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Income Taxes | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Income Taxes | NOTE 18—INCOME TAXES (a) Composition of income (loss) from continuing operations before income taxes is as follows:
|  |  | Year ended December 31, |
|  |  | 2016 |  |  | 2015 |
Domestic |  |  | $ | (142 | ) |  | $ | (5,409 | )
Foreign |  |  |  | 60 |  |  |  | (88 | )
|  |  | $ | (82 | ) |  | $ | (5,497 | )
Income tax expense (benefit) consists of the following:
|  | Year ended December 31, |
|  | 2016 |  |  | 2015 |
Current: |  |  |  |  |  |  |  |
Federal |  | $ | — |  |  | $ | — |
State and local |  |  | — |  |  |  | — |
Foreign |  |  | — |  |  |  | (50 | )
|  |  | — |  |  |  | (50 | )
Deferred: |  |  |  |  |  |  |  |
Federal |  |  | — |  |  |  | — |
State and local |  |  | — |  |  |  | — |
Foreign |  |  | 19 |  |  |  | 259 |
|  |  | 19 |  |  |  | 259 |
Total income tax expense |  | $ | 19 |  |  | $ | 209 |
(b) Effective Income Tax Rates Set forth below is a reconciliation between the federal tax rate and the Company’s effective income tax rates with respect to continuing operations:
|  | Year ended December 31, |
|  | 2016 |  |  | 2015 |
Statutory Federal rates |  |  | 34 | % |  |  | 34 | %
Increase (decrease) in income tax rate resulting from: |  |  |  |  |  |  |  |
Tax on foreign activities |  |  | (2 | ) |  |  | 6 |
Other, net (primarily permanent differences) |  |  | (200 | ) |  |  | (4 | )
Valuation allowance |  |  | 145 |  |  |  | (40 | )
Effective income tax rates |  |  | (23 | )% |  |  | (4 | )%
(c) Analysis of Deferred Tax Assets and (Liabilities)
|  | As of December 31, |
|  | 2016 |  |  | 2015 |
Deferred tax assets (liabilities) consist of the following: |  |  |  |  |  |
Employee benefits and deferred compensation |  | $ | 1,745 |  |  | $ | 1,722 |
Investments and asset impairments |  |  | 2,619 |  |  |  | 2,693 |
Other temporary differences |  |  | (807 | ) |  |  | (937 | )
Net operating loss carryforwards |  |  | 21,977 |  |  |  | 21,957 |
|  |  | 25,534 |  |  |  | 25,435 |
Valuation allowance |  |  | (25,534 | ) |  |  | (25,208 | )
Net deferred tax assets |  | $ | — |  |  | $ | 227 |
Deferred tax assets in 2015 relate to the Company’s former DSIT subsidiary. Following the closing of the DSIT Transaction (see Note 3), the Company no longer consolidates the assets and liabilities of DSIT, but rather reports its investment in DSIT using the equity method. Accordingly, the Company eliminated these deferred tax assets as part of the deconsolidation of DSIT. Valuation allowances relate principally to net operating loss carryforwards related to the Company's consolidated tax losses as well as state tax losses related the Company's OmniMetrix subsidiary and book-tax differences related asset impairments and stock compensation expense of the Company. During the year ended December 31, 2016, the valuation allowance increased by $326. (d) Summary of Tax Loss Carryforwards As of December 31, 2016, the Company had various net operating loss carryforwards expiring as follows:
Expiration |  |  | Federal* |  |  | State |
2023 - 2029 |  |  | $ | 503 |  |  |  | — |
2030 - 2036 |  |  |  | 61,692 |  |  |  | 13,000 |
Total |  |  | $ | 62,195 |  |  |  | 13,000 |
* The utilization of a portion of these net operating loss carryforwards is limited due to limits on utilizing net operating loss carryforwards under Internal Revenue Service regulations following a change in control. (e) Taxation in the United States On October 22, 2004, The American Jobs Creation Act (the “Act”) was signed into law. The Act includes a deduction of 85% of certain foreign earnings that are repatriated, as defined in the Act. The Company’s foreign earnings were derived from the Company’s DSIT subsidiary up to the date of the DSIT Transaction (see Note 3). As a holding company without other business activity in Delaware, the Company is exempt from Delaware state income tax. Thus, the Company’s statutory income tax rate on domestic earnings is the federal rate of 34%. (f) Uncertain Tax Positions (UTP) As of December 31, 2015 and 2016, no interest or penalties were accrued on the balance sheet related to UTP. During the years ending December 31, 2015 and 2016, the Company had no changes in unrecognized tax benefits or associated interest and penalties as a result of tax positions made during the current or prior periods with respect to its continuing or discontinued operations. The Company is subject to U.S. Federal and state income tax. As of January 1, 2017, the Company is no longer subject to examination by U.S. Federal taxing authorities for years before 2013, for years before 2012 for state income taxes. During 2014, the Company’s U.S. Federal income tax returns for the years ended December 31, 2011 through December 31, 2012 were examined by the IRS. No material adjustments were made by the IRS in the course of their audit.

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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=65882285&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=65882285&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=65882285&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=65882285&loc=d3e32537-109319 + Details
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