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Note 13 - Income Taxes | 12 Months Ended
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Dec. 31, 2022
Notes to Financial Statements |
INCOME TAXES | NOTE 13—INCOME TAXES Income tax expense (benefit) consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years ended December 31,
(In thousands) |  | 2022 |  | 2021 |  | 2020
Current taxes: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | $ | 517 | ​ | $ | — | ​ | $ | —
State | ​ |  | 407 | ​ |  | 3 | ​ |  | 19
Current taxes | ​ |  | 924 | ​ |  | 3 | ​ |  | 19
Deferred taxes: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ |  | 28,389 | ​ |  | 6,518 | ​ |  | (3,164)
State | ​ |  | 840 | ​ |  | (1,874) | ​ |  | (339)
Deferred taxes | ​ |  | 29,229 | ​ |  | 4,644 | ​ |  | (3,503)
Provision for income tax expense (benefit), net | ​ | $ | 30,153 | ​ | $ | 4,647 | ​ | $ | (3,484)
​ The items accounting for differences between income taxes computed at the federal statutory rate and the provision recorded for income taxes were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years ended December 31,
(In thousands) |  | 2022 |  | 2021 |  | 2020
Income taxes computed at the federal statutory rate | ​ | $ | 30,701 | ​ | $ | 9,325 | ​ | $ | (1,762)
Effect of: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
State taxes, net of federal benefits | ​ |  | 1,422 | ​ |  | 796 | ​ |  | (253)
State tax rate changes, net of federal benefits | ​ | ​ | (546) | ​ | ​ | (2,274) | ​ | ​ | —
Percentage depletion | ​ |  | (3,314) | ​ |  | (3,363) | ​ |  | (714)
PPP Loan forgiveness | ​ |  | — | ​ |  | — | ​ |  | (1,773)
Stock-based compensation | ​ |  | (1,499) | ​ |  | (194) | ​ |  | 473
162(m) compensation limitation | ​ | ​ | 3,481 | ​ | ​ | — | ​ | ​ | —
Other, net | ​ |  | (92) | ​ |  | 357 | ​ |  | 545
Total | ​ | $ | 30,153 | ​ | $ | 4,647 | ​ | $ | (3,484)
​ Deferred tax assets and liabilities were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31,
(In thousands) |  | 2022 |  | 2021
Deferred tax assets: |  | ​ |  |  | ​ |
Loss carryforwards U.S. - Federal/States | ​ | $ | 6,598 | ​ | $ | 15,975
Asset retirement obligations | ​ |  | 6,359 | ​ |  | 5,175
Accrued expenses | ​ |  | 3,257 | ​ |  | 744
Stock-based compensation | ​ |  | 2,249 | ​ |  | 2,331
Total deferred tax assets | ​ |  | 18,463 | ​ |  | 24,225
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred tax liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Depreciation & amortization | ​ |  | (54,100) | ​ |  | (30,631)
Net deferred tax liabilities | ​ | $ | (35,637) | ​ | $ | (6,406)
​ As of December 31, 2022, our federal net operating loss carryforwards were approximately $24 million. Total state loss carryforwards were approximately $32 million. The Company’s net operating loss carryforwards have no statutory expiration. Cash paid for income taxes totaled $15.5 million in 2022. The Company recognized an income tax receivable of $14.6 million included in prepaid expenses and other current assets at December 31, 2022.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI https://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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