Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.10.0.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2018
Income Taxes  
Schedule of income tax expense

 

 

 

 

 

 

 

 

 

 

 

Years ended December 31,

 

 

 

2018

 

2017

 

2016

 

 

 

amounts in thousands

 

Current:

    

 

 

    

 

    

 

 

Federal

 

$

 —

 

(11)

 

1,556

 

State and local

 

 

(355)

 

(84)

 

853

 

 

 

 

(355)

 

(95)

 

2,409

 

Deferred:

 

 

 

 

 

 

 

 

Federal

 

 

(17,501)

 

(301,837)

 

(493,890)

 

State and local

 

 

(4,068)

 

(115,001)

 

(66,888)

 

 

 

 

(21,569)

 

(416,838)

 

(560,778)

 

Income tax benefit (expense)

 

$

(21,924)

 

(416,933)

 

(558,369)

 

 

Schedule of income tax expense reconciliation to the effective tax rate

 

 

 

 

 

 

 

 

 

 

 

Years ended December 31,

 

 

 

2018

 

2017

 

2016

 

 

 

amounts in thousands

 

Computed expected tax benefit (expense)

    

$

(19,294)

    

(857,710)

    

(516,485)

 

State and local taxes, net of federal income taxes

 

 

(3,831)

 

(74,805)

 

(42,995)

 

Foreign taxes, net of foreign tax credit

 

 

 —

 

 —

 

(1,180)

 

Change in valuation allowance

 

 

380

 

(1,208)

 

683

 

Dividends received deduction

 

 

 —

 

 —

 

931

 

Change in tax rate - other

 

 

(27)

 

 —

 

45

 

Change in tax rate - U.S. tax reform

 

 

 —

 

515,773

 

 —

 

Derivative instrument

 

 

768

 

1,084

 

396

 

Other

 

 

80

 

(67)

 

236

 

Income tax (expense) benefit

 

$

(21,924)

 

(416,933)

 

(558,369)

 

 

Schedule of deferred tax assets and liabilities

 

 

 

 

 

 

 

 

 

December 31,

 

 

 

2018

 

2017

 

 

 

amounts in thousands

 

Deferred tax assets:

    

 

    

    

    

 

Tax loss and tax credit carryforwards

 

$

56,056

 

49,555

 

Accrued stock-based compensation

 

 

5,571

 

4,275

 

Deferred revenue

 

 

1,430

 

1,805

 

Other

 

 

44

 

64

 

Total deferred tax assets

 

 

63,101

 

55,699

 

Less: valuation allowance

 

 

(7,773)

 

(8,153)

 

Net deferred tax assets

 

 

55,328

 

47,546

 

Deferred tax liabilities:

 

 

 

 

 

 

Investments

 

 

(1,020,869)

 

(979,522)

 

Intangible assets

 

 

(261)

 

(617)

 

Other

 

 

(27)

 

 —

 

Total deferred tax liabilities

 

 

(1,021,157)

 

(980,139)

 

Net deferred tax asset (liability)

 

$

(965,829)

 

(932,593)