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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

(Benefit) Provision for Income Taxes

The Company’s income tax (benefit) provision consisted of the following components (in thousands):

	Successor									Predecessor
	Year Ended December 31, 2017				Period from October 2, 2016 through December 31, 2016					Period from January 1, 2016 through October 1, 2016				Year Ended December 31, 2015
Current
Federal	$	(8,719	)		$	—				$	—			$	—
State	(30		)		9					11				123
	(8,749		)		9					11				123
Deferred
Federal	—				—					—				—
State	—				—					—				—
	—				—					—				—
Total (benefit) provision	(8,749		)		9					11				123
Less: income tax provision attributable to noncontrolling interest	—				—					—				90
Total (benefit) provision attributable to SandRidge Energy, Inc.	$	(8,749	)		$	9				$	11			$	33

Reconciliation of Provision (Benefit) for Income Taxes at Statutory Federal Tax Rate

A reconciliation of the (benefit) provision for income taxes at the statutory federal tax rate to the Company’s actual income tax (benefit) provision is as follows (in thousands):

	Successor									Predecessor
	Year Ended December 31, 2017				Period from October 2, 2016 through December 31, 2016					Period from January 1, 2016 through October 1, 2016				Year Ended December 31, 2015
Computed at federal statutory rate	$	13,409			$	(116,891	)			$	504,283			$	(1,512,325	)
State taxes, net of federal benefit	(284		)		(3,696		)			10,512				(19,988		)
Non-deductible expenses	1,711				144					462				816
Non-deductible debt costs	—				—					22,694				10,228
Stock-based compensation	1,109				306					5,884				6,700
Net effects of consolidating the non-controlling interests’ tax provisions	—				—					—				218,196
Discharge of debt and other reorganization related items	1,018				—					359,278				—
Return to provision adjustments (1)	341,681				—					—				—
Impact of legislative changes	243,801				—					—				—
Release of valuation allowance	(8,719		)		—					—				—
Change in valuation allowance	(602,452		)		120,144					(903,102		)		1,296,405
Other	(23		)		2					—				1
Total (benefit) provision attributable to SandRidge Energy, Inc.	$	(8,749	)		$	9				$	11			$	33

____________________

(1) Primarily related to the Company’s decision to file its 2016 income tax returns using an alternate method than previously estimated with respect to its Chapter 11 related transactions. See additional discussion with respect to Internal Revenue Code (“IRC”) Section 382 below.

Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands):

	December 31, 2017				December 31, 2016
Deferred tax liabilities
Investments(1)	$	171,517			$	275,128
Total deferred tax liabilities	171,517				275,128
Deferred tax assets
Property, plant and equipment	391,273				751,683
Derivative contracts	3,131				11,274
Allowance for doubtful accounts	986				1,487
Net operating loss carryforwards	217,259				527,079
Compensation and benefits	5,700				14,494
Tax Credits and other carryforwards	33,001				43,770
Asset retirement obligations	18,843				40,399
Other	2,273				4,663
Total deferred tax assets	672,466				1,394,849
Valuation allowance	(500,949		)		(1,119,721		)
Net deferred tax liability	$	—			$	—

____________________

(1)

Includes the Company’s deferred tax liability resulting from its investment in the Royalty Trusts.

Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

	Successor									Predecessor
	Year Ended December 31, 2017				Period from October 2, 2016 through December 31, 2016					Period from January 1, 2016 through October 1, 2016
Unrecognized tax benefit at January 1	$	84			$	81				$	81
Changes to unrecognized tax benefits related to a prior period	2				3					—
Lapse of statute of limitations	(38		)		—					—
Unrecognized tax benefit at December 31	$	48			$	84				$	81

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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=84230637&loc=d3e32639-109319

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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.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

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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=84230637&loc=d3e32687-109319

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Tabular disclosure of the change in unrecognized tax benefits.

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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=96868398&loc=d3e36027-109320

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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
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