XML 80 R48.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2015
Income Tax Disclosure [Abstract] |
(Benefit) Provision for Income Taxes | The Company’s income tax provision (benefit) consisted of the following components for the years ended December 31, 2015, 2014 and 2013 (in thousands):
| Year Ended December 31,
| 2015 |  | 2014 |  | 2013
Current |  |  |  |  |
Federal | $ | — |  |  | $ | (1,160 | ) |  | $ | 3,842 |
State | 123 |  |  | (1,133 | ) |  | 1,842 |
| 123 |  |  | (2,293 | ) |  | 5,684 |
Deferred |  |  |  |  |
Federal | — |  |  | — |  |  | — |
State | — |  |  | — |  |  | — |
| — |  |  | — |  |  | — |
Total provision (benefit) | 123 |  |  | (2,293 | ) |  | 5,684 |
Less: income tax provision attributable to noncontrolling interest | 90 |  |  | 283 |  |  | 308 |
Total provision (benefit) attributable to SandRidge Energy, Inc. | $ | 33 |  |  | $ | (2,576 | ) |  | $ | 5,376 |
Reconciliation of Provision (Benefit) for Income Taxes at Statutory Federal Tax Rate | A reconciliation of the provision (benefit) for income taxes at the statutory federal tax rate to the Company’s actual income tax benefit is as follows for the years ended December 31, 2015, 2014 and 2013 (in thousands):
| 2015 |  | 2014 |  | 2013
Computed at federal statutory rate | $ | (1,512,325 | ) |  | $ | 122,362 |  |  | $ | (178,078 | )
State taxes, net of federal benefit | (19,988 | ) |  | 4,145 |  |  | (886 | )
Non-deductible expenses | 816 |  |  | 1,895 |  |  | 2,589 |
Non-deductible debt costs | 10,228 |  |  | — |  |  | — |
Stock-based compensation | 6,700 |  |  | 1,467 |  |  | 7,611 |
Net effects of consolidating the non-controlling interests’ tax provisions | 218,196 |  |  | (34,614 | ) |  | (13,901 | )
Change in valuation allowance | 1,296,405 |  |  | (96,769 | ) |  | 188,599 |
Other | 1 |  |  | (1,062 | ) |  | (558 | )
Total provision (benefit) attributable to SandRidge Energy, Inc. | $ | 33 |  |  | $ | (2,576 | ) |  | $ | 5,376 |
Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands):
| December 31,
| 2015 |  | 2014
Deferred tax liabilities |  |  |
Investments(1) | $ | 138,310 |  |  | $ | 272,902 |
Property, plant and equipment | — |  |  | 364,576 |
Derivative contracts | 30,989 |  |  | 113,735 |
Long-term debt | 10,017 |  |  | — |
Total deferred tax liabilities | 179,316 |  |  | 751,213 |
Deferred tax assets |  |  |
Property, plant and equipment | 807,275 |  |  | — |
Allowance for doubtful accounts | 18,702 |  |  | 19,086 |
Net operating loss carryforwards | 1,190,799 |  |  | 1,265,458 |
Compensation and benefits | 18,607 |  |  | 19,867 |
Alternative minimum tax credits and other carryforwards | 44,302 |  |  | 43,840 |
Asset retirement obligations | 38,314 |  |  | 21,946 |
CO 2 under-delivery shortfall penalty | 40,654 |  |  | 27,674 |
Other | 4,305 |  |  | 2,934 |
Total deferred tax assets | 2,162,958 |  |  | 1,400,805 |
Valuation allowance | (1,983,642 | ) |  | (649,592 | )
Net deferred tax liability | $ | — |  |  | $ | — |
____________________
(1) | Includes the Company’s deferred tax liability resulting from its investment in the Royalty Trusts. See Note 4 for further discussion of the Royalty Trusts.
Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):
| December 31,
| 2015 |  | 2014
Unrecognized tax benefit at January 1 | $ | 77 |  |  | $ | 1,382 |
Changes to unrecognized tax benefits related to a prior year | 4 |  |  | (17 | )
Decreases to unrecognized tax benefits for settlements with tax authorities | — |  |  | (1,288 | )
Unrecognized tax benefit at December 31 | $ | 81 |  |  | $ | 77 |

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 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://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 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://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_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=51663037&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=6907707&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration