| Income Tax Disclosure [Abstract] | Period [Axis] |
|---|
2015-12-01 - 2016-11-30 |
|---|
Income Tax Disclosure [Abstract] | |
Schedule of Income Tax Benefit (Expense) |
Income tax benefit (expense) consists of the following:
|
|
|
Year Ended |
|
|
Eleven Months Ended |
|
|
Year Ended |
|
|
|
|
November 30, |
|
|
November 30, |
|
|
December 28, |
|
|
(in thousands) |
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Income (loss) before income taxes |
|
$ |
12,813 |
|
|
$ |
(20,563 |
) |
|
$ |
(1,193 |
) |
|
Income tax expense: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Current tax expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
State |
|
|
(2 |
) |
|
|
(12 |
) |
|
|
(23 |
) |
|
Total current tax expense |
|
$ |
(2 |
) |
|
$ |
(12 |
) |
|
$ |
(23 |
) |
|
Deferred tax expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal |
|
$ |
(18,242 |
) |
|
$ |
(10,929 |
) |
|
$ |
— |
|
|
State |
|
|
— |
|
|
|
(1,562 |
) |
|
|
— |
|
|
Total deferred tax expense |
|
|
(18,242 |
) |
|
|
(12,491 |
) |
|
|
— |
|
|
Income tax expense |
|
$ |
(18,244 |
) |
|
$ |
(12,503 |
) |
|
$ |
(23 |
) |
|
Income Tax Expense Differs from Amounts Obtained by Applying Statutory U.S. Federal Tax Rate to Income Before Taxes |
The income tax expense differs from the amounts obtained by applying the statutory U.S. federal tax rate to income before taxes as shown below:
|
|
|
Year Ended |
|
|
Eleven Months Ended |
|
|
Year Ended |
|
|
|
|
November 30, |
|
|
November 30, |
|
|
December 28, |
|
|
(in thousands) |
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Statutory rate |
|
|
35 |
% |
|
|
35 |
% |
|
|
35 |
% |
|
Tax benefit (expense) at U.S. statutory rate |
|
$ |
(4,484 |
) |
|
$ |
7,197 |
|
|
$ |
418 |
|
|
Noncontrolling interest |
|
|
(9,495 |
) |
|
|
(10,201 |
) |
|
|
— |
|
|
Equity in Earnings |
|
|
(1,892 |
) |
|
|
(893 |
) |
|
|
— |
|
|
State income taxes |
|
|
(2,331 |
) |
|
|
(1,574 |
) |
|
|
(23 |
) |
|
Other |
|
|
(42 |
) |
|
|
(3 |
) |
|
|
— |
|
|
Deferred taxes not benefited |
|
|
— |
|
|
|
(7,029 |
) |
|
|
(418 |
) |
|
Total |
|
$ |
(18,244 |
) |
|
$ |
(12,503 |
) |
|
$ |
(23 |
) |
|
Effective tax rate |
|
|
142.4 |
% |
|
-60.8% |
|
|
|
-1.9 |
% |
|
Deferred Income Tax Liabilities and Assets |
The income tax effects of temporary differences giving rise to the Partnership's deferred income tax liabilities and assets are as follows:
|
|
|
Year Ended |
|
|
Eleven Months Ended |
|
|
Year Ended |
|
|
|
|
November 30, |
|
|
November 30, |
|
|
December 28, |
|
|
(in thousands) |
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
Deferred tax assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net operating loss carryforwards |
|
$ |
3,948 |
|
|
$ |
41 |
|
|
$ |
64,550 |
|
|
Deferred lease revenue |
|
|
— |
|
|
|
— |
|
|
|
1,084 |
|
|
Total deferred tax assets |
|
|
3,948 |
|
|
|
41 |
|
|
|
65,634 |
|
|
Valuation allowance |
|
|
— |
|
|
|
— |
|
|
|
(24,430 |
) |
|
Total deferred tax assets, net of valuation allowance |
|
|
3,948 |
|
|
|
41 |
|
|
|
41,204 |
|
|
Deferred tax liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Outside basis difference in partnership |
|
|
(34,681 |
) |
|
|
(12,544 |
) |
|
|
— |
|
|
Fixed asset basis difference |
|
|
— |
|
|
|
— |
|
|
|
(41,204 |
) |
|
Total deferred tax liabilities |
|
|
(34,681 |
) |
|
|
(12,544 |
) |
|
|
(41,204 |
) |
|
Net deferred tax asset (liability) |
|
$ |
(30,733 |
) |
|
$ |
(12,503 |
) |
|
$ |
— |
|
|