Rendering

Component: (Network and Table)
Network
2307301 - Disclosure - Income Taxes Income Taxes (Tables)
(http://www.atlas-fin.com/role/IncomeTaxesIncomeTaxesTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Income Tax Disclosure [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Income Tax Disclosure [Abstract]
 
Schedule of Effective Income Tax Rate Reconciliation
Atlas' effective tax rate was (416.8)%, 34.5%, and (48.3)% for the years ended December 31, 2016, 2015, and 2014, respectively. The table below reconciles the U.S. statutory marginal income tax rate to the effective tax rate ($ in '000s):
Year Ended December 31,
2016
 
2015
 
2014
 
Amount
 
%
 
Amount
 
%
 
Amount
 
%
Provision for taxes at U.S. statutory marginal income tax rate
$
179

 
35.0
 %
 
$
7,716

 
35.0
 %
 
$
4,058

 
34.0
 %
Provision for deferred tax assets deemed unrealizable (valuation allowance)
—

 
—
 %
 
—

 
—
 %
 
(9,446
)
 
(79.1
)%
Nondeductible expenses
24

 
4.7
 %
 
124

 
0.6
 %
 
136

 
1.1
 %
Tax-exempt income
(39
)
 
(7.6
)%
 
(89
)
 
(0.4
)%
 
—

 
—
 %
State tax (net of federal benefit)
28

 
5.5
 %
 
118

 
0.5
 %
 
11

 
0.1
 %
Tax net operating loss limitation write-down (excluding valuation allowance)
—

 
—
 %
 
—

 
—
 %
 
(519
)
 
(4.3
)%
Nondeductible acquisition accounting adjustment
(2,204
)
 
(430.5
)%
 
329

 
1.5
 %
 
—

 
—
 %
Change in statutory tax rate
—

 
—
 %
 
(471
)
 
(2.1
)%
 
—

 
—
 %
Other
(122
)
 
(23.9
)%
 
(111
)
 
(0.6
)%
 
(7
)
 
(0.1
)%
Provision for income taxes for continuing operations
$
(2,134
)
 
(416.8
)%
 
$
7,616

 
34.5
 %
 
$
(5,767
)
 
(48.3
)%
 
 
Schedule of Components of Income Tax Expense (Benefit)
Income tax (benefit) expense consists of the following for the years ended December 31, 2016, 2015, and 2014 ($ in '000s):
Year Ended December 31,
2016
2015
2014
Current tax (benefit) expense
$
(2,586
)
$
7,790

$
3,009

Deferred tax expense (benefit), net of change in valuation allowance
452

(174
)
(8,776
)
Total
$
(2,134
)
$
7,616

$
(5,767
)
 
 
Schedule of Deferred Tax Assets and Liabilities
The components of deferred income tax assets and liabilities as of December 31, 2016 and December 31, 2015 are as follows ($ in '000s):
 
December 31, 2016
December 31, 2015
Deferred tax assets:
 
 
Losses carried forward
$
14,535

$
12,656

Unpaid claims liabilities and unearned premiums
8,546

8,122

Tax credits
662

662

Investments
—

36

Commissions
1,269

1,306

All other
2,184

1,457

Total gross deferred tax assets
27,196

24,239

 
 
 
Deferred tax liabilities:
 
 
Deferred policy acquisition costs
4,628

3,582

Investments
475

—

Fixed assets
559

401

Intangible assets
1,328

1,465

All other
1,708

1,625

Total gross deferred tax liabilities
8,698

7,073

Net deferred tax assets
$
18,498

$
17,166

 
 
Summary of Operating Loss Carryforwards
Amounts and expiration dates of the operating loss carryforwards as of December 31, 2016 are as follows ($ in '000s):
Year of Occurrence
Year of Expiration
Amount
2001
2021
$
5,007

2002
2022
4,317

2006
2026
7,825

2007
2027
5,131

2008
2028
1,949

2009
2029
1,949

2010
2030
1,949

2011
2031
4,166

2012
2032
9,235

2015
2035
1

Total
 
$
41,529