Rendering
Component: (Network and Table) |
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Network | 030060 - Disclosure - INCOME TAXES (Tables) (http://www.amedisys.com/role/INCOMETAXESTables) |
Table | (Implied) |
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis] | 0000896262 (http://www.sec.gov/CIK) |
Income Tax Disclosure [Abstract] | Period [Axis] |
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2016-01-01 - 2016-12-31 |
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Income Tax Disclosure [Abstract] | |
Income Tax Provision | Income taxes attributable to continuing operations consist of the following (amounts in millions): | | | | | | | | | | | | | | | | | | | For the Years Ended December 31, | | | | | | 2016 | | 2015 | | 2014 | | | Current income tax expense/(benefit): | | | | | | | | | | | | | Federal | | $ | (0.5) | | $ | 2.2 | | $ | (13.9) | | | | State and local | | | (0.1) | | | 0.5 | | | (1.1) | | | | | | | (0.6) | | | 2.7 | | | (15.0) | | | | | | | | | | | | | | | | Deferred income tax expense/(benefit): | | | | | | | | | | | | | Federal | | | 22.1 | | | (0.5) | | | 21.0 | | | | State and local | | | 2.4 | | | (0.1) | | | 1.6 | | | | Foreign | | | 0.0 | | | (0.1) | | | 0.1 | | | | | | | 24.5 | | | (0.7) | | | 22.7 | | | Income tax expense/(benefit) from continuing operations | | $ | 23.9 | | $ | 2.0 | | $ | 7.7 | | | | | | | | | | | | | | | Total income tax expense for the years ended December 31, 2016, 2015 and 2014 was allocated as follows (amounts in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Years Ended December 31, | | | | | | 2016 | | 2015 | | 2014 | | | Income from continuing operations | | $ | 23.9 | | $ | 2.0 | | $ | 7.7 | | | Income from discontinued operations | | | 0.0 | | | 0.0 | | | (0.1) | | | Interest expense | | | (0.1) | | | 0.2 | | | (0.1) | | | Goodwill | | | 0.0 | | | (0.1) | | | 0.0 | | | Stockholders' equity | | | (7.2) | | | (2.1) | | | 0.6 | | | | | | $ | 16.6 | | $ | 0.0 | | $ | 8.1 | |
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Sources of Tax Effects | | | | For the Years Ended December 31, | | | | | 2016 | | 2015 (1) | | 2014 | | | | | | | | | | | | | | | Income tax expense at U.S. federal statutory rate | | 35.0 | % | | 35.0 | % | | 35.0 | % | | | State and local income taxes, net of federal income tax benefit | | 4.8 | | | (7.1) | | | 5.8 | | | | Valuation allowance | | 0.1 | | | 79.1 | | | 1.5 | | | | Tax credits | | (0.6) | | | 136.0 | | | (8.4) | | | | Uncertain tax positions | | (1.0) | | | (230.3) | | | 0.6 | | | | Other items, net (2) | | 0.6 | | | (663.3) | | | 2.1 | | | | Income tax expense/(benefit) | | 38.9 | % | | (650.6) | % | | 36.6 | % | |
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Net Deferred Tax Assets | Deferred tax assets (liabilities) consist of the following components (amounts in millions): | | | | | | | | | | | As of December 31, | | | | | | 2016 | | | 2015 | | | Deferred tax assets: | | | | | | | | | Allowance for doubtful accounts | | $ | 6.9 | | $ | 6.4 | | | Accrued payroll & employee benefits | | | 11.4 | | | 5.1 | | | Workers' compensation | | | 10.9 | | | 9.8 | | | Amortization of intangible assets | | | 56.3 | | | 72.2 | | | Share-based compensation | | | 7.8 | | | 5.0 | | | Net operating loss carryforwards (1) | | | 44.2 | | | 48.5 | | | Tax credit carryforwards (2) | | | 4.8 | | | 4.7 | | | Other | | | 1.1 | | | 4.0 | | | Gross deferred tax assets | | | 143.4 | | | 155.7 | | | Less: valuation allowance | | | (0.4) | | | (0.3) | | | Net deferred tax assets | | | 143.0 | | | 155.4 | | | | | | | | | | | | Deferred tax (liabilities): | | | | | | | | | Property and equipment | | | (7.8) | | | (9.5) | | | Deferred revenue | | | (23.2) | | | (18.5) | | | Investment in partnerships | | | (3.2) | | | (0.2) | | | Other liabilities | | | (0.9) | | | (2.0) | | | Gross deferred tax (liabilities) | | | (35.1) | | | (30.2) | | | | | | | | | | | | Net deferred tax assets (liabilities) | | $ | 107.9 | | $ | 125.2 | | | | | | | | | | | (1) | The net operating loss ("NOL") carry forwards in the income tax returns include unrecognized tax benefits resulting from uncertain tax positions. Accordingly, the deferred tax assets recognized for the NOL carry forwards, as of December 31, 2016 and 2015, are presented net of unrecognized tax benefits of $3.1 million. | | | | | | | | | | | | | | | | | | | | | | | | | | (2) | The tax credit carry forwards in the income tax returns include unrecognized tax benefits resulting from uncertain tax positions. Accordingly, the deferred tax assets recognized for the tax credit carry forwards are presented net of unrecognized tax benefits of $0.7 million for each of the years ended December 31, 2016 and 2015. | | | | | | | | | | | | | | | | | | | | | | | | | |
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Classification of Deferred Tax Assets and Liabilities | |
Uncertain Tax Positions | | | | | | | | | | | Uncertain Tax Positions | | | | | | | | | | | We account for uncertain tax positions in accordance with the authoritative guidance for uncertain tax positions. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (amounts in millions): | | | | | | | | | | | | | | | For the Years Ended December 31, | | | | | | 2016 | | 2015 | | | Balance at beginning of period | | $ | 4.7 | | $ | 4.0 | | | | Additions for tax positions related to current year | | | 0 | | | 0 | | | | Additions for tax positions related to prior year | | | 0.0 | | | 1.0 | | | | Reductions for tax positions related to prior years | | | 0 | | | 0 | | | | Lapse of statute of limitations | | | (0.6) | | | (0.3) | | | | Settlements | | | 0 | | | 0 | | | Balance at end of period | | $ | 4.1 | | $ | 4.7 | |
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