Income Taxes (Tables)
|
12 Months Ended |
Dec. 31, 2015 |
|---|
| Income Tax Disclosure [Abstract] |
|
| Domestic and Foreign Income Taxes |
The components of income before income taxes are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
2015 |
|
2014 |
|
2013 |
Domestic |
$ |
17,860 |
|
|
$ |
14,505 |
|
|
$ |
7,705 |
|
Foreign |
(17,568 |
) |
|
(8,213 |
) |
|
(4,946 |
) |
Income before provision for income taxes |
$ |
292 |
|
|
$ |
6,292 |
|
|
$ |
2,759 |
|
|
| Income Tax Provision (Benefit) |
The components of the provision (benefit) for income taxes are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
2015 |
|
2014 |
|
2013 |
Current: |
|
|
|
|
|
|
|
|
Federal |
$ |
224 |
|
|
$ |
(2,659 |
) |
|
$ |
10,114 |
|
State |
603 |
|
|
1,826 |
|
|
3,499 |
|
Foreign |
443 |
|
|
(814 |
) |
|
371 |
|
|
1,270 |
|
|
(1,647 |
) |
|
13,984 |
|
Deferred: |
|
|
|
|
|
|
|
|
Federal |
1,728 |
|
|
(3,263 |
) |
|
(10,315 |
) |
State |
134 |
|
|
574 |
|
|
(2,099 |
) |
Foreign |
(289 |
) |
|
245 |
|
|
(1,225 |
) |
|
1,573 |
|
|
(2,444 |
) |
|
(13,639 |
) |
|
$ |
2,843 |
|
|
$ |
(4,091 |
) |
|
$ |
345 |
|
|
| Deferred Income Tax Assets and Liabilities |
Deferred tax assets and liabilities consist of the following:
|
|
|
|
|
|
|
|
|
|
December 31, |
|
2015 |
|
2014 |
Deferred tax assets: |
|
|
|
|
|
Compensation accruals |
$ |
3,330 |
|
|
$ |
2,774 |
|
Reserves |
3,651 |
|
|
3,638 |
|
Other accruals |
2,252 |
|
|
2,893 |
|
Net operating losses |
8,220 |
|
|
7,498 |
|
Interest rate swaps |
1,804 |
|
|
1,715 |
|
Energy efficiency |
18,110 |
|
|
19,116 |
|
Deferred revenue |
1,479 |
|
|
1,769 |
|
Gross deferred income tax assets |
38,846 |
|
|
39,403 |
|
Valuation allowance |
(7,122 |
) |
|
(3,995 |
) |
Total deferred income tax assets |
$ |
31,724 |
|
|
$ |
35,408 |
|
Deferred tax liabilities: |
|
|
|
|
|
Depreciation |
$ |
(32,542 |
) |
|
$ |
(31,326 |
) |
Contract refinancing |
(304 |
) |
|
(437 |
) |
Canada |
(2,234 |
) |
|
(5,659 |
) |
United Kingdom |
(538 |
) |
|
(396 |
) |
Acquisition accounting |
(116 |
) |
|
(159 |
) |
Total deferred income tax liabilities |
(35,734 |
) |
|
(37,977 |
) |
Deferred income tax liabilities, net |
$ |
(4,010 |
) |
|
$ |
(2,569 |
) |
|
| Reconciliation of Effective Tax Rates |
The following is a reconciliation of the effective tax rates:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
2015 |
|
2014 |
|
2013 |
Income before income tax |
$ |
292 |
|
|
$ |
6,292 |
|
|
$ |
2,759 |
|
Federal statutory tax expense |
$ |
102 |
|
|
$ |
2,202 |
|
|
$ |
966 |
|
State income taxes, net of Federal benefit |
604 |
|
|
666 |
|
|
201 |
|
Net state impact of deferred rate change |
55 |
|
|
264 |
|
|
(69 |
) |
Non deductible expenses |
933 |
|
|
764 |
|
|
818 |
|
Impact of reserve for uncertain tax positions |
(1,772 |
) |
|
(977 |
) |
|
1,190 |
|
Stock-based compensation expense |
402 |
|
|
415 |
|
|
373 |
|
Energy efficiency preferences |
(3,280 |
) |
|
(9,517 |
) |
|
(3,280 |
) |
Foreign items and rate differential |
1,556 |
|
|
719 |
|
|
349 |
|
Valuation allowance |
4,255 |
|
|
1,408 |
|
|
(276 |
) |
Miscellaneous |
(12 |
) |
|
(35 |
) |
|
73 |
|
|
$ |
2,843 |
|
|
$ |
(4,091 |
) |
|
$ |
345 |
|
Effective tax rate: |
|
|
|
|
|
|
|
Federal statutory rate expense |
35.0 |
% |
|
35.0 |
% |
|
35.0 |
% |
State income taxes, net of Federal benefit |
206.8 |
% |
|
10.6 |
% |
|
7.3 |
% |
Net state impact of deferred rate change |
18.8 |
% |
|
4.2 |
% |
|
(2.5 |
)% |
Non deductible expenses |
319.5 |
% |
|
12.1 |
% |
|
29.6 |
% |
Impact of reserve for uncertain tax positions |
(606.8 |
)% |
|
(15.5 |
)% |
|
43.1 |
% |
Stock-based compensation expense |
137.7 |
% |
|
6.6 |
% |
|
13.5 |
% |
Energy efficiency preferences |
(1,123.3 |
)% |
|
(151.3 |
)% |
|
(118.9 |
)% |
Foreign items and rate differential |
532.9 |
% |
|
11.4 |
% |
|
12.6 |
% |
Valuation allowance |
1,457.2 |
% |
|
22.4 |
% |
|
(10.0 |
)% |
Miscellaneous |
(4.1 |
)% |
|
(0.6 |
)% |
|
2.6 |
% |
|
973.7 |
% |
|
(65.1 |
)% |
|
12.3 |
% |
|
| Unrecognized Tax Benefits |
A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows:
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
2015 |
|
2014 |
Balance, beginning of year |
$ |
3,700 |
|
|
$ |
9,200 |
|
Additions for prior year tax positions |
200 |
|
|
1,700 |
|
Settlements paid to tax authorities |
— |
|
|
— |
|
Reductions of prior year tax positions |
(1,700 |
) |
|
(7,200 |
) |
Balance, end of year |
$ |
2,200 |
|
|
$ |
3,700 |
|
|