Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v2.4.1.9
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2014
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
Income tax provision included in our reported net loss consisted of the following (in thousands): 
 
 
Year Ended December 31,
 
 
2014
 
2013
 
2012
Current:
 
 
 
 
 
 
Federal
 
$

 
$

 
$

State
 

 

 

Foreign
 
4,143

 
4,082

 
145

Total current
 
4,143

 
4,082

 
145

 
 
 
 
 
 
 
Deferred:
 
 
 
 
 
 
Federal
 

 

 

State
 

 

 

Foreign
 

 
258

 
(141
)
Total deferred
 

 
258

 
(141
)
Total income tax provision
 
$
4,143

 
$
4,340

 
$
4

Schedule of Effective Income Tax Rate Reconciliation
The reconciliation of the federal statutory income tax rate to our effective income tax rate is as follows: 
 
 
Year Ended December 31,
 
 
2014
 
2013
 
2012
U.S. federal statutory tax rate
 
35.0
 %
 
35.0
 %
 
35.0
 %
Non-controlling interest
 
(4.8
)%
 
(3.3
)%
 
(1.4
)%
State tax benefit
 
4.3
 %
 
4.5
 %
 
2.7
 %
Uncertain tax position
 
(12.5
)%
 
 %
 
 %
Net impact of non-U.S. taxes
 
(2.0
)%
 
(0.8
)%
 
 %
Valuation allowance
 
(19.8
)%
 
(34.3
)%
 
(33.2
)%
Other
 
(0.6
)%
 
(1.9
)%
 
(3.1
)%
Effective tax rate as reported
 
(0.4
)%
 
(0.8
)%
 
 %
Schedule of Deferred Tax Assets and Liabilities
Significant components of our deferred tax assets and liabilities at December 31, 2014 and 2013 are as follows (in thousands): 
 
 
December 31,
 
 
2014
 
2013
Deferred tax assets
 
 
 
 
Net operating loss carryforwards
 
 
 
 
Federal
 
$
637,919

 
$
608,631

State
 
136,917

 
111,624

Book deferred gain
 
77,182

 
77,182

Share-based compensation expense
 
28,432

 
24,089

Property, plant and equipment
 
29,483

 
27,260

Other
 
15,464

 
3,931

Total deferred tax assets
 
$
925,397

 
$
852,717

 
 
 
 
 
Deferred tax liabilities
 
 

 
 

Investment in limited partnership
 
$
(46,601
)
 
$
(109,884
)
Other
 

 
(142
)
Total deferred tax liabilities
 
$
(46,601
)
 
$
(110,026
)
 
 
 
 
 
Net deferred tax assets
 
878,796

 
742,691

Less: net deferred tax asset valuation allowance
 
(878,796
)
 
(742,691
)
Total net deferred tax asset
 
$

 
$


Summary of Income Tax Contingencies
Changes in the balance of unrecognized tax benefits are as follows (in thousands): 
 
Year Ended December 31,
 
2014
 
2013
Balance at beginning of the year
$
19,484

 
$
19,773

Additions based on tax positions related to current year
85,932

 

Additions for tax positions of prior years

 
2,162

Reductions for tax positions of prior years
(925
)
 
(2,451
)
Settlements

 

Balance at end of the year
$
104,491

 
$
19,484