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Income Taxes

6 Months Ended

Jun. 30, 2020

13. Income Taxes

A reconciliation of the federal income tax provision at the statutory rate to the actual provision for (benefit from) income taxes follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019

	(In thousands)
Income tax provision at statutory rate	$	(10,105)	$	13,216	$	(15,794)	$	28,506
Percentage depletion allowance		(11,768)		(3,457)		(5,600)		(7,764)
State taxes, net of effect of federal taxes		(1,584)		831		(1,502)		1,843
Change in valuation allowance		19,531		(11,292)		20,381		(23,805)
Current expense associated with uncertain tax positions		5,132		844		3,101		1,437
AMT sequestration refund		—		—		(1,171)		—
Other, net		—		(51)		—		(56)
Provision for (benefit from) income taxes	$	1,206	$	91	$	(585)	$	161

During the quarter ended June 30, 2020, the Company received a $37.4 million refund from the Internal Revenue Service consisting of all the remaining refundable alternative minimum tax (AMT) credits and related interest. A FIN48 reserve has been established for $13.3 million, which represents 40% of the portion of the refund that is subject to audit risk.

- 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.

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