v3.6.0.2

Income Taxes | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Income Taxes | INCOME TAXES Following is a summary of the Company’s income tax expense:
| Year Ended December 31,
(In Thousands) | 2016 |  | 2015 |  | 2014
Current Income Tax Expense: |  |  |  |  |
Federal | $ | 103,993 |  |  | $ | 32,999 |  |  | $ | 41,946 |
State | 10,308 |  |  | 5,442 |  |  | 8,682 |
| 114,301 |  |  | 38,441 |  |  | 50,628 |
Deferred Income Tax (Benefit) Expense: |  |  |  |  |
Federal | (33,470 | ) |  | 35,413 |  |  | (3,314 | )
State | (1,692 | ) |  | 3,557 |  |  | (3,843 | )
| (35,162 | ) |  | 38,970 |  |  | (7,157 | )
| $ | 79,139 |  |  | $ | 77,411 |  |  | $ | 43,471 |
As a result of the extended bonus depreciation provisions in the Protecting Americans From Tax Hikes Act of 2015 not being enacted until December 2015, the Company paid more than the amount ultimately required for the 2015 federal tax liability. Due to that overpayment the Company received a refund of $120.0 million in February 2016. Significant components of the Company’s deferred income tax liabilities and assets are as follows:
| December 31,
(In Thousands) | 2016 |  | 2015
Deferred Tax Liabilities: |  |  |
Lease Merchandise and Property, Plant and Equipment | $ | 185,891 |  |  | $ | 228,174 |
Goodwill and Other Intangibles | 52,135 |  |  | 47,421 |
Investment in Partnership | 96,291 |  |  | 88,913 |
Other, Net | 1,619 |  |  | 2,062 |
Total Deferred Tax Liabilities | 335,936 |  |  | 366,570 |
Deferred Tax Assets: |  |  |
Accrued Liabilities | 33,243 |  |  | 29,192 |
Advance Payments | 13,087 |  |  | 15,713 |
Other, Net | 20,277 |  |  | 14,936 |
Total Deferred Tax Assets | 66,607 |  |  | 59,841 |
Less Valuation Allowance | (875 | ) |  | (752 | )
Net Deferred Tax Liabilities | $ | 270,204 |  |  | $ | 307,481 |
The Company’s effective tax rate differs from the statutory United States Federal income tax rate as follows:
| Year Ended December 31,
| 2016 |  | 2015 |  | 2014
Statutory Rate | 35.0 | % |  | 35.0 | % |  | 35.0 | %
Increases (Decreases) in United States Federal Taxes |  |  |  |  |
Resulting From: |  |  |  |  |
State Income Taxes, Net of Federal Income Tax Benefit | 2.6 |  |  | 2.7 |  |  | 2.6 |
Federal Tax Credits | (1.1 | ) |  | (0.5 | ) |  | (1.8 | )
Other, Net | (0.3 | ) |  | (0.9 | ) |  | (0.1 | )
Effective Tax Rate | 36.2 | % |  | 36.3 | % |  | 35.7 | %
The Company files a federal consolidated income tax return in the United States and the separate legal entities file in various states and foreign jurisdictions. With few exceptions, the Company is no longer subject to federal, state and local tax examinations by tax authorities for years before 2013. The following table summarizes the activity related to the Company’s uncertain tax positions:
| Year Ended December 31,
(In Thousands) | 2016 |  | 2015 |  | 2014
Balance at January 1, | $ | 3,561 |  |  | $ | 2,644 |  |  | $ | 1,960 |
Additions Based on Tax Positions Related to the Current Year | 258 |  |  | 331 |  |  | 311 |
Additions for Tax Positions of Prior Years | 293 |  |  | 1,176 |  |  | 928 |
Prior Year Reductions | (776 | ) |  | (1 | ) |  | (370 | )
Statute Expirations | (609 | ) |  | (589 | ) |  | (94 | )
Settlements | (133 | ) |  | — |  |  | (91 | )
Balance at December 31, | $ | 2,594 |  |  | $ | 3,561 |  |  | $ | 2,644 |
As of December 31, 2016 and 2015, the amount of uncertain tax benefits that, if recognized, would affect the effective tax rate is $2.5 million and $3.1 million, respectively, including interest and penalties. During the year ended December 31, 2016, the Company recognized a net benefit of $0.1 million related to interest and penalties. During the years ended December 31, 2015 and 2014, the Company recognized interest and penalties of $0.4 million and $0.3 million, respectively. The Company had $0.9 million and $1.0 million of accrued interest and penalties at December 31, 2016 and 2015, respectively. The Company recognizes potential interest and penalties related to uncertain tax benefits as a component of income tax expense.

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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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