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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Reconciliation Between Statutory Federal Income Tax Rate and Effective Income Tax | Our income tax benefit was $280.8 million for the year ended December 31, 2016 compared to income tax benefit of $338.7 million in 2015 and income tax expense of $396.5 million in 2014. Reconciliation between the statutory federal income tax rate and our effective income tax rate is as follows:
| Year Ended December 31, |
| 2016 |  | 2015 |  |  | 2014 |
Federal statutory tax rate | 35.0 | % |  | 35.0 | % |  |  | 35.0 | %
State | 3.0 |  |  | 4.3 |  |  |  | 3.1 |
State apportionment rate change | 1.0 |  |  | (0.2 | ) |  |  | (0.2 | )
Non-deductible executive compensation | (0.2 | ) |  | (0.1 | ) |  |  | 0.2 |
Non-deductible MRD transaction costs | (0.6 | ) |  | — |  |  |  | — |
Valuation allowances | (2.5 | ) |  | (6.8 | ) |  |  | 0.2 |
Deficits in equity compensation | (0.7 | ) |  | — |  |  |  | — |
Other | — |  |  | — |  |  |  | 0.2 |
Consolidated effective tax rate | 35.0 | % |  | 32.2 | % |  |  | 38.5 | %
Income Tax (Benefit) Expense Attributable to Income Before Income Taxes | Income tax (benefit) expense attributable to income before income taxes consists of the following (in thousands):
|  |  | 2016 |  |  |  | 2015 |  |  |  | 2014 |
|  |  | Current |  |  | Deferred |  |  | Total |  |  | Current |  |  | Deferred |  |  | Total |  |  | Current |  |  | Deferred |  |  | Total |
U.S. federal |  | $ | — |  |  | $ | (266,105 | ) |  | $ | (266,105 | ) |  | $ | — |  |  | $ | (328,257 | ) |  | $ | (328,257 | ) |  | $ | — |  |  | $ | 361,152 |  |  | $ | 361,152 |
U.S. state and local |  |  | 98 |  |  |  | (14,743 | ) |  |  | (14,645 | ) |  |  | 29 |  |  |  | (10,449 | ) |  |  | (10,420 | ) |  |  | 1 |  |  |  | 35,350 |  |  |  | 35,351 |
Total |  | $ | 98 |  |  | $ | (280,848 | ) |  | $ | (280,750 | ) |  | $ | 29 |  |  | $ | (338,706 | ) |  | $ | (338,677 | ) |  | $ | 1 |  |  | $ | 396,502 |  |  | $ | 396,503 |
Significant Components of Deferred Tax Assets and Liabilities | Significant components of deferred tax assets and liabilities are as follows:
| December 31, |
| 2016 |  |  | 2015 |
| (in thousands) |
Deferred tax assets: |  |  |  |  |  |  |
Net operating loss carryforward | $ | 478,203 |  |  | $ | 173,503 |
Deferred compensation |  | 50,808 |  |  |  | 45,413 |
Equity compensation |  | 29,528 |  |  |  | 25,940 |
AMT credits and other credits |  | 13,644 |  |  |  | 4,437 |
Asset retirement obligation |  | 99,000 |  |  |  | 101,142 |
Cumulative mark-to-market loss |  | 73,404 |  |  |  | — |
Other |  | 39,922 |  |  |  | 10,163 |
Valuation allowances: |  |  |  |  |  |  |
Federal |  | (43,600 | ) |  |  | (42,500 | )
State, net of federal benefit |  | (58,424 | ) |  |  | (41,516 | )
Deferred compensation plans and other |  | (5,150 | ) |  |  | (3,607 | )
Total deferred tax assets |  | 677,335 |  |  |  | 272,975 |
Deferred tax liabilities: |  |  |  |  |  |  |
Depreciation, depletion and investments |  | (1,619,922 | ) |  |  | (940,482 | )
Cumulative mark-to-market gain |  | — |  |  |  | (109,845 | )
Other |  | (756 | ) |  |  | (595 | )
Total deferred tax liabilities |  | (1,620,678 | ) |  |  | (1,050,922 | )
Net deferred tax liability | $ | (943,343 | ) |  | $ | (777,947 | )
Change in Deferred Tax Asset Valuation Allowances | The change in our deferred tax asset valuation allowances are as follows (in thousands):
|  | 2016 |  |  |  | 2015 |  |  |  | 2014 |
Balance at the beginning of the year | $ | (87,623 | ) |  | $ | (16,599 | ) |  | $ | (14,781 | )
Charged to provision for income taxes: |  |  |  |  |  |  |  |  |  |  |
State net operating loss carryforwards |  | (17,374 | ) |  |  | (30,457 | ) |  |  | (5,800 | )
Federal net operating carryforwards |  | (1,100 | ) |  |  | (42,500 | ) |  |  | — |
Other state valuation allowances |  | 500 |  |  |  | (1,050 | ) |  |  | — |
Other federal valuation allowances |  | (477 | ) |  |  | (511 | ) |  |  | 363 |
Rabbi trust valuation allowance |  | (1,066 | ) |  |  | 3,494 |  |  |  | 3,619 |
Other |  | (34 | ) |  |  | — |  |  |  | — |
Balance at the end of the year | $ | (107,174 | ) |  | $ | (87,623 | ) |  | $ | (16,599 | )

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