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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Reconciliation Between Statutory Federal Income Tax Rate and Effective Income Tax | Our income tax benefit was $500.3 million for the year ended December 31, 2019 compared to $30.5 million in 2018 and $251.0 million in 2017. Reconciliation between the statutory federal income tax rate and our effective income tax rate is as follows:
| Year Ended December 31, |
| 2019 |  | 2018 |  |  | 2017 |
Federal statutory tax rate | 21.0 | % |  | 21.0 | % |  |  | 35.0 | %
Federal rate change | — |  |  | — |  |  |  | (406.7 | )
State | 3.8 |  |  | (0.3 | ) |  |  | (0.7 | )
State rate and law change | 1.8 |  |  | 0.9 |  |  |  | (1.3 | )
Non-deductible executive compensation | — |  |  | — |  |  |  | 0.7 |
Valuation allowances | (3.8 | ) |  | (0.4 | ) |  |  | 36.8 |
Equity compensation | (0.2 | ) |  | (0.1 | ) |  |  | 30.2 |
Goodwill impairment | — |  |  | (19.4 | ) |  |  | — |
Other | — |  |  | — |  |  |  | 0.3 |
Consolidated effective tax rate | 22.6 | % |  | 1.7 | % |  |  | (305.7 | %)
Income Tax (Benefit) Expense Attributable to (Loss) Income Before Income Taxes | Income tax (benefit) expense attributable to (loss) income before income taxes consists of the following (in thousands):
|  |  | 2019 |  |  |  | 2018 |  |  |  | 2017 |
|  |  | Current |  |  | Deferred |  |  | Total |  |  | Current |  |  | Deferred |  |  | Total |  |  | Current |  |  | Deferred |  |  | Total |  |
U.S. federal |  | $ | — |  |  | $ | (434,585 | ) |  | $ | (434,585 | ) |  | $ | — |  |  | $ | (25,322 | ) |  | $ | (25,322 | ) |  | $ | — |  |  | $ | (302,507 | ) |  | $ | (302,507 | )
U.S. state and local |  |  | 6,147 |  |  |  | (71,853 | ) |  |  | (65,706 | ) |  |  | — |  |  |  | (5,167 | ) |  |  | (5,167 | ) |  |  | 17 |  |  |  | 51,464 |  |  |  | 51,481 |
Total |  | $ | 6,147 |  |  | $ | (506,438 | ) |  | $ | (500,291 | ) |  | $ | — |  |  | $ | (30,489 | ) |  | $ | (30,489 | ) |  | $ | 17 |  |  | $ | (251,043 | ) |  | $ | (251,026 | )
Significant Components of Deferred Tax Assets and Liabilities | Significant components of deferred tax assets and liabilities are as follows:
| December 31, |
| 2019 |  |  | 2018 |
| (in thousands) |
Deferred tax assets: |  |  |  |  |  |  |
Net operating loss carryforward | $ | 581,324 |  |  | $ | 542,847 |
Deferred compensation |  | 16,815 |  |  |  | 19,844 |
Equity compensation |  | 7,188 |  |  |  | 8,152 |
AMT credits and other credits |  | — |  |  |  | 3,296 |
Asset retirement obligation |  | 60,064 |  |  |  | 78,126 |
Interest expense carryover |  | 18,035 |  |  |  | 19,444 |
Lease deferred tax assets |  | 16,450 |  |  |  | — |
Other |  | 11,072 |  |  |  | 11,048 |
Valuation allowances: |  |  |  |  |  |  |
Federal |  | (32,530 | ) |  |  | (18,975 | )
State, net of federal benefit |  | (158,296 | ) |  |  | (101,372 | )
Total deferred tax assets |  | 520,122 |  |  |  | 562,410 |
Deferred tax liabilities: |  |  |  |  |  |  |
Depreciation and depletion |  | (639,581 | ) |  |  | (1,207,784 | )
Cumulative mark-to-market gain |  | (25,957 | ) |  |  | (21,294 | )
Lease deferred tax liabilities |  | (14,780 | ) |  |  | — |
Total deferred tax liabilities |  | (680,318 | ) |  |  | (1,229,078 | )
Net deferred tax liability | $ | (160,196 | ) |  | $ | (666,668 | )
Changes in Deferred Tax Asset Valuation Allowances | The changes in our deferred tax asset valuation allowances are as follows (in thousands):
|  | 2019 |  |  |  | 2018 |  |  |  | 2017 |
Balance at the beginning of the year | $ | (120,347 | ) |  | $ | (125,134 | ) |  | $ | (107,174 | )
Charged to provision for income taxes: |  |  |  |  |  |  |  |  |  |  |
State net operating loss carryforwards |  | (25,710 | ) |  |  | (23,926 | ) |  |  | (11,612 | )
Federal net operating loss carryforwards |  | 13,780 |  |  |  | 11,716 |  |  |  | 15,385 |
Non-recoverable deferred tax assets |  | (28,208 | ) |  |  | — |  |  |  | — |
Other state valuation allowances |  | (31,214 | ) |  |  | 16,380 |  |  |  | (23,790 | )
Other federal valuation allowances |  | 346 |  |  |  | 494 |  |  |  | (247 | )
Other |  | 527 |  |  |  | 123 |  |  |  | 2,304 |
Balance at the end of the year | $ | (190,826 | ) |  | $ | (120,347 | ) |  | $ | (125,134 | )

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