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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of Components of Provision (Benefit) for Income Taxes

The provision (benefit) for income taxes included the following components:

(in thousands)		2016				2015				2014
Current:
Federal		$	5,361			$	268			$	—
State		1,683				(277		)		173
Total Current		7,044				(9		)		173
Deferred:
Federal		2,944				1,820				(957		)
State		438				163				(107		)
Total Deferred		3,382				1,983				(1,064		)
Provision (benefit) for income taxes		$	10,426			$	1,974			$	(891	)

Schedule of Reconciliation of Income Tax Benefit

The following table reconciles the income tax benefit included in the combined and consolidated statement of operations with income tax expense that would result from application of the statutory federal tax rate, 35% and 34% for the years ended December 31, 2016 and 2015, respectively, to loss before income tax expense (benefit):

(in thousands)	2016			2015
Expected provision at federal statutory rate	$	26,635		$	9,503
Increase (decrease) resulting from:
Non-controlling interest	(17,740		)	(7,356		)
State income taxes, net of federal income tax effect	1,346			(222		)
Other	185			49
Provision for income taxes	$	10,426		$	1,974

Schedule of Deferred Tax Assets

The components of the Company’s deferred tax assets as of December 31, 2016 and 2015 are as follows:

(in thousands)	2016			2015
Deferred Tax Assets:
Investment in Spark HoldCo	$	35,359		$	14,901
Benefit of TRA Liability	19,705			7,876
Other	(17		)	2
Total deferred tax assets	55,047			22,779
Deferred Tax Liabilities:
Derivative liabilities	(1,849		)	(613		)
Intangibles	(1,519		)	(1,400		)
Property and equipment	(10		)	(18		)
Federal net operating loss carryforward	2,076			1,488
State net operating loss carryforward	366			290
Other	(2		)	1
Total deferred tax liabilities	(938		)	(252		)
Total deferred tax assets/liabilities	$	54,109		$	22,527

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- References

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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=65882285&loc=d3e32639-109319

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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=65882285&loc=d3e32537-109319

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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=65882285&loc=d3e32687-109319

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