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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Provision for Income Taxes

The following table sets forth our provision for income taxes for the periods indicated:

		Years Ended December 31,
		2019				2018				2017
		(Thousands of dollars)
Current tax expense (benefit)
Federal		$	(1,278	)		$	260			$	295
State		963				1,633				1,670
Total current tax expense (benefit)		(315		)		1,893				1,965
Deferred tax expense
Federal		327,806				319,551				376,728
State		44,923				41,459				68,589
Total deferred tax expense		372,729				361,010				445,317
Total provision for income taxes		$	372,414			$	362,903			$	447,282

Reconciliation of Income Tax Provision

The following table is a reconciliation of our income tax provision for the periods indicated:

		Years Ended December 31,
		2019				2018				2017
		(Thousands of dollars)
Income before income taxes		$	1,650,991			$	1,517,935			$	1,040,801
Less: Net income attributable to noncontrolling interests		—				3,329				205,678
Net income attributable to ONEOK before income taxes		1,650,991				1,514,606				835,123
Federal statutory income tax rate		21.0		%		21.0		%		35.0		%
Provision for federal income taxes		346,708				318,067				292,293
State income taxes, net of federal benefit		34,545				38,668				16,197
Deferred tax rate change, inclusive of valuation allowance		11,340				5,552				141,283
Excess tax benefits from share-based compensation		(20,983		)		(4,644		)		—
Other, net		804				5,260				(2,491		)
Income tax provision		$	372,414			$	362,903			$	447,282

Schedule of Deferred Tax Assets and Liabilities

The following table sets forth the tax effects of temporary differences that gave rise to significant portions of the deferred tax assets and liabilities for the periods indicated:

		December 31, 2019				December 31, 2018
Deferred tax assets		(Thousands of dollars)
Employee benefits and other accrued liabilities		$	99,510			$	91,587
Federal net operating loss		858,030				420,318
State net operating loss and benefits		171,779				108,004
Derivative instruments		83,710				22,108
Other		12,769				13,378
Total deferred tax assets		1,225,798				655,395
Valuation allowance for state net operating loss and tax credits
Carryforward expected to expire prior to utilization		(94,794		)		(73,820		)
Net deferred tax assets		1,131,004				581,575
Deferred tax liabilities
Excess of tax over book depreciation		84,631				73,113
Investment in partnerships (a)		1,582,436				728,193
Total deferred tax liabilities		1,667,067				801,306
Net deferred tax assets (liabilities)		$	(536,063	)		$	(219,731	)

(a) Due primarily to excess of tax over book depreciation.

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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