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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Taxes [Abstract] |
Schedule of Provision for Income Taxes | The Company recorded a provision for income taxes as follows (in thousands):
|  | Years Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Current provision |  | $ | 97 |  |  | $ | 1,925 |  |  | $ | 1,469 |
Deferred provision |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 97 |  |  | $ | 1,925 |  |  | $ | 1,469 |
Schedule of Reconciliation of Effective Tax Rate | A reconciliation of the differences between the United States statutory federal income tax rate and the effective tax rate as provided in the consolidated statements of operations is as follows:
|  | Years Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Statutory rate |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | %
State income taxes, net of federal benefit |  |  | 4.6 |  |  |  | 5.8 |  |  |  | 6.0 |
Change in valuation allowance |  |  | (23.4 | ) |  |  | (33.9 | ) |  |  | (18.8 | )
Stock-based compensation |  |  | (2.3 | ) |  |  | 3.1 |  |  |  | — |
Non-deductible items |  |  | 0.8 |  |  |  | (1.6 | ) |  |  | 0.4 |
Income from loan forgiveness |  |  | — |  |  |  | — |  |  |  | (5.5 | )
Other |  |  | (1.0 | ) |  |  | 0.6 |  |  |  | (0.1 | )
Effective rate |  |  | (0.3 | )% |  |  | (5.0 | )% |  |  | 3.0 | %
Schedule of Components of Deferred Income Taxes | Deferred income taxes are provided using the asset and liability method to reflect temporary differences between the financial statement carrying amounts and the tax bases of assets and liabilities using presently enacted tax rates and laws. The components of deferred income taxes included in the consolidated balance sheets were as follows (in thousands):
|  | December 31, |
|  | 2023 |  |  | 2022 |
Deferred tax assets: |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 57,870 |  |  | $ | 58,131 |
Capital loss |  |  | 26,518 |  |  |  | 26,043 |
Disallowed interest |  |  | 3,457 |  |  |  | 2,395 |
R&D, Energy and AMT credits |  |  | 3,742 |  |  |  | 3,742 |
Derivatives |  |  | 3,051 |  |  |  | 460 |
Intangibles |  |  | 1,201 |  |  |  | 89 |
Pension liability |  |  | 1,173 |  |  |  | 1,354 |
Railcar contracts |  |  | 818 |  |  |  | 786 |
Stock-based compensation |  |  | 696 |  |  |  | 634 |
Allowance for credit losses and other assets |  |  | 296 |  |  |  | 311 |
Other |  |  | 3,340 |  |  |  | 3,208 |
Total gross deferred tax assets |  |  | 102,162 |  |  |  | 97,153 |
Less: valuation allowance |  |  | (93,506 | ) |  |  | (87,949 | )
Total deferred tax assets, net of valuation allowance |  |  | 8,656 |  |  |  | 9,204 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Property and equipment |  |  | (7,720 | ) |  |  | (9,125 | )
Other |  |  | (1,172 | ) |  |  | (315 | )
Total deferred tax liabilities |  |  | (8,892 | ) |  |  | (9,440 | )
Net deferred tax liabilities, included in other liabilities |  | $ | (236 | ) |  | $ | (236 | )
Schedule of Net Operating Loss Carryforwards | These net operating loss carryforwards expire as follows (in thousands):
Tax Years |  | Federal |  |  | State |
2024–2028 |  | $ | — |  |  | $ | 94,913 |
2029–2033 |  |  | 15,245 |  |  |  | 5,637 |
2034–2038 |  |  | 83,771 |  |  |  | 93,390 |
2039 and after* |  |  | 108,465 |  |  |  | 33,832 |
Total NOLs |  | $ | 207,481 |  |  | $ | 227,772 |
* | Includes indefinite life federal net operating losses of $108.5 million generated after 2017.
Schedule of Balance of Gross Unrecognized Tax Benefits, Before Interest and Penalties | A reconciliation of the beginning balance and the ending balance of gross unrecognized tax benefits, before interest and penalties, for the period presented is as follows (in thousands):
|  | December 31, |
|  | 2023 |  |  | 2022 |
Unrecognized tax benefits at beginning of year |  | $ | 739 |  |  | $ | — |
Increases related to current year tax positions |  |  | — |  |  |  | — |
Decreases related to current year tax positions |  |  | — |  |  |  | — |
Increases related to prior year tax positions |  |  | — |  |  |  | 739 |
Decreases related to prior year tax positions |  |  | — |  |  |  | — |
Decreases related to expiration of prior year tax positions |  |  | — |  |  |  | — |
Decreases related to settlements of prior year tax positions |  |  | — |  |  |  | — |
Unrecognized tax benefits at end of year |  | $ | 739 |  |  | $ | 739 |
Schedule of Income Tax in the United States Jurisdiction and Various State Jurisdictions | The Company is subject to income tax in the United States federal jurisdiction and various state jurisdictions and has identified its federal tax return and tax returns in state jurisdictions below as “major” tax filings. These jurisdictions, along with the years still open to audit under the applicable statutes of limitation, are as follows:
Jurisdiction |  | Tax Years
Federal |  | 2020 – 2022
Alabama |  | 2020 – 2022
Arizona |  | 2019 – 2022
Arkansas |  | 2020 – 2022
California |  | 2019 – 2022
Colorado |  | 2019 – 2022
Connecticut |  | 2020 – 2022
Georgia |  | 2020 – 2022
Idaho |  | 2020 – 2022
Illinois |  | 2020 – 2022
Indiana |  | 2020 – 2022
Iowa |  | 2020 – 2022
Kansas |  | 2020 – 2022
Louisiana |  | 2020 – 2022
Michigan |  | 2020 – 2022
Minnesota |  | 2020 – 2022
Mississippi |  | 2020 – 2022
Missouri |  | 2020 – 2022
Nebraska |  | 2020 – 2022
New Mexico |  | 2020 – 2022
Oklahoma |  | 2020 – 2022
Oregon |  | 2020 – 2022
Pennsylvania |  | 2020 – 2022
Rhode Island |  | 2020 – 2022
South Carolina |  | 2020 – 2022
Tennessee |  | 2020 – 2022
Texas |  | 2019 – 2022

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