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Income Taxes
 12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The Company is subject to income taxation in the United States and various state jurisdictions in which it operates. In accordance with income tax accounting standards, the Company recognizes tax benefits or expenses on the temporary differences between the financial reporting and tax bases of its assets and liabilities.
Components of Income before Income Taxes from Continuing Operations
The components of income before taxes for domestic and foreign operations consisted of the following:
Year ended December 31,
(in thousands)202220212020
Domestic$4,953 $196,620 $(361,242)
Foreign— — 175 
Total$4,953 $196,620 $(361,067)
Income Tax Provision/(Benefit)

The provision (benefit) for income taxes is composed of the following:
Year ended December 31,
(in thousands)202220212020
Current:
Federal$6 $(494)$(195,572)
State73 552 (211)
Foreign209 (6)132 
Total current288 52 (195,651)
Deferred:
Federal1,189 40,693 24,126 
State983 4,022 (5,449)
Total deferred2,172 44,715 18,677 
Total income tax provision (benefit)$2,460 $44,767 $(176,974)

Reconciliation of Effective Tax Rate

The effective tax rate on income before income taxes differed from the federal statutory income tax rate as follows:
Year ended December 31,
(in thousands)202220212020
Income tax expense (benefit) at federal statutory rate$1,040 $41,575 $(70,459)
State income taxes, net of federal income tax benefit1,189 4,257 (5,495)
CARES Act— — (97,988)
Foreign income tax expense210 (6)132 
Other21 (1,059)(3,164)
Total income tax expense (benefit)$2,460 $44,767 $(176,974)
Deferred Taxes

The major components of the Company’s net deferred tax assets and liabilities are as follows:
As of December 31,
(in thousands)20222021
Deferred tax assets:
Employee benefits$9,938 $6,656 
Net operating loss30,370 7,827 
Tax credits4,290 4,523 
Other(1)
18,644 1,295 
Less: valuation allowance1,214 1,214 
Total deferred tax assets62,028 19,087 
Deferred tax liabilities:
Prepaid expenses4,223 3,625 
Depreciation399,622 352,123 
Other4,571 9,476 
Total deferred tax liabilities408,416 365,224 
Net deferred tax liabilities$346,388 $346,137 
(1)Other deferred tax assets consists of interest expense and R&D expenses.

Net Operating Loss and Tax Credit Carryforwards
At December 31, 2022, the Company recognized $22.8 million and $7.5 million of tax-effected Federal and state net operating loss carryforwards respectively. Under the current law, the Federal net operating losses do not expire. While a portion of the state net operating loss carryforward amounts will expire between 2023 and 2040, the majority of these net operating losses have an indefinite carryforward period.