Cash America 2015 Annual Report Download - page 113

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12. Income Taxes
ThecomponentsoftheCompany’sdeferredtaxassetsandliabilitiesasofDecember31,2015and2014
wereasfollows(dollarsinthousands):
AsofDecember31,
2015 2014
Deferred tax assets:
Deferred finish-out allowances from lessors $ 226 $ 157
Tax over book accrual of pawn loan fees and service charges 4,903 4,752
Allowance for consumer loan losses 1,768 1,778
Deferred compensation 12,941 8,524
Deferred state credits and net operating losses 2,334 1,358
Other 1,540 2,548
Total deferred tax assets 23,712 19,117
Deferred tax liabilities:
Amortizable intangible assets $ 54,264 $ 46,551
Property and equipment 23,694 32,359
Investment in equity securities 7,828 39,294
Other 1,156 1,165
Total deferred tax liabilities 86,942 119,369
Net deferred tax liabilities before valuation allowance $ (63,230) $ (100,252)
Valuation allowance (1,142) —
Net deferred tax liabilities after valuation allowance $ (64,372) (100,252)
Balance sheet classification:
Current deferred tax assets (liabilities) $ 7,672 $ (27,820)
Noncurrent deferred tax liabilities (72,044) (72,432)
Net deferred tax liabilities $ (64,372) $ (100,252)
The components of the provision for income taxes and the income to which it relates for the years ended
December31,2015,2014and2013,wereasfollows(dollarsinthousands):
Year Ended December 31,
2015 2014 2013
Income (loss) from continuing operations before income taxes:
Domestic $ 43,044 $ (7,938) $ 47,475
Foreign —(408) (3,490)
Income (loss) from continuing operations before income taxes 43,044 (8,346)43,985
Current provision (benefit):
Federal $ 19,741 $ (12,823) $ (20,908)
Foreign —531 (752)
State and local 118 1,291 2,098
Total current provision (benefit) for income taxes 19,859 (11,001) (19,562)
Deferred (benefit) provision:
Federal $ (4,524) $ 12,962 $ 3,740
State and local 143 80 317
Total deferred (benefit) provision for income taxes (4,381) 13,042 4,057
Total provision (benefit) for income taxes $ 15,478 $ 2,041 $ (15,505)
CASH AMERICA INTERNATIONAL, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
109