Quarterly report pursuant to Section 13 or 15(d)

Income Taxes (Tables)

v3.8.0.1
Income Taxes (Tables)
9 Months Ended
Sep. 30, 2017
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
For interim periods, the provision for income taxes (including federal, state, local and foreign taxes) is calculated based on the estimated annual effective tax rate and for the three and nine months ended September 30, 2017 (Successor) consists of the following:
 
(in thousands)
 
Three months ended
September 30, 2017
 
Nine months ended
September 30, 2017
 
Current tax provision (benefit)
 
 
 
 
 
 
 
U.S. Federal
 
$
-
 
$
-
 
State and local
 
 
(3)
 
 
(3)
 
Total current tax provision (benefit)
 
 
(3)
 
 
(3)
 
 
 
 
 
 
 
 
 
Deferred tax provision (benefit)
 
 
 
 
 
 
 
U.S. Federal
 
 
222
 
 
(332)
 
State and local
 
 
109
 
 
(17)
 
Total deferred tax provision (benefit)
 
 
331
 
 
(349)
 
Income tax expense (benefit)
 
$
328
 
$
(352)
 
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
A reconciliation of the federal statutory income tax rate to the Company’s effective tax rate is as follows:
 
 
 
Nine months ended
September 30, 2017
 
Federal statutory income tax rate
 
 
34.0
%
State income taxes, net of federal tax effect
 
 
4.6
%
Nondeductible/nontaxable items
 
 
1.7
%
Tax credits
 
 
(2.3)
%
Effective tax rate
 
 
38.0
%