Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Significant Components of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities as of December 31 are as follows:

	2018			2017
Deferred tax assets:
Employee benefits	$	829		$	836
Inventories		3,902			2,309
Natural gas derivatives		—			610
Goodwill & other intangibles		2,350			3,179
Net operating loss		88,341			59,536
Foreign tax credits		667			667
Interest		2,200			552
Accrued expenses		3,496			—
Other		352			1,477
Total deferred tax assets		102,137			69,166
Deferred tax liabilities:
Depreciation		30,054			14,332
Indefinite-lived intangibles		817			209
Foreign		—			26
Total deferred tax liabilities		30,871			14,567
Valuation Allowance		72,380			54,829
Net deferred tax liabilities	$	(1,114	)	$	(230	)

Significant Components of Provision for Income Taxes

Significant components of the provision for income taxes for the years ended December 31 are as follows:

	2018			2017
Current:
Federal	$	—		$	(375	)
State		(34	)		(99	)
Foreign		42			581
Total current		8			107
Deferred		884			(2,134	)
	$	892		$	(2,027	)

Reconciliation of Income Taxes Computed at U.S. Statutory Tax Rate to Income Tax Expense

The reconciliation of income taxes computed at the U.S. statutory tax rate to the Company’s income tax expense for the years ended December 31 is as follows:

	2018						2017
	Amount			Percent			Amount			Percent
U.S. statutory rate	$	(15,658	)		(21.0	)%	$	(89,300	)		(35.0	)%
State income taxes, net of federal tax benefit		(2,152	)		(2.9	)		(5,684	)		(2.2	)
Mining depletion		(163	)		(0.2	)		(619	)		(0.2	)
Change in election for foreign tax credits		32			—			(667	)		(0.3	)
Foreign investments		271			0.4			8,569			3.4
Stock compensation excess tax deficiency		348			0.5			876			0.3
Other permanent differences		663			0.9			1,806			0.7
Tax reform deferred rate change		—			—			28,163			11.0
Valuation allowance		17,551			23.5			54,829			21.5
	$	892			1.2	%	$	(2,027	)		(0.8	)%