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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | Income tax expense (benefit) consisted of the following:
| Berry Corp. (Successor) |  |  | Berry LLC (Predecessor)
| Year Ended December 31, 2019 |  | Year Ended December 31, 2018 |  | Ten Months Ended December 31, 2017 |  |  | Two Months Ended February 28, 2017
| (in thousands)
Current taxes: |  |  |  |  |  |  |  |
Federal | $ | — |  |  | $ | (465 | ) |  | $ | 465 |  |  |  | $ | — |
State | 227 |  |  | (446 | ) |  | 450 |  |  |  | 221 |
Total current taxes | 227 |  |  | (911 | ) |  | 915 |  |  |  | 221 |
Deferred taxes: |  |  |  |  |  |  |  |
Federal | (36,756 | ) |  | 33,227 |  |  | 1,888 |  |  |  | — |
State | (21 | ) |  | 10,719 |  |  | — |  |  |  | 9 |
Total deferred taxes | (36,777 | ) |  | 43,946 |  |  | 1,888 |  |  |  | 9 |
Total current and deferred taxes | $ | (36,550 | ) |  | $ | 43,035 |  |  | $ | 2,803 |  |  |  | $ | 230 |
Schedule of Effective Tax Rate | A reconciliation of the federal statutory tax rate to the effective tax rate is as follows:
| Berry Corp. (Successor) |  |  | Berry LLC (Predecessor)
| Year Ended December 31, 2019 |  | Year Ended December 31, 2018 |  | Ten Months Ended December 31, 2017 |  |  | Two Months Ended February 28, 2017
Federal statutory rate | 21.0 | % |  | 21.0 | % |  | 35.0 | % |  |  | 35.0 | %
State, net of federal tax benefit | 8.9 | % |  | 6.3 | % |  | 7.2 | % |  |  | — | %
Effect of permanent differences | 0.2 | % |  | (0.6 | )% |  | (0.4 | )% |  |  | — | %
Tax credits and federal return to provision | (546.4 | )% |  | — | % |  | — | % |  |  | — | %
State return to provision | (6.6 | )% |  | — | % |  | — | % |  |  | — | %
Tax reform—rate change(1) | — | % |  | — | % |  | (14.7 | )% |  |  | — | %
Income excluded from nontaxable entities | — | % |  | — | % |  | — | % |  |  | (35.0 | )%
Change in valuation allowance | — | % |  | (4.1 | )% |  | (42.4 | )% |  |  | — | %
Effective tax rate | (522.9 | )% |  | 22.6 | % |  | (15.3 | )% |  |  | — | %
__________
(1) | For the ten months ended December 31, 2017, includes the tax rate reduction. The impact of the rate change is fully offset in the “Change in valuation allowance” item.
Schedule of Deferred Tax Assets and Liabilities | Significant components of the deferred tax assets and liabilities are as follows:
| Berry Corp. (Successor)
| December 31, 2019 |  | December 31, 2018
| (in thousands)
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 14,542 |  |  | $ | 14,310 |
Accruals | 12,218 |  |  | 2,993 |
Asset retirement obligations | 41,382 |  |  | 26,383 |
Tax credits and federal return to provision | 47,803 |  |  | — |
Interest limitation carryforward | 13,892 |  |  | 7,486 |
Other | 5,154 |  |  | 2,033 |
Total deferred tax assets | 134,991 |  |  | 53,205 |
Deferred tax liabilities: |  |  |
Book tax differences in property basis | (143,896 | ) |  | (95,348 | )
Derivative instruments | (152 | ) |  | (3,692 | )
Total deferred tax liabilities | (144,048 | ) |  | (99,040 | )
Net deferred tax asset (liability) | $ | (9,057 | ) |  | $ | (45,835 | )
Summary of Unrecognized Tax Benefits |
| Berry Corp. (Successor)
| December 31, 2019 |  | December 31, 2018
| (in thousands)
Unrecognized tax benefits - January 1 | $ | — |  |  | $ | — |
Prior year - increase | 6,720 |  |  | — |
Current year - increase | 7,172 |  |  | — |
Unrecognized tax benefits - December 31 | $ | 13,892 |  |  | $ | — |

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- 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://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
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- 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://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319 + Details
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