Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.8.0.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2017
Income Tax Disclosure [Abstract]  
Schedule of (income) loss before income taxes
The following table presents the (income) loss before income taxes for the periods presented (in thousands): 
 
 
For the Year Ended December 31,
 
 
2017
 
2016
 
2015
(Income) loss attributable to common stockholders
 
$
(156,663
)
 
$
(127,680
)
 
$
33,545

Loss attributable to noncontrolling interest and redeemable noncontrolling interests
 
411,259

 
394,988

 
220,660

Loss before income taxes
 
$
254,596

 
$
267,308

 
$
254,205

Schedule of income tax provision (benefit)
The income tax provision (benefit) consists of the following (in thousands):
 
 
For the Year Ended December 31,
 
 
2017
 
2016
 
2015
Current
 
 
 
 
 
 
Federal
 
$

 
$

 
$

State
 

 

 

Total current expense
 

 

 

Deferred
 
 
 
 
 
 
Federal
 
21,258

 
30,197

 
(7,516
)
State
 
10,880

 
5,796

 
2,217

Total deferred provision
 
32,138

 
35,993

 
(5,299
)
Total
 
$
32,138

 
$
35,993

 
$
(5,299
)
Schedule of reconciliation of the statutory federal rate
The following table represents a reconciliation of the statutory federal rate and the Company’s effective tax rate for the periods presented:
 
 
For the Year Ended December 31,
 
 
2017
 
2016
 
2015
Tax provision (benefit) at federal statutory rate
 
(34.00
)%
 
(34.00
)%
 
(34.00
)%
State income taxes, net of federal benefit
 
2.42

 
1.92

 
0.87

Effect of noncontrolling and redeemable noncontrolling interests
 
54.92

 
50.23

 
29.53

Stock-based compensation
 
0.75

 
0.68

 
1.06

Effect of prepaid tax asset
 

 
(5.57
)
 
0.04

Tax credits
 
(1.36
)
 
(1.61
)
 
(0.43
)
Effect of federal rate change
 
(12.53
)
 

 

Effect of valuation allowance
 
1.86

 
0.25

 

Other
 
0.56

 
1.56

 
0.85

Total
 
12.62
 %
 
13.46
 %
 
(2.08
)%
Schedule of deferred tax assets and liabilities
The following table represents significant components of the Company’s deferred tax assets and liabilities for the periods presented (in thousands): 
 
 
December 31,
 
 
2017
 
2016
Deferred tax assets
 
 
 
 
Accruals and prepaids
 
$
14,390

 
$
18,010

Deferred revenue
 
32,502

 
23,559

Net operating loss carryforwards
 
186,863

 
218,719

Stock-based compensation
 
4,994

 
6,908

Investment tax and other credits
 
24,580

 
18,454

Total deferred tax assets
 
263,329

 
285,650

Less: Valuation allowance
 
(5,386
)
 
(663
)
Gross deferred tax assets
 
257,943

 
284,987

Deferred tax liabilities
 
 
 
 
Capitalized initial direct costs
 
38,752

 
45,030

Fixed asset depreciation
 
173,175

 
206,754

Deferred tax on investment in partnerships
 
105,147

 
448,600

Gross deferred tax liabilities
 
317,074

 
700,384

Net deferred tax liabilities
 
$
(59,131
)
 
$
(415,397
)
Schedule of summarization of tax years
The following table summarizes the tax years that remain open and subject to examination by the tax authorities in the most significant jurisdictions in which the Company operates:
 
Tax Years
U.S. Federal
2014 - 2017
State
2013 - 2017