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Income Taxes | 9 Months Ended
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Sep. 30, 2017
Income Tax Disclosure [Abstract] |
Income Taxes | 17. Income Taxes The Company calculates its interim income tax provision in accordance with ASC 740. At the end of each interim period, the Company makes an estimate of the annual expected effective tax rate and applies that rate to its ordinary year to date earnings or loss. In addition, the effect of changes in enacted tax laws, rates or tax status is recognized in the interim period in which the change occurs. For the three months ended September 30, 2017 and 2016, the Company’s statutory rate was 35.0%; the effective tax rate was approximately 19.3% and (5.5%), respectively, based on the statutory federal rate net of discrete federal and state taxes. The computation of the effective tax rate includes modifications from the statutory rate such as share-based compensation, domestic manufacturing deduction, depletion deduction, and state income tax credits among others. The difference in the effective tax rate was primarily due to prior year refund claims for the calculation of the Company’s depletion deduction during the three months ended September 30, 2017 and non-deductible interest expense incurred during the three months ended September 30, 2016. For the nine months ended September 30, 2017 and 2016, the Company’s statutory rate was 35.0%; the effective tax rate was approximately 24.0% and 2.4%, respectively, based on the statutory federal rate net of discrete federal and state taxes. The difference in the effective tax rate was primarily due to prior year refund claims for the calculation of the Company’s depletion deduction during the nine months ended September 30, 2017 and non-deductible interest expense incurred during the nine months ended September 30, 2016. The Company has evaluated its tax provisions taken as of September 30, 2017 and December 31, 2016 and believes all positions taken would be upheld under examination from income taxing authorities. Therefore, no liability for the effects of uncertain tax positions has been recorded in the accompanying consolidated balance sheets as of September 30, 2017 and December 31, 2016. The Company is open to examination by taxing authorities since incorporation.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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