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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2018
Income Taxes |
Schedule of components of provision (benefit) for income taxes | The provision (benefit) for income taxes includes the following components (in thousands):
|  | Year ended December 31, |
|  | 2018 |  | 2017 |  | 2016 |
Current tax provision (benefit): |  |  |  |  |  |  |  |  |  |
Federal |  | $ | (21,598) |  | $ | 5,853 |  | $ | (3,801) |
State |  |  | 1,465 |  |  | 180 |  |  | 111 |
Foreign |  |  | 1,575 |  |  | — |  |  | — |
|  |  | (18,558) |  |  | 6,033 |  |  | (3,690) |
Deferred tax provision (benefit): |  |  |  |  |  |  |  |  |  |
Federal |  |  | 92,250 |  |  | (166,890) |  |  | (77,430) |
State |  |  | 12,250 |  |  | 20,133 |  |  | (6,106) |
|  |  | 104,500 |  |  | (146,757) |  |  | (83,536) |
Provision (benefit) for income taxes |  | $ | 85,942 |  | $ | (140,724) |  | $ | (87,226) |
Schedule of income tax rate reconciliation | The following is a reconciliation between a federal income tax rate of 21% for 2018 and 35% for 2017 and 2016 of income (loss) before income taxes and the effective tax rate which is derived by dividing the provision (benefit) for income taxes by the income (loss) before the provision for income (loss) taxes (in thousands):
|  | Year ended December 31, |
|  | 2018 |  | 2017 |  | 2016 |
Computed provision (benefit) for income taxes at the statutory rate |  | $ | 76,926 |  | $ | 100,864 |  | $ | (87,084) |
Increase (decrease) in income taxes resulting from: |  |  |  |  |  |  |  |  |  |
State income tax provision (benefit), net of federal income tax benefit |  |  | 12,711 |  |  | 7,778 |  |  | (5,768) |
Non-deductible expenses |  |  | 1,956 |  |  | 3,230 |  |  | 3,552 |
Valuation allowance changes affecting the provision for income taxes |  |  | (1,187) |  |  | 505 |  |  | 751 |
Foreign income taxes, net of federal & state benefit |  |  | 1,192 |  |  | — |  |  | — |
Excess tax benefits from share-based compensation |  |  | (4,548) |  |  | (5,377) |  |  | — |
Revaluation of net deferred taxes for the Tax Act |  |  | — |  |  | (246,845) |  |  | — |
Other, net |  |  | (1,108) |  |  | (879) |  |  | 1,323 |
Provision (benefit) for income taxes |  | $ | 85,942 |  | $ | (140,724) |  | $ | (87,226) |
Schedule of components of the net deferred tax assets and liabilities | The significant components of the Company’s net deferred tax assets and liabilities as of December 31, 2018 and 2017 are as follows (in thousands):
|  | As of December 31, |
|  | 2018 |  | 2017 |
Deferred tax assets: |  |  |  |  |  |  |
Accrued benefits |  | $ | 32,462 |  | $ | 31,651 |
Net operating loss carryforward |  |  | 344,375 |  |  | 122,648 |
AMT credit carryforward |  |  | 15,744 |  |  | 23,443 |
Aircraft credits |  |  | 35,924 |  |  | 53,870 |
Accrued reserves and other |  |  | 18,710 |  |  | 26,647 |
Total deferred tax assets |  |  | 447,215 |  |  | 258,259 |
Valuation allowance |  |  | (9,455) |  |  | (10,642) |
Deferred tax liabilities: |  |  |  |  |  |  |
Accelerated depreciation |  |  | (955,919) |  |  | (666,637) |
Total deferred tax liabilities |  |  | (955,919) |  |  | (666,637) |
Net deferred tax liability |  | $ | (518,159) |  | $ | (419,020) |
Schedule of unrecognized tax benefits |
Unrecognized tax benefits at the beginning of year |  | $ | 2,223 |
Gross increases - current year tax positions |  |  | 13,899 |
Gross increases - prior year tax positions |  |  | - |
Gross decreases - prior year tax positions |  |  | (1,569) |
Unrecognized tax benefits at end of year |  | $ | 14,553 |
Interest and penalties in year-end balance |  |  | - |

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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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- 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
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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319 + Details
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