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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

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,
		2024				2023				2022
Current provision		$	173			$	97			$	1,925
Deferred provision			—				—				—
Total		$	173			$	97			$	1,925

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,
		2024				2023				2022
Statutory rate			21.0	%			21.0	%			21.0	%
State income taxes, net of federal benefit			5.5				4.6				5.8
Change in valuation allowance			(29.3	)			(23.4	)			(33.9	)
Stock-based compensation			(0.4	)			(2.3	)			3.1
Non-deductible items			(0.1	)			0.8				(1.6	)
Other			3.0				(1.0	)			0.6
Effective rate			(0.3	)%			(0.3	)%			(5.0	)%

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,
		2024				2023
Deferred tax assets:
Net operating loss carryforwards		$	64,901			$	57,870
Capital loss			26,692				26,518
Disallowed interest			5,048				3,457
R&D, Energy and AMT credits			3,742				3,742
Derivatives			—				3,051
Intangibles			2,981				1,201
Pension liability			1,016				1,173
Railcar contracts			1,090				818
Stock-based compensation			803				696
Allowance for credit losses and other assets			1,059				296
Other			4,971				3,340
Total gross deferred tax assets			112,303				102,162
Less: valuation allowance			(110,687	)			(93,506	)
Total deferred tax assets, net of valuation allowance			1,616				8,656
Deferred tax liabilities:
Property and equipment			(703	)			(7,720	)
Derivatives			(574	)			—
Other			(575	)			(1,172	)
Total deferred tax liabilities			(1,852	)			(8,892	)
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
2025–2029		$	—			$	30,603
2030–2034			15,126				76,920
2035–2039			83,771				112,608
2040 and after*			128,776				56,293
Total NOLs		$	227,673			$	276,424

* Includes indefinite life federal net operating losses of $128.8 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,
		2024				2023
Unrecognized tax benefits at beginning of year		$	739			$	739
Increases related to current year tax positions			—				—
Decreases related to current year tax positions			—				—
Increases related to prior year tax positions			—				—
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		2021 – 2023
Alabama		2021 – 2023
Arizona		2020 – 2023
Arkansas		2021 – 2023
California		2020 – 2023
Colorado		2020 – 2023
Connecticut		2021 – 2023
Georgia		2021 – 2023
Idaho		2021 – 2023
Illinois		2021 – 2023
Indiana		2021 – 2023
Iowa		2021 – 2023
Kansas		2021 – 2023
Louisiana		2021 – 2023
Michigan		2021 – 2023
Minnesota		2021 – 2023
Mississippi		2021 – 2023
Missouri		2021 – 2023
Nebraska		2021 – 2023
New Mexico		2021 – 2023
Oklahoma		2021 – 2023
Oregon		2021 – 2023
Pennsylvania		2021 – 2023
Rhode Island		2021 – 2023
South Carolina		2021 – 2023
Tennessee		2021 – 2023
Texas		2020 – 2023

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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.

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Tabular disclosure of the change in unrecognized tax benefits.

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