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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2013
Income Taxes [Abstract] |
Components of Income Tax Expense (Benefit) |
INCOME TAX EXPENSE
(Dollars in Thousands)
|  | 2013 |  | 2012 |  | 2011
Current income tax expense (benefit): |  |  |  |  |  |  |  |  |
Federal income tax expense (benefit) |  | $ | (1,442) |  | $ | 142 |  | $ | 92
Foreign income tax expense (benefit) |  |  | 8 |  |  | 20 |  |  | 149
State and local income tax expense (benefit) |  |  | (57) |  |  | 120 |  |  | -
|  |  | (1,491) |  |  | 282 |  |  | 241
Deferred income tax expense (benefit) |  |  |  |  |  |  |  |  |
Federal income tax expense (benefit) |  |  | (1,827) |  |  | (703) |  |  | (1,047)
Foreign income tax expense (benefit) |  |  | - |  |  | - |  |  | -
State and local income tax expense (benefit) |  |  | (247) |  |  | (194) |  |  | (343)
|  |  | (2,074) |  |  | (897) |  |  | (1,390)
Total |  | $ | (3,565) |  | $ | (615) |  | $ | (1,149)
Effective Income Tax Rate Reconciliation |
|  | 2013 |  | 2012 |  | 2011
Federal statutory rate - 35% |  | $ | (8,220) |  | $ | (929) |  | $ | (5,053)
Pass thru impact |  |  | 2,581 |  |  | 352 |  |  | 1,689
Deferred tax valuation allowance |  |  | 3,812 |  |  | (42) |  |  | 1,964
Recognition of previously unrecognized tax benefit |  |  | (1,231) |  |  | - |  |  | -
Other |  |  | (507) |  |  | 4 |  |  | 251
Total |  | $ | (3,565) |  | $ | (615) |  | $ | (1,149)
Schedule of Deferred Tax Assets and Liabilities |
DEFERRED TAX ASSET AND LIABILITY
(Dollars in Thousands)
|  | December 31, 2013 |  | December 31, 2012
|  | Asset |  | Liability |  | Net |  | Asset |  | Liability |  | Net
Federal net operating loss carry-forward |  | $ | 33,439 |  | $ | - |  | $ | 33,439 |  | $ | 29,990 |  | $ | - |  | $ | 29,990
State net operating loss carry-forward |  |  | 5,291 |  |  | - |  |  | 5,291 |  |  | 5,066 |  |  | - |  |  | 5,066
Federal capital loss carry-forward |  |  | 23,784 |  |  | - |  |  | 23,784 |  |  | 25,283 |  |  | - |  |  | 25,283
Unrealized gain on debt |  |  | - |  |  | (13,274) |  |  | (13,274) |  |  | - |  |  | (14,095) |  |  | (14,095)
Unrealized loss on investment in Operating LLC |  |  | 110,382 |  |  | - |  |  | 110,382 |  |  | 113,398 |  |  | - |  |  | 113,398
Other |  |  | 873 |  |  | - |  |  | 873 |  |  | 1,253 |  |  | - |  |  | 1,253
Gross deferred tax asset / (liability) |  |  | 173,769 |  |  | (13,274) |  |  | 160,495 |  |  | 174,990 |  |  | (14,095) |  |  | 160,895
Less: valuation allowance |  |  | (165,025) |  |  | - |  |  | (165,025) |  |  | (167,498) |  |  | - |  |  | (167,498)
Net deferred tax asset / (liability) |  | $ | 8,744 |  | $ | (13,274) |  | $ | (4,530) |  | $ | 7,492 |  | $ | (14,095) |  | $ | (6,603)
Schedule of Unrecognized Tax Benefits |
|  | 2013 |  | 2012 |  | 2011
Unrecognized tax benefits as of January 1 |  | $ | 1,231 |  | $ | 1,231 |  | $ | 1,231
Increases due to tax positions taken during prior periods |  |  | - |  |  | - |  |  | -
Increases due to tax positions taken in current period |  |  | - |  |  | - |  |  | -
Decreases due to settlements with tax authorities |  |  | - |  |  | - |  |  | -
Reductions due to lapse of applicable statute of limitations |  |  | (1,231) |  |  | - |  |  | -
Unrecognized tax benefits as of December 31 |  | $ | - |  | $ | 1,231 |  | $ | 1,231

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- Definition 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. + References Reference 1: 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 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: 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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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
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