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Income Taxes | 12 Months Ended
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Dec. 31, 2015
Income Taxes |
Income Taxes | 12. Income Taxes The Company's components of (loss) income before income taxes are as follows:
|  | Year Ended December 31, |  | Three Months Ended December 31, |  | Year Ended September 30, |
|  | 2015 |  | 2014 |  | 2014 |  | 2013 |
(Loss) income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic |  | $ | (36,230,000 | ) | $ | (6,249,000 | ) | $ | (11,671,000 | ) | $ | 23,019,000 |
Foreign |  |  | (3,804,000 | ) |  | (654,000 | ) |  | (6,229,000 | ) |  | (3,449,000 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total |  | $ | (40,034,000 | ) | $ | (6,903,000 | ) | $ | (17,900,000 | ) | $ | 19,570,000 |
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The Company recorded income tax benefit of $13,755,000 and $1,912,000 for the year ended December 31, 2015 and the three months ended December 31, 2014, respectively. In year ended September 30, 2014, the Company recorded income tax benefit of $5,280,000 as compared to expense of $9,090,000 in year ended September 30, 2013. Income tax benefit (expense) is comprised of the following:
|  | Year Ended December 31, |  | Three Months Ended December 31, |  | Year Ended September 30, |
|  | 2015 |  | 2014 |  | 2014 |  | 2013 |
Current federal benefit (expense) |  | $ | 280,000 |  |  | — |  | $ | 74,000 |  | $ | (124,000 | )
Current state expense |  |  | (571,000 | ) | $ | (39,000 | ) |  | (633,000 | ) |  | (693,000 | )
Current foreign expense |  |  | — |  |  | — |  |  | (228,000 | ) |  | — |
Deferred foreign benefit (expense) |  |  | 687,000 |  |  | — |  |  | — |  |  | — |
Deferred federal benefit (expense) |  |  | 12,499,000 |  |  | 1,783,000 |  |  | 5,489,000 |  |  | (6,251,000 | )
Deferred state benefit (expense) |  |  | 860,000 |  |  | 168,000 |  |  | 578,000 |  |  | (2,022,000 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total |  | $ | 13,755,000 |  | $ | 1,912,000 |  | $ | 5,280,000 |  | $ | (9,090,000 | )
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The income tax provision differs from the amount computed by applying the statutory federal income tax rate to (losses) income before income taxes as follows:
|  | Year Ended December 31, |  | Three Months Ended December 31, |  | Year Ended September 30, |
|  | 2015 |  | 2014 |  | 2014 |  | 2013 |
Tax benefit (expense) computed at statutory rate of 35% |  | $ | 14,012,000 |  | $ | 2,416,000 |  | $ | 6,265,000 |  | $ | (6,850,000 | )
Change in valuation allowance |  |  | (502,000 | ) |  | (170,000 | ) |  | (1,506,000 | ) |  | (1,265,000 | )
State income tax benefit (expense), net of federal tax |  |  | 423,000 |  |  | 83,000 |  |  | (32,000 | ) |  | (1,486,000 | )
Foreign losses |  |  | 954,000 |  |  | 170,000 |  |  | 1,506,000 |  |  | 987,000 |
Transaction costs |  |  | (445,000 | ) |  | (522,000 | ) |  | (332,000 | ) |  | — |
Other |  |  | (687,000 | ) |  | (65,000 | ) |  | (621,000 | ) |  | (476,000 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income tax benefit (expense) |  | $ | 13,755,000 |  | $ | 1,912,000 |  | $ | 5,280,000 |  | $ | (9,090,000 | )
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The principal components of the Company's net deferred tax liability are as follows:
|  | December 31, 2015 |  | September 30, 2014 |
Deferred tax assets: |  |  |  |  |  |  |
Federal tax net operating loss (NOL) carryforward |  | $ | 23,002,000 |  | $ | 11,205,000 |
Foreign tax NOL carryforward |  |  | 3,694,000 |  |  | 2,441,000 |
Deferred revenue |  |  | 1,193,000 |  |  | 297,000 |
Restricted stock |  |  | 214,000 |  |  | 756,000 |
Workers' compensation |  |  | 144,000 |  |  | 148,000 |
State tax NOL carryforward |  |  | 850,000 |  |  | 792,000 |
Self-insurance |  |  | 260,000 |  |  | 286,000 |
Canadian start-up costs |  |  | 296,000 |  |  | 337,000 |
AMT credit carry forward |  |  | 315,000 |  |  | 312,000 |
Foreign tax credit |  |  | 1,874,000 |  |  | 228,000 |
Other comprehensive income |  |  | 1,055,000 |  |  | 128,000 |
Unrecognized tax benefits |  |  | 562,000 |  |  | — |
Other |  |  | (91,000 | ) |  | 209,000 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total gross deferred tax assets |  |  | 33,368,000 |  |  | 17,139,000 |
Less valuation allowance |  |  | (3,707,000 | ) |  | (2,771,000 | )
Total net deferred tax assets |  |  | 29,661,000 |  |  | 14,368,000 |
Deferred tax liabilities: |  |  |  |  |  |  |
Property and equipment |  |  | (34,980,000 | ) |  | (42,199,000 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total net deferred tax liability |  | $ | (5,319,000 | ) | $ | (27,831,000 | )
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At December 31, 2015, the Company had a gross NOL for U.S. federal income tax purposes of approximately $65,719,000. This NOL will begin to expire in 2029. The Company will carry forward the net federal NOL of approximately $23,002,000. The Company also had net state NOLs that will affect state taxes of approximately $850,000 at December 31, 2015. State NOLs began to expire in 2015. Carryback provisions are not allowed by all states, accordingly the state NOLs give rise to a deferred tax asset. Several of these carry forwards are primarily available in states where the Company believes the assets cannot be deemed to be more likely than not realizable. Based on management's belief that the net operating loss carry forwards are not realizable, a $526,000 valuation allowance, net of federal benefit was maintained to offset these deferred tax assets as of December 31, 2015. The Company also has Canadian deferred tax assets that will begin to expire in 2032. The Company has recorded a partial valuation allowance of $3,181,000 against the Canadian deferred tax assets because management believes it is currently not more likely than not to be realizable. In conjunction with the Merger at February 11, 2015, the Company established an accrual for unrecognized tax benefits of $715,000. At December 31, 2015, the Company increased this accrual for unrecognized tax benefits to $1,684,000. There were no unrecognized tax benefits at the three months ended December 31, 2014 or the years ended September 30, 2014 and 2013. The tax years generally subject to future examination by tax authorities are for years ended December 31, 2012 and after. While it is expected that the amount of unrecognized tax benefits will change in the next twelve months, the Company does not expect any change to have a significant impact on its results of operations. The Company's policy is to recognize interest and penalties related to unrecognized tax benefits in income tax expense. There was no interest and penalties recognized in the year ended December 31, 2015, three months ended December 31, 2014 or in the years ended September 30, 2014 or 2013.

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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=6907707&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=6907707&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=6907707&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=6907707&loc=d3e32537-109319 + Details
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