XML 44 R25.htm IDEA: XBRL DOCUMENT v3.22.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

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, 2021 and 2020 are as follows:

		Year Ended December 31,
(Thousands of dollars)		2021				2020
Current:
Federal		$	81			$	950
State			59				80
Total current			140				1,030
Deferred:
Federal			1,802				(1,491	)
State			574				(56	)
Total deferred			2,376				(1,547	)
Total income tax provision		$	2,516			$	(517	)

Components of Net Deferred Tax Assets and Liabilities

		At December 31,
(Thousands of dollars)		2021				2020
Deferred Tax Assets:
Accrued liabilities		$	80			$	(584	)
Allowance for doubtful accounts			85				136
Derivative Contracts			1,272				153
State Net operating loss carry-forwards			470				760
Total deferred tax assets			1,907				465
Deferred Tax Liabilities:
Partnership basis difference			(98	)			544
Depletion and depreciation			40,748				36,288
Total deferred tax liabilities			40,650				36,832
Net deferred tax liabilities		$	38,743			$	36,367

Provision for Income Taxes Varies from Federal Statutory Tax Rate

The total provision (benefit) for income taxes for the years ended December 31, 2021 and 2020 varies from the federal statutory tax rate as a result of the following:

		Year Ended December 31,
(Thousands of dollars)		2021				2020
Expected tax expense		$	975			$	(595	)
Net changes in deferred assets and liabilities			2,376				(1,547	)
Permanent differences			(677	)			521
State income tax, net of federal benefit			47				63
Provision to return adjustment			744				1,547
Tax Credits			(948	)			(502	)
Other, net			(1	)			(4	)
Total income tax provision (benefit)		$	2,516			$	(517	)

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://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=121826272&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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://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=121826272&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration