Taxes | The US and foreign components of income (loss) from continuing operations before income taxes for the years ended December 31, 2016, 2015 and 2014 are as follows (in thousands):
|  | Years Ended December 31,
|  | 2016 |  | 2015 |  | 2014
US |  | $ | (71,626 | ) |  | $ | (66,038 | ) |  | $ | (41,351 | )
Foreign |  | 25,833 |  |  | 19,415 |  |  | 6,796 |
Loss from continuing operations before income taxes |  | $ | (45,793 | ) |  | $ | (46,623 | ) |  | $ | (34,555 | )
Federal Statutory Income Tax Rate to Income (Loss) Before Income Taxes | The provision for (benefit from) income taxes differed from the amount computed by applying the federal statutory income tax rate to income (loss) before income taxes due to the following items for the years ended December 31, 2016, 2015 and 2014 (in thousands).
|  | Years Ended December 31,
|  | 2016 |  | 2015 |  | 2014
Tax provision (benefit) at federal statutory rate |  | $ | (16,027 | ) |  | $ | (16,318 | ) |  | $ | (13,027 | )
Permanent differences |  | 1,635 |  |  | (272 | ) |  | 335 |
State tax (net of federal benefit) |  | 1,843 |  |  | 1,068 |  |  | 1,170 |
Foreign rate differential |  | 1,504 |  |  | 287 |  |  | (838 | )
Foreign withholding taxes (net of federal) |  | — |  |  | 1,229 |  |  | 231 |
Executive and stock compensation |  | 1,439 |  |  | 1,044 |  |  | 2,701 |
Adjustment to net operating losses |  | — |  |  | (1,104 | ) |  | — |
Increase (decrease) in valuation allowance |  | 57,830 |  |  | 2,949 |  |  | (17,520 | )
Transaction costs |  | 1,189 |  |  | 473 |  |  | 2,106 |
Tax credits generated/utilized |  | (386 | ) |  | (185 | ) |  | — |
199 Manufacturing deduction |  | — |  |  | — |  |  | (594 | )
Bargain purchase gain |  | — |  |  | — |  |  | (496 | )
Officer life insurance proceeds |  | — |  |  | — |  |  | (392 | )
Foreign E&P |  | — |  |  | — |  |  | 3,395 |
Outside basis difference |  | 2,655 |  |  | — |  |  | — |
Other |  | (44 | ) |  | (53 | ) |  | 60 |
Income tax (benefit) expense |  | $ | 51,638 |  |  | $ | (10,882 | ) |  | $ | (22,869 | )
Net Deferred Tax Assets and Liabilities | Net deferred tax balances are comprised of the following as of December 31, 2016 and 2015 (in thousands):
|  | December 31,
|  | 2016 |  | 2015
Deferred tax assets |  | $ | 257,231 |  |  | $ | 230,838 |
Valuation allowance |  | (138,044 | ) |  | (68,104 | )
Deferred tax liabilities |  | (133,383 | ) |  | (114,504 | )
Net deferred taxes |  | $ | (14,196 | ) |  | $ | 48,230 |
Significant Components of Company's Deferred Tax Assets and Liabilities |
|  | December 31,
|  | 2016 |  | 2015
Allowance for bad debt |  | $ | 151 |  |  | $ | 234 |
Basis difference in intangibles |  | (11,924 | ) |  | (8,402 | )
Equity investments |  | 6,877 |  |  | 6,158 |
Net operating loss carryforwards |  | 43,080 |  |  | 34,484 |
Basis difference in fixed assets |  | (8,616 | ) |  | 854 |
Deferred compensation |  | 11,375 |  |  | 6,765 |
Foreign tax credit |  | 1,190 |  |  | 1,190 |
Capital loss carryforwards |  | 1,381 |  |  | 1,241 |
Insurance company investments |  | (86,811 | ) |  | (99,645 | )
Foreign earnings |  | (11,748 | ) |  | (6,458 | )
UK trading loss carryforward |  | 50,151 |  |  | 54,642 |
Unrealized gain/loss in OCI |  | 3,930 |  |  | 1,177 |
Insurance claims and reserves |  | 95,883 |  |  | 99,945 |
Value of insurance business acquired ("VOBA") |  | 16,712 |  |  | 17,837 |
Start-up cost |  | 1,778 |  |  | 1,924 |
Deferred acquisition cost |  | 5,248 |  |  | — |
Other |  | 5,191 |  |  | 4,388 |
Valuation allowance |  | (138,044 | ) |  | (68,104 | )
Total deferred taxes |  | $ | (14,196 | ) |  | $ | 48,230 |
Unrecognized Tax Benefits | Reconciliations of the period January 1, 2014 to December 31, 2014, January 1, 2015 to December 31, 2015 and January 1, 2016 to December 31, 2016 balances of unrecognized tax benefits are as follows (in thousands):
|  | Years Ended December 31,
|  | 2016 |  | 2015 |  | 2014
Balance at January 1, |  | $ | — |  |  | $ | — |  |  | $ | 35,196 |
Foreign currency adjustments |  | — |  |  | — |  |  | — |
Statute expiration |  | — |  |  | — |  |  | — |
Gross increases (decreases) of tax positions in prior period |  | — |  |  | — |  |  | (35,196 | )
Audit resolution |  | — |  |  | — |  |  | — |
Gross increases of tax positions in current period |  | — |  |  | — |  |  | — |
Balance at December 31, |  | $ | — |  |  | $ | — |  |  | $ | — |

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