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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2015
Income Taxes [Abstract] |
Components of Income Tax Expense (Benefit) |
INCOME TAX EXPENSE
(Dollars in Thousands)
|  | Year Ended December 31,
|  | 2015 |  | 2014 |  | 2013
Current income tax expense (benefit): |  |  |  |  |  |  |  |  |
Federal income tax expense (benefit) |  | $ | 61 |  | $ | - |  | $ | (1,442)
Foreign income tax expense (benefit) |  |  | 108 |  |  | 228 |  |  | 8
State and local income tax expense (benefit) |  |  | - |  |  | - |  |  | (58)
|  |  | 169 |  |  | 228 |  |  | (1,492)
Deferred income tax expense (benefit) |  |  |  |  |  |  |  |  |
Federal income tax expense (benefit) |  |  | (143) |  |  | (566) |  |  | (1,827)
Foreign income tax expense (benefit) |  |  | - |  |  | - |  |  | -
State and local income tax expense (benefit) |  |  | 59 |  |  | (76) |  |  | (246)
|  |  | (84) |  |  | (642) |  |  | (2,073)
Total |  | $ | 85 |  | $ | (414) |  | $ | (3,565)
Schedule of Income before Income Tax, Domestic and Foreign |
INCOME (LOSS) BEFORE INCOME TAXES
(Dollars in Thousands)
|  | Year Ended December 31,
|  | 2015 |  | 2014 |  | 2013
Domestic |  | $ | (2,392) |  | $ | (2,583) |  | $ | (20,404)
Foreign |  |  | (3,191) |  |  | (1,503) |  |  | (3,080)
Total Income (loss) before income taxes |  | $ | (5,583) |  | $ | (4,086) |  | $ | (23,484)
Effective Income Tax Rate Reconciliation |
INCOME TAX RATE RECONCILIATION
(Dollars in Thousands)
|  | Year Ended December 31,
|  | 2015 |  | 2014 |  | 2013
Federal statutory rate - 35% |  | $ | (1,954) |  | $ | (1,430) |  | $ | (8,220)
Pass thru impact |  |  | 520 |  |  | 375 |  |  | 2,581
Deferred tax valuation allowance |  |  | 1,291 |  |  | 489 |  |  | 3,812
Recognition of previously unrecognized tax benefit |  |  | - |  |  | - |  |  | (1,231)
Other |  |  | 228 |  |  | 152 |  |  | (507)
Total |  | $ | 85 |  | $ | (414) |  | $ | (3,565)
Schedule of Deferred Tax Assets and Liabilities |
DEFERRED TAX ASSET AND LIABILITY
(Dollars in Thousands)
|  | December 31, 2015 |  | December 31, 2014
|  | Asset |  | Liability |  | Net |  | Asset |  | Liability |  | Net
Federal net operating loss carry-forward |  | $ | 33,577 |  | $ | - |  | $ | 33,577 |  | $ | 34,788 |  | $ | - |  | $ | 34,788
State net operating loss carry-forward |  |  | 5,372 |  |  | - |  |  | 5,372 |  |  | 5,791 |  |  | - |  |  | 5,791
Federal capital loss carry-forward |  |  | 54,445 |  |  | - |  |  | 54,445 |  |  | 10,597 |  |  | - |  |  | 10,597
Unrealized gain on debt |  |  | - |  |  | (11,938) |  |  | (11,938) |  |  | - |  |  | (12,426) |  |  | (12,426)
Unrealized loss on investment in Operating LLC |  |  | 49,736 |  |  | - |  |  | 49,736 |  |  | 68,813 |  |  | - |  |  | 68,813
Other |  |  | 834 |  |  | - |  |  | 834 |  |  | 754 |  |  | - |  |  | 754
Gross deferred tax asset / (liability) |  |  | 143,964 |  |  | (11,938) |  |  | 132,026 |  |  | 120,743 |  |  | (12,426) |  |  | 108,317
Less: valuation allowance |  |  | (135,830) |  |  | - |  |  | (135,830) |  |  | (112,205) |  |  | - |  |  | (112,205)
Net deferred tax asset / (liability) |  | $ | 8,134 |  | $ | (11,938) |  | $ | (3,804) |  | $ | 8,538 |  | $ | (12,426) |  | $ | (3,888)
Schedule of Unrecognized Tax Benefits |
UNRECOGNIZED TAX BENEFITS
(Dollars in Thousands)
|  | Year Ended
|  | (Dollars in Thousands)
|  | 2015 |  | 2014 |  | 2013
Unrecognized tax benefits as of January 1 |  | $ | - |  | $ | - |  | $ | 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 |  | $ | - |  | $ | - |  | $ | -

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