XML 27 R11.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Income Taxes | 12 Months Ended
--- | ---
Dec. 31, 2016
Income Taxes [Abstract] |
Income Taxes | (5) Income Taxes (in thousands) ﻿ Our income tax is different than the expected amount computed using the applicable federal and state statutory income tax rates. The reasons for and effects of such differences for the years ended December 31 are below:
﻿ |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |
﻿ | 2016 |  |  | 2015 |  |  |  | 2014 |
﻿Expected amount | $ | 2,966 |  |  | $ | 9,653 |  |  | $ | 3,745 |
﻿Change in Indiana rate |  |  |  |  |  | (85 | ) |  |  | (1,407 | )
﻿State income taxes, net of federal benefit |  | (387 | ) |  |  | 612 |  |  |  | 186 |
﻿Percentage depletion |  | (6,021 | ) |  |  | (2,606 | ) |  |  | (1,996 | )
﻿Stock-based compensation |  | (238 | ) |  |  |  |  |  |  | 343 |
﻿Captive insurance |  | (418 | ) |  |  | (419 | ) |  |  | (419 | )
﻿Other |  | 72 |  |  |  | 283 |  |  |  | 30 |
﻿ | $ | (4,026 | ) |  | $ | 7,438 |  |  | $ | 482 |
﻿ The deferred tax assets and liabilities resulting from temporary differences between book and tax basis are comprised of the following at December 31:
﻿ |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |
﻿ |  | 2016 |  |  |  | 2015 |
Long-term deferred tax assets: |  |  |  |  |  |  |
﻿Stock-based compensation | $ | 512 |  |  | $ | 458 |
﻿Investment in Savoy |  | 1,031 |  |  |  | 827 |
﻿Net operating loss |  | 14,908 |  |  |  | 7,583 |
﻿Alternative minimum tax credit |  | 4,221 |  |  |  | 4,388 |
﻿Other |  | 564 |  |  |  | 18 |
﻿Total long-term deferred tax assets |  | 21,236 |  |  |  | 13,274 |
Long-term deferred tax liabilities: |  |  |  |  |  |  |
﻿Coal properties |  | (50,439 | ) |  |  | (46,596 | )
﻿Oil and gas properties |  | (15,971 | ) |  |  | (15,711 | )
﻿Total long-term deferred tax liabilities |  | (66,410 | ) |  |  | (62,307 | )
﻿Net deferred tax liability | $ | (45,174 | ) |  | $ | (49,033 | )
﻿ Our effective tax rate (ETR) for 2016 was (48)% compared to 27% for 2015 and 4.5% for 2014. The negative ETR in 2016 is due to the combination of the reduction in book income before taxes because of the asset impairment expense and permanent tax benefits of statutory depletion in excess of tax basis in the mining properties, the captive insurance company and stock based compensation. The low ETR for 2014 was due primarily to the reduction in the Indiana state income tax rate. Our ETR differs from the statutory rate due primarily to statutory depletion in excess of tax basis, which is a permanent difference. ﻿ We have analyzed our filing positions in all of the federal and state jurisdictions where we are required to file income tax returns, as well as all open tax years in these jurisdictions, to determine whether the positions will more likely than not be sustained by the applicable tax authority. Tax positions not deemed to meet the more-likely-than-not threshold are not recorded as a tax benefit or expense in the current year. We identified our federal tax return and our Indiana state tax return as “major” tax jurisdictions. We believe that our income tax filing positions and deduction will be sustained on audit and do not anticipate any adjustments that will result in a material change to our consolidated financial position. While not material, we record any penalties and interest as SG&A. As of the balance sheet date, the tax year ended December 31, 2012 and all subsequent tax years remain subject to examination by the IRS and state taxing authorities. ﻿

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 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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration