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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | The components of income (loss) from continuing operations before income taxes for each of the three years presented and income tax expense (benefit) attributable thereto were as follows.
(Thousands of dollars) | 2019 |  | 2018 |  | 2017
Income (loss) from continuing operations before income taxes |  |  |  |  |
United States | $ | 282,199 |  |  | 14,907 |  |  | (299,349 | )
Foreign | (78,701 | ) |  | 28,095 |  |  | 16,465 |
Total | $ | 203,498 |  |  | 43,002 |  |  | (282,884 | )
Income tax expense (benefit) |  |  |  |  |
U.S. Federal – Current | $ | — |  |  | (9,765 | ) |  | — |
– Deferred | 30,598 |  |  | (131,200 | ) |  | 156,065 |
Total U.S. Federal | 30,598 |  |  | (140,965 | ) |  | 156,065 |
State | 5,139 |  |  | 3,299 |  |  | 4,230 |
Foreign – Current | (17,823 | ) |  | 61,257 |  |  | 59 |
– Deferred | (3,231 | ) |  | (49,727 | ) |  | 109,777 |
Total Foreign | (21,054 | ) |  | 11,530 |  |  | 109,836 |
Total | $ | 14,683 |  |  | (126,136 | ) |  | 270,131 |
Effective Income Tax Rates | The following table reconciles income taxes based on the U.S. statutory tax rate to the Company’s income tax expense.
(Thousands of dollars) | 2019 |  | 2018 |  | 2017
Income tax expense (benefit) based on the U.S. statutory tax rate | $ | 42,735 |  |  | 9,031 |  |  | (98,868 | )
Revaluation of deferred tax (U.S. tax reform) | — |  |  | — |  |  | 118,004 |
Alberta tax rate reduction and tax impact of deemed repatriation of foreign invested earnings (U.S. tax reform) | (17,019 | ) |  | (135,700 | ) |  | 156,000 |
Deferred tax effect on Canadian earnings no longer indefinitely invested | — |  |  | — |  |  | 65,000 |
Foreign income (loss) subject to foreign tax rates different than the U.S.statutory rate | (1,122 | ) |  | 5,822 |  |  | 2,032 |
State income taxes, net of federal benefit | 4,060 |  |  | 2,607 |  |  | 2,438 |
U.S. tax benefit on certain foreign upstream investments | (14,975 | ) |  | (14,702 | ) |  | (32,926 | )
Increase in deferred tax asset valuation allowance related to other foreign exploration expenditures | 10,927 |  |  | 3,283 |  |  | 18,601 |
Tax effect on income attributable to noncontrolling interest | (21,750 | ) |  | (1,753 | ) |  | — |
Other, net | 11,827 |  |  | 5,276 |  |  | 39,850 |
Total | $ | 14,683 |  |  | (126,136 | ) |  | 270,131 |
Analysis of Deferred Tax Assets and Deferred Tax Liabilities Showing Tax Effects of Significant Temporary Differences | An analysis of the Company’s deferred tax assets and deferred tax liabilities at December 31, 2019 and 2018 showing the tax effects of significant temporary differences follows.
(Thousands of dollars) | 2019 |  | 2018
Deferred tax assets |  |  |
Property and leasehold costs | $ | 233,351 |  |  | 231,389 |
Liabilities for dismantlements | 78,361 |  |  | 88,075 |
Postretirement and other employee benefits | 125,250 |  |  | 113,826 |
Alternative minimum tax | 9,765 |  |  | 9,765 |
U. S. net operating loss | 495,252 |  |  | 496,629 |
Other deferred tax assets | 66,795 |  |  | 19,974 |
Total gross deferred tax assets | 1,008,774 |  |  | 959,658 |
Less valuation allowance | (103,113 | ) |  | (166,991 | )
Net deferred tax assets | 905,661 |  |  | 792,667 |
Deferred tax liabilities |  |  |
Deferred tax on undistributed foreign earnings | (5,000 | ) |  | (5,000 | )
Accumulated depreciation, depletion and amortization | (938,614 | ) |  | (710,384 | )
Investment in partnership | (14,250 | ) |  | (32,178 | )
Other deferred tax liabilities | (25,708 | ) |  | (28,802 | )
Total gross deferred tax liabilities | (983,572 | ) |  | (776,364 | )
Net deferred tax (liabilities) assets | $ | (77,911 | ) |  | 16,303 |
Reconciliation of Beginning and Ending Amount of Consolidated Liability for Unrecognized Income Tax Benefits | A reconciliation of the beginning and ending amount of the consolidated liability for unrecognized income tax benefits during the three years presented is shown in the following table.
(Thousands of dollars) | 2019 |  | 2018 |  | 2017
Balance at January 1 | $ | 2,903 |  |  | 3,437 |  |  | 7,417 |
Additions for tax positions related to current year | 456 |  |  | 454 |  |  | 769 |
Settlements due to lapse of time | (821 | ) |  | (988 | ) |  | (4,834 | )
Foreign currency translation effect | — |  |  | — |  |  | 85 |
Balance at December 31 | $ | 2,538 |  |  | 2,903 |  |  | 3,437 |

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