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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Summary of Income Tax Expense (Benefit) | Income tax expense is summarized as follows:
| Year Ended December 31,
(In thousands) | 2020 |  | 2019 |  | 2018
Current |  |  |  |  |
Federal | $ | (31,838) |  |  | $ | (29,584) |  |  | $ | (95,191) |
State | 655 |  |  | 4,320 |  |  | 6,682 |
| (31,183) |  |  | (25,264) |  |  | (88,509) |
Deferred |  |  |  |  |
Federal | 67,451 |  |  | 233,136 |  |  | 230,643 |
State | 4,326 |  |  | 11,282 |  |  | (1,040) |
| 71,777 |  |  | 244,418 |  |  | 229,603 |
Income tax expense | $ | 40,594 |  |  | $ | 219,154 |  |  | $ | 141,094 |
Schedule of Reconciliation of Income Tax Expense (Benefit) Computed by Applying Statutory Federal Income Tax Rate | Income tax expense was different than the amounts computed by applying the statutory federal income tax rate as follows:
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
(In thousands, except rates) | Amount |  | Rate |  | Amount |  | Rate |  | Amount |  | Rate
Computed "expected" federal income tax | $ | 50,636 |  |  | 21.00 | % |  | $ | 189,047 |  |  | 21.00 | % |  | $ | 146,609 |  |  | 21.00 | %
State income tax, net of federal income tax benefit | 4,486 |  |  | 1.86 | % |  | 14,773 |  |  | 1.64 | % |  | 11,850 |  |  | 1.70 | %
Deferred tax adjustment related to change in overall state tax rate | 1,213 |  |  | 0.50 | % |  | (660) |  |  | (0.07) | % |  | (15,208) |  |  | (2.18) | %
Valuation allowance | (3,800) |  |  | (1.58) | % |  | 17,676 |  |  | 1.96 | % |  | 8,975 |  |  | 1.29 | %
Excess executive compensation | 5,249 |  |  | 2.18 | % |  | 1,935 |  |  | 0.21 | % |  | 1,382 |  |  | 0.20 | %
Reserve on uncertain tax positions | 5,964 |  |  | 2.47 | % |  | 5 |  |  | — | % |  | — |  |  | — | %
Tax credits generated | (23,216) |  |  | (9.63) | % |  | — |  |  | — | % |  | — |  |  | — | %
Tax Act | — |  |  | — | % |  | — |  |  | — | % |  | (11,367) |  |  | (1.63) | %
Other, net | 62 |  |  | 0.04 | % |  | (3,622) |  |  | (0.40) | % |  | (1,147) |  |  | (0.16) | %
Income tax expense | $ | 40,594 |  |  | 16.84 | % |  | $ | 219,154 |  |  | 24.34 | % |  | $ | 141,094 |  |  | 20.21 | %
Schedule of Composition of Net Deferred Tax Liabilities | The composition of net deferred tax liabilities is as follows:
| December 31,
(In thousands) | 2020 |  | 2019
Deferred Tax Assets |  |  |
Net operating losses | $ | 22,177 |  |  | $ | 22,360 |
Alternative minimum tax credits | — |  |  | 22,120 |
Incentive compensation | 16,427 |  |  | 17,776 |
Deferred compensation | 5,753 |  |  | 5,463 |
Post-retirement benefits | 7,482 |  |  | 7,847 |
Equity method investments | — |  |  | 21,454 |
Capital loss carryforward | 16,486 |  |  | — |
Leases | 7,709 |  |  | 8,192 |
Other | 3,267 |  |  | 1,336 |
Less: valuation allowance | (28,231) |  |  | (31,763) |
Total | 51,070 |  |  | 74,785 |
Deferred Tax Liabilities |  |  |
Properties and equipment | 809,919 |  |  | 768,692 |
Equity method investments | 1,649 |  |  | — |
Leases | 7,709 |  |  | 8,192 |
Derivative instruments | 5,988 |  |  | 5 |
Total | 825,265 |  |  | 776,889 |
Net deferred tax liabilities | $ | 774,195 |  |  | $ | 702,104 |
Schedule of Reconciliation of Unrecognized Tax Benefits | A reconciliation of unrecognized tax benefits is as follows:
|  | Year Ended December 31,
(In thousands) |  | 2020 |  | 2019 |  | 2018
Balance at beginning of year |  | $ | 520 |  |  | $ | 16,850 |  |  | $ | 663 |
Additions for tax positions of current year |  | 499 |  |  | — |  |  | — |
Additions for tax positions of prior years |  | 5,465 |  |  | — |  |  | 16,187 |
Reductions for tax positions of prior years |  | — |  |  | (16,330) |  |  | — |
Balance at end of year |  | $ | 6,484 |  |  | $ | 520 |  |  | $ | 16,850 |

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