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Taxes (Tables)
12 Months Ended
Dec. 31, 2017
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
Significant components of the provision for (benefit from) income taxes are as follows:
 
Successor
Predecessor
 
Year Ended December 31, 2017
 
October 2 through December 31, 2016
January 1 through October 1, 2016
 
Year Ended December 31, 2015
(In thousands)
 
 
 
 
 
 
Current:
 
 
 
 
 
 
Federal
$
835

 
$

$

 
$

State
31

 
(252
)
7

 
3

Total current
866

 
(252
)
7

 
3

Deferred:
 
 
 
 
 
 
Federal
(36,162
)
 
1,352

(4,720
)
 
(329,393
)
State
41

 
56

87

 
(43,990
)
Total deferred
(36,121
)
 
1,408

(4,633
)
 
(373,383
)
 
$
(35,255
)
 
$
1,156

$
(4,626
)
 
$
(373,380
)
Schedule of Effective Income Tax Rate Reconciliation
A reconciliation of the statutory federal income tax provision (benefit) at the statutory rate to the actual provision for (benefit from) income taxes follows:
 
Successor
Predecessor
 
Year Ended December 31, 2017
 
October 2 through December 31, 2016
January 1 through October 1, 2016
 
Year Ended December 31, 2015
(In thousands)
 
 
 
 
 
 
Income tax provision (benefit) at statutory rate
$
71,118

 
$
12,112

$
433,109

 
$
(1,150,283
)
Percentage depletion allowance
(31,255
)
 
(4,292
)
(3,681
)
 
(19,035
)
State taxes, net of effect of federal taxes
7,002

 
633

(46,122
)
 
(76,445
)
Reversal of cancellation of indebtedness income

 

(1,493,162
)
 

Worthless stock deduction

 

(80,077
)
 

Change in valuation allowance
(410,983
)
 
(7,655
)
1,185,326

 
865,146

Impact of Tax Cuts and Jobs Act of 2017
332,345

 


 

Other, net
(3,482
)
 
358

(19
)
 
7,237

 
$
(35,255
)
 
$
1,156

$
(4,626
)
 
$
(373,380
)
Schedule of Deferred Tax Assets and Liabilities
Significant components of the Company’s deferred tax assets and liabilities that result from carryforwards and temporary differences between the financial statement basis and tax basis of assets and liabilities are summarized as follows:
 
December 31, 2017
 
December 31, 2016
(In thousands)
 
 
 
Deferred tax assets:
 
 
 
Tax loss carryforwards
$
271,405

 
$
376,293

Tax credit carryforwards
29,736

 
22,798

Investment in tax partnerships & corporations
308,653

 
604,914

Other
28,321

 
39,251

Gross deferred tax assets
638,115

 
1,043,256

Valuation allowance
(610,571
)
 
(1,021,553
)
Total deferred tax assets
27,544

 
21,703

Deferred tax liabilities:
 
 
 
Plant and equipment
3,674

 
7,332

Other
1,351

 
14,258

Total deferred tax liabilities
5,025

 
21,590

Net deferred tax asset
22,519

 
113

Summary of Income Tax Contingencies
A reconciliation of the beginning and ending amounts of gross unrecognized tax benefits follows:
 
 
 (In thousands)
Balance at
January 1, 2015
$
34,709

Additions based on tax positions related to the current year
4,168

Balance at
December 31, 2015
38,877

Additions based on tax positions related to the current year
2,979

Additions for tax positions of prior years
2,709

Reductions as a result of lapses in the statute of limitations
(37,110
)
Balance at
December 31, 2016
7,455

Additions for tax positions of prior years

Additions for tax positions related to the current year
3,928

Reductions as a result of bankruptcy

Balance at
December 31, 2017
$
11,383