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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2014
Income Tax Disclosure [Abstract] |
Reconciliation Between Statutory Federal Income Tax Rate and Effective Income Tax | Our income tax expense was $396.5 million for the year ended December 31, 2014 compared to $33.9 million in 2013 and $12.1 million in 2012. Reconciliation between the statutory federal income tax rate and our effective income tax rate is as follows:
| Year Ended December 31, |
| 2014 |  | 2013 |  |  | 2012 |
Federal statutory tax rate | 35.0 | % |  | 35.0 | % |  |  | 35.0 | %
State | 3.1 |  |  | (2.3 | ) |  |  | 0.7 |
State apportionment rate change | (0.2 | ) |  | (14.9 | ) |  |  | ¾ |
Non-deductible executive compensation | 0.2 |  |  | 0.7 |  |  |  | 1.4 |
Valuation allowances | 0.2 |  |  | 3.5 |  |  |  | 8.8 |
Other | 0.2 |  |  | 0.6 |  |  |  | 2.2 |
Consolidated effective tax rate | 38.5 | % |  | 22.6 | % |  |  | 48.1 | %
Income Tax Expense (Benefit) Attributable to Income Before Income Taxes | Income tax expense (benefit) attributable to income before income taxes consists of the following (in thousands):
|  |  | 2014 |  |  |  | 2013 |  |  |  | 2012 |
|  |  | Current |  |  | Deferred |  |  | Total |  |  | Current |  |  | Deferred |  |  | Total |  |  | Current |  |  | Deferred |  |  | Total |
U.S. federal |  | $ | ¾ |  |  | $ | 361,152 |  |  | $ | 361,152 |  |  | $ | ¾ |  |  | $ | 58,527 |  |  | $ | 58,527 |  |  | $ | — |  |  | $ | 11,873 |  |  | $ | 11,873 |
U.S. state and local |  |  | 1 |  |  |  | 35,350 |  |  |  | 35,351 |  |  |  | (143 | ) |  |  | (24,527 | ) |  |  | (24,670 | ) |  |  | (1,778 | ) |  |  | 1,959 |  |  |  | 181 |
Total |  | $ | 1 |  |  | $ | 396,502 |  |  | $ | 396,503 |  |  | $ | (143 | ) |  | $ | 34,000 |  |  | $ | 33,857 |  |  | $ | (1,778 | ) |  | $ | 13,832 |  |  | $ | 12,054 |
Significant Components of Deferred Tax Assets and Liabilities | Significant components of deferred tax assets and liabilities are as follows:
| December 31, |
| 2014 |  |  | 2013 |
| (in thousands) |
Deferred tax assets: |  |  |  |  |  |  |
Current |  |  |  |  |  |  |
Deferred compensation | $ | 9,286 |  |  | $ | 9,128 |
Current portion of asset retirement obligation |  | 5,745 |  |  |  | 1,854 |
Cumulative mark-to-market loss |  | 584 |  |  |  | 15,193 |
Net operating loss carryforward |  | — |  |  |  | 23,079 |
Other |  | 9,921 |  |  |  | 7,936 |
Total current |  | 25,536 |  |  |  | 57,190 |
Non-current |  |  |  |  |  |  |
Net operating loss carryforward |  | 176,812 |  |  |  | 57,266 |
Deferred compensation |  | 64,656 |  |  |  | 91,094 |
Equity compensation |  | 25,833 |  |  |  | 22,800 |
AMT credits and other credits |  | 4,447 |  |  |  | 4,122 |
Non-current portion of asset retirement obligation |  | 104,063 |  |  |  | 86,126 |
Cumulative mark-to-market loss |  | 65 |  |  |  | ¾ |
Other |  | 987 |  |  |  | 1,116 |
Valuation allowance |  | (16,599 | ) |  |  | (14,781 | )
Total non-current |  | 360,264 |  |  |  | 247,743 |
Deferred tax liabilities: |  |  |  |  |  |  |
Current |  |  |  |  |  |  |
Net gain in AOCI related to hedge derivatives |  | — |  |  |  | (3,987 | )
Other |  | (2,350 | ) |  |  | (1,789 | )
Cumulative mark-to-market gain |  | (138,773 | ) |  |  | ¾ |
Total current |  | (141,123 | ) |  |  | (5,776 | )
Non-current |  |  |  |  |  |  |
Depreciation, depletion and investments |  | (1,342,039 | ) |  |  | (1,010,757 | )
Cumulative mark-to-market gain |  | (15,410 | ) |  |  | (6,424 | )
Other |  | (310 | ) |  |  | (2,542 | )
Total non-current |  | (1,357,759 | ) |  |  | (1,019,723 | )
Net deferred tax liability | $ | (1,113,082 | ) |  | $ | (720,566 | )

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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
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