v2.4.0.6
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2011
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
The provision (benefit) for taxes on income consisted of the following (in thousands):
 
 
2011
 
2010
 
2009
Current:
 
 
 
 
 
 
   Federal
 
$
—

 
$
—

 
$
(1,191
)
   State
 
3,729

 
3,401

 
(22,135
)
 
 
3,729

 
3,401

 
(23,326
)
Deferred:
 
 
 
 
 
 
   Federal
 
162,695

 
105,090

 
95,377

   State
 
11,922

 
10,388

 
14,784

 
 
174,617

 
115,478

 
110,161

Provision for income taxes
 
$
178,346

 
$
118,879

 
$
86,835
Schedule of Effective Income Tax Rate Reconciliation
A reconciliation of income taxes computed at the United States federal statutory income tax rate (35%) to the provision for income taxes reflected in the consolidated statements of income and comprehensive income for the years ended December 31, 2011, 2010 and 2009 is as follows (in thousands):
 
 
2011
 
2010
 
2009
U.S. federal income tax provision at statutory rate
 
$
167,880

 
$
109,303

 
$
92,288

Increase (decrease) in income taxes resulting from:
 
 
 
 
 
 
   State income taxes, net of federal income tax impact
 
14,408

 
15,319

 
11,500

   Change in valuation allowance
 
652

 
—

 
816

   Provision (benefit) for tax uncertainties
 
434

 
267

 
(16,279
)
   Permanent items
 
330

 
710

 
1,087

   Tax credits
 
(4,809
)
 
(6,893
)
 
(2,076
)
   Other
 
(549
)
 
173

 
(501
)
Provision for income taxes
 
$
178,346

 
$
118,879

 
$
86,835
Schedule of Deferred Tax Assets and Liabilities
Deferred taxes are provided for those items reported in different periods for income tax and financial reporting purposes. The Company's net deferred tax liability consisted of the following deferred tax assets and liabilities (in thousands):
 
 
2011
 
2010
Deferred tax assets:
 
 
 
 
Net operating loss carryforward
 
$
604,402

 
$
361,617

Deferred revenue
 
17,065

 
19,050

Allowance for uncollectible accounts
 
—

 
1,154

Deferred rent
 
38,963

 
33,420

Deferred compensation
 
57,594

 
56,157

Asset retirement obligation
 
6,479

 
4,770

Credit carryforwards
 
18,081

 
12,747

Other comprehensive loss
 
7,493

 
3,171

Capital loss limitation
 
7,388

 
7,410

Transaction taxes
 
3,896

 
5,498

Unrealized loss on investments
 
39,751

 
39,871

Other
 
13,126

 
14,779

Gross deferred tax assets
 
814,238

 
559,644

Valuation allowance
 
(47,810
)
 
(47,158
)
Total deferred tax assets, net
 
766,428

 
512,486

Deferred tax liabilities:
 
 
 
 
Depreciation
 
(1,030,016
)
 
(655,566
)
Deferred costs
 
(28,976
)
 
(32,332
)
FCC licenses
 
(370,082
)
 
(326,954
)
Partnership interest
 
(142,439
)
 
(130,679
)
Other
 
(4,807
)
 
(3,723
)
Deferred tax liabilities
 
(1,576,320
)
 
(1,149,254
)
Net deferred tax liability
 
$
(809,892
)
 
$
(636,768
)

Deferred tax assets and liabilities at December 31, 2011 and 2010 are as follows (in thousands):
 
 
2011
 
2010
Current deferred tax asset
 
$
7,214

 
$
6,290

Non-current deferred tax liability
 
(817,106
)
 
(643,058
)
Net deferred tax liability
 
$
(809,892
)
 
$
(636,768
)
Reconciliation Gross Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount of gross unrecognized tax benefits are as follows (in thousands):
 
 
2011
 
2010
 
2009
Balance at beginning of period
 
$
6,084

 
$
6,084

 
$
19,328

Increases for tax provisions taken during a prior period
 
—

 
—

 
—

Increases for tax provisions taken during the current period
 
—

 
—

 
—

Decreases relating to settlements
 
—

 
—

 
—

Decreases resulting from the expiration of the statute of limitations
 
—

 
—

 
(13,244
)
Balance at end of period
 
$
6,084

 
$
6,084

 
$
6,084