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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Components of Provision (Benefit) for Income Taxes

The components of the provision (benefit) for income taxes for the years ended December 31, 2015 and 2014 are as follows:

		Year Ended December 31,
(Thousands of dollars)		2015				2014
Current:
Federal		$	27			$	345
State			(237	)			262
Total current			(210	)			607
Deferred:
Federal			(6,330	)			13,134
State			(108	)			103
Total deferred			(6,438	)			13,237
Total income tax (benefit) provision		$	(6,648	)		$	13,844

Components of Net Deferred Tax Assets and Liabilities

		At December 31,
(Thousands of dollars)		2015				2014
Current Assets:
Accrued liabilities		$	593			$	610
Allowance for doubtful accounts			188				124
Derivative contracts			3				52
Total current assets			784				786
Current Liabilities:
Derivative contracts			250				6,333
Total current liabilities			250				6,333
Net current deferred income tax liabilities (assets)		$	(534	)		$	5,547
Non-Current Assets:
Alternative minimum tax credits		$	5,319			$	5,722
Net operating loss carry-forwards			575				620
Percentage depletion carry-forwards			3,751				3,959
Total non-current assets			9,645				10,301
Non-Current Liabilities:
Basis differences relating to managed partnerships			6,238				4,300
Depletion and depreciation			41,290				44,192
Total non-current liabilities			47,528				48,492
Net non-current deferred income tax liabilities		$	37,884			$	38,191

Provision for Income Taxes Varies from Federal Statutory Tax Rate

The total provision for income taxes for the years ended December 31, 2015 and 2014 varies from the federal statutory tax rate as a result of the following:

		Year Ended December 31,
(Thousands of dollars)		2015				2014
Expected tax expense		$	(6,607	)		$	13,902
State income tax, net of federal benefit			(228	)			254
Percentage depletion			(200	)			(312	)
Other, net			387				—
Total income tax provision		$	(6,648	)		$	13,844

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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://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

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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://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

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- 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

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