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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Reconciliation Between Statutory Federal Income Tax Rate and Effective Income Tax | Our income tax benefit was $25.6 million for the year ended December 31, 2020 compared to $500.3 million in 2019 and $30.5 million in 2018. Reconciliation between the statutory federal income tax rate and our effective income tax rate is as follows:
| Year Ended December 31, |
| 2020 |  | 2019 |  |  | 2018 |
Federal statutory tax rate | 21.0 | % |  | 21.0 | % |  |  | 21.0 | %
State, net of federal benefit | 5.2 |  |  | 3.8 |  |  |  | (0.3 | )
State rate and law change | 4.3 |  |  | 1.8 |  |  |  | 0.9 |
Valuation allowances | (26.3 | ) |  | (3.8 | ) |  |  | (0.4 | )
Non-deductible equity compensation | (0.7 | ) |  | (0.2 | ) |  |  | (0.1 | )
Goodwill impairment | — |  |  | — |  |  |  | (19.4 | )
Consolidated effective tax rate | 3.5 | % |  | 22.6 | % |  |  | 1.7 | %
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):
|  |  | 2020 |  |  |  | 2019 |  |  |  | 2018 |
|  |  | Current |  |  | Deferred |  |  | Total |  |  | Current |  |  | Deferred |  |  | Total |  |  | Current |  |  | Deferred |  |  | Total |  |
U.S. federal |  | $ | (366 | ) |  | $ | (24,489 | ) |  | $ | (24,855 | ) |  | $ | — |  |  | $ | (434,585 | ) |  | $ | (434,585 | ) |  | $ | — |  |  | $ | (25,322 | ) |  | $ | (25,322 | )
U.S. state and local |  |  | (157 | ) |  |  | (540 | ) |  |  | (697 | ) |  |  | 6,147 |  |  |  | (71,853 | ) |  |  | (65,706 | ) |  |  | — |  |  |  | (5,167 | ) |  |  | (5,167 | )
Total |  | $ | (523 | ) |  | $ | (25,029 | ) |  | $ | (25,552 | ) |  | $ | 6,147 |  |  | $ | (506,438 | ) |  | $ | (500,291 | ) |  | $ | — |  |  | $ | (30,489 | ) |  | $ | (30,489 | )
Significant Components of Deferred Tax Assets and Liabilities | Significant components of deferred tax assets and liabilities are as follows:
| December 31, |
| 2020 |  |  | 2019 |
| (in thousands) |
Deferred tax assets: |  |  |  |  |  |  |
Net operating loss carryforward | $ | 879,339 |  |  | $ | 581,324 |
Divestiture contract obligation |  | 132,352 |  |  |  | — |
Deferred compensation |  | 16,635 |  |  |  | 16,815 |
Equity compensation |  | 5,445 |  |  |  | 7,188 |
Asset retirement obligation |  | 18,923 |  |  |  | 60,064 |
Interest expense carryover |  | 15,757 |  |  |  | 18,035 |
Lease deferred tax assets |  | 16,070 |  |  |  | 16,450 |
Cumulative mark-to-market loss |  | 2,607 |  |  |  | — |
Other |  | 12,082 |  |  |  | 11,072 |
Valuation allowances: |  |  |  |  |  |  |
Federal |  | (152,499 | ) |  |  | (32,530 | )
State, net of federal benefit |  | (226,520 | ) |  |  | (158,296 | )
Total deferred tax assets |  | 720,191 |  |  |  | 520,122 |
Deferred tax liabilities: |  |  |  |  |  |  |
Depreciation and depletion |  | (839,869 | ) |  |  | (639,581 | )
Cumulative mark-to-market gain |  | — |  |  |  | (25,957 | )
Lease deferred tax liabilities |  | (15,058 | ) |  |  | (14,780 | )
Other |  | (531 | ) |  |  | — |
Total deferred tax liabilities |  | (855,458 | ) |  |  | (680,318 | )
Net deferred tax liability | $ | (135,267 | ) |  | $ | (160,196 | )
Changes in Deferred Tax Asset Valuation Allowances | The changes in our deferred tax asset valuation allowances are as follows (in thousands):
|  | 2020 |  |  |  | 2019 |  |  |  | 2018 |
Balance at the beginning of the year | $ | (190,826 | ) |  | $ | (120,347 | ) |  | $ | (125,134 | )
Charged to provision for income taxes: |  |  |  |  |  |  |  |  |  |  |
State net operating loss carryforwards |  | (56,903 | ) |  |  | (25,710 | ) |  |  | (23,926 | )
Federal net operating loss carryforwards |  | (113,988 | ) |  |  | 13,780 |  |  |  | 11,716 |
Non-recoverable deferred tax assets |  | (7,433 | ) |  |  | (28,208 | ) |  |  | — |
Other state valuation allowances |  | (11,321 | ) |  |  | (31,214 | ) |  |  | 16,380 |
Other federal valuation allowances |  | 244 |  |  |  | 346 |  |  |  | 494 |
Other |  | 1,208 |  |  |  | 527 |  |  |  | 123 |
Balance at the end of the year | $ | (379,019 | ) |  | $ | (190,826 | ) |  | $ | (120,347 | )

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
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