v3.8.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Summary of Income Tax Expense

Following is a summary of the Company’s income tax (benefit) expense:

	Year Ended December 31,
(In Thousands)	2017				2016				2015
Current Income Tax Expense:
Federal	$	(3,530	)		$	103,993			$	32,999
State	9,772				10,308				5,442
	6,242				114,301				38,441
Deferred Income Tax (Benefit) Expense:
Federal	(60,547		)		(33,470		)		35,413
State	1,346				(1,692		)		3,557
	(59,201		)		(35,162		)		38,970
Income Tax (Benefit) Expense	$	(52,959	)		$	79,139			$	77,411

Components of Deferred Income Tax Liabilities and Assets

Significant components of the Company’s deferred income tax liabilities and assets are as follows:

	December 31,
(In Thousands)	2017				2016
Deferred Tax Liabilities:
Lease Merchandise and Property, Plant and Equipment	$	122,155			$	185,891
Goodwill and Other Intangibles	37,080				52,135
Investment in Partnership	107,173				96,291
Other, Net	2,074				1,619
Total Deferred Tax Liabilities	268,482				335,936
Deferred Tax Assets:
Accrued Liabilities	25,509				33,243
Advance Payments	8,199				13,087
Other, Net	23,771				20,277
Total Deferred Tax Assets	57,479				66,607
Less Valuation Allowance	—				(875		)
Net Deferred Tax Liabilities	$	211,003			$	270,204

Effective Tax Rate Differs from Statutory United States Federal Income Tax Rate

The Company’s effective tax rate differs from the statutory United States Federal income tax rate as follows:

	Year Ended December 31,
	2017			2016			2015
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	2.7			2.6			2.7
Federal Tax Credits	(0.8	)		(1.1	)		(0.5	)
Change in Valuation Allowance	(0.4	)		—			—
Tax Act Enactment - Remeasurement of net Deferred Tax Liabilities	(58.2	)		—			—
Other, net	(0.4	)		(0.3	)		(0.9	)
Effective Tax Rate	(22.1	)%		36.2	%		36.3	%

Summary of Activity Related to Uncertain Tax Positions

The following table summarizes the activity related to the Company’s uncertain tax positions:

	Year Ended December 31,
(In Thousands)	2017				2016				2015
Balance at January 1,	$	2,594			$	3,561			$	2,644
Additions Based on Tax Positions Related to the Current Year	456				258				331
Additions for Tax Positions of Prior Years	232				293				1,176
Prior Year Reductions	(236		)		(776		)		(1		)
Statute Expirations	(346		)		(609		)		(589		)
Settlements	(431		)		(133		)		—
Balance at December 31,	$	2,269			$	2,594			$	3,561

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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=84230637&loc=d3e32639-109319

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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=84230637&loc=d3e32537-109319

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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=84230637&loc=d3e32687-109319

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Tabular disclosure of the change in unrecognized tax benefits, excluding amounts pertaining to examined tax returns.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319

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