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F-23
with acquisitions and dispositions, respectively. In addition, our advertiser, content creation and distribution partner
agreements contain certain indemnification provisions, which are generally consistent with those prevalent in our
industry. We have not incurred significant obligations under indemnification provisions historically, and do not expect to
incur significant obligations in the future. Accordingly, we have not recorded any liability for these indemnities.
9. Income Taxes
Income (loss) before income taxes from continuing operations consisted of the following (in thousands):
2015
2014
2013
Domestic ..............................................
$
(43,518)
$
(267,758)
$
(11,555)
Foreign ................................................
72
(3,104)
193
Loss from continuing operation before income taxes..........
$
(43,446)
$
(270,862)
$
(11,362)
The income tax benefit (expense) from continuing operations consisted of the following (in thousands):
2015
2014
2013
Current (expense) benefit:
Federal ................................................
$
—
$
—
$
—
State ..................................................
(32)
(58)
(276)
International ............................................
(23)
(99)
(69)
Deferred (expense) benefit:
Federal ................................................
—
14,028
(2,136)
State ..................................................
—
831
(398)
International ............................................
—
11
23
Total income tax benefit (expense) from continuing operations .
$
(55)
$
14,713
$
(2,856)
The reconciliation of the federal statutory income tax rate of 35% to our effective income tax rate from continuing
operations is as follows (in thousands):
2015
2014
2013
Expected income tax benefit (expense) at U.S. statutory rate ....
$
15,198
$
94,801
$
3,977
Difference between U.S. and foreign taxes ...................
6
21
12
State tax (expense) benefit, net of federal taxes ...............
983
4,828
(131)
Non-deductible stock-based compensation ...................
(982)
(3,845)
(2,832)
Meals and entertainment ..................................
(135)
(129)
(266)
Goodwill impairment ....................................
—
(25,841)
—
Non-deductible officer compensation .......................
—
(43)
—
Change in statutory state tax rate ..........................
(1,604)
(865)
(253)
Federal impact of state deferred taxes .......................
—
—
110
Valuation allowance .....................................
(13,509)
(53,463)
(3,648)
Other ..................................................
(12)
(751)
175
Total income tax expense from continuing operations .........
$
(55)
$
14,713
$
(2,856)