XML 78 R46.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Components of Income Tax Expense

The Company’s income tax benefit consists of the following:

			Year Ended December 31,
			2019						2018						2017
			(In thousands)
Current:
Federal			$	(43)					$	(70)					$	(420)
State			27						93						—
			(16)						23						(420)
Deferred:
Federal			(28,148)						(3,553)						(199,370)
State			(4,551)						(2,313)						(3,514)
			(32,699)						(5,866)						(202,884)
Total income tax benefit			$	(32,715)					$	(5,843)					$	(203,304)

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation of income taxes calculated at the U.S. federal tax statutory rate to the Company’s effective tax rate for the years ended December 31, 2019, 2018 and 2017, is set forth below: 

			Year Ended December 31,
			2019																		2018																		2017
			(%)						(In thousands)						(%)						(In thousands)						(%)						(In thousands)
U.S. federal tax statutory rate			21.00		%				$	(25,906)					21.00		%				$	(5,322)					35.00		%				$	(26,550)
State income taxes, net of federal income tax benefit			2.90		%				(3,573)						2.08		%				(527)						2.59		%				(1,966)
Effects of non-controlling interest			6.40		%				(7,895)						13.09		%				(3,317)						1.68		%				(1,278)
Non-deductible executive compensation			(1.70)		%				2,094						(9.50)		%				2,408						1.05		%				(792)
Equity-based compensation windfall (shortfall)			(1.75)		%				2,163						(3.68)		%				932						0.87		%				(659)
State deferred tax rate change			—		%				—						13.73		%				(3,479)						0.36		%				(270)
Change in valuation allowance			—		%				—						(6.74)		%				1,707						—		%				—
Impact of U.S. tax reform			—		%				—						(7.34)		%				1,859						226.61		%				(171,900)
Other			(0.33)		%				402						0.41		%				(104)						(0.15)		%				111
Annual effective tax benefit			26.52		%				$	(32,715)					23.05		%				$	(5,843)					268.01		%				$	(203,304)

Summary of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2019 and 2018, were as follows: 

			Year Ended December 31,
			2019						2018
			(In thousands)
Deferred tax assets
Net operating loss carryforward			$	191,022					$	177,745
Bonus and equity-based compensation			8,799						8,436
Derivative instruments			3,946						—
Other tax attribute carryovers			1,643						856
Total deferred tax assets			205,410						187,037
Less: Valuation allowance			(2,915)						(2,863)
Total deferred tax assets, net			$	202,495					$	184,174
Deferred tax liabilities
Oil and gas properties			$	426,130					$	423,270
Derivative instruments			—						22,834
Investment in partnerships			38,015						22,450
Other deferred tax liabilities			5,707						15,675
Total deferred tax liabilities			$	469,852					$	484,229
Total deferred tax liabilities, net			$	267,357					$	300,055

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration