Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Components of Income Tax Expense (Benefit)



	Successor Company					Predecessor Company
	Year Ended December 31, 2019		Period from June 4, 2018 through December 31, 2018				Period from January 1, 2018 through June 3, 2018
Current income tax expense
Federal	$	10,952	$	6,170			$	(1,430	)
State and local	2,656		8,888				4,026
Total current income tax expense	$	13,608	$	15,058			$	2,596

Deferred income tax expense (benefit)
Federal	$	6,999	$	(20,641	)		$	(138,311	)
State and local	1,656		(6,770		)		(41,144		)
Total deferred tax	8,655		(27,411		)		(179,455		)
Total income tax expense (benefit)	$	22,263	$	(12,353	)		$	(176,859	)

Total Income Tax Expense (Benefit) Differed From Amount Computed by Applying Federal Statutory Tax Rate

Total income tax expense (benefit) differed from the amount computed by applying the federal statutory tax rate of 21.0% for the Successor Company year ended December 31, 2019, and Successor Company period June 4, 2018 through December 31, 2018 and the Predecessor Company period January 1, 2018 through June 3, 2018, as a result of the following (dollars in thousands):



	Successor Company						Predecessor Company
	Year Ended December 31, 2019			Period from June 4, 2018 through December 31, 2018			Period from January 1, 2018 through June 3, 2018
Computed income tax expense at federal statutory rate on pre-tax income	$	17,539		$	10,284		$	109,052
State income tax expense, net of federal tax benefit	4,415			7,493			(25,288		)
Bankruptcy costs	446			(19,088		)	12,286
Change in state tax rates	—			(819		)	78
Section 162 disallowance	936			472			187
Change in valuation allowance	—			(104,629		)	29,188
Worthless stock loss	—			—			(115,439		)
Tax effect of sale of assets	—			72,797			(73,205		)
Cancellation of debt income	—			22,087			(152,099		)
Other reorganization charges	—			—			35,331
Change in uncertain tax positions	—			(2,733		)	—
Provision to return	(1,564		)	1,244			—
Other adjustments	491			539			3,050
Net income tax expense (benefit)	$	22,263		$	(12,353	)	$	(176,859	)

Tax Effects of Temporary Differences That Give Rise to Significant Portions of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities as of December 31, 2019 and 2018 are presented below (dollars in thousands):



	2019		2018
Deferred income tax assets:
Accounts receivable	$	1,332	$	962
Leases	42,374		—
Other liabilities	4,980		7,076
Debt costs	841		—
Interest limitation	3,966		1,335
Tax credits	—		41
Net operating loss	—		8,304
Total deferred income tax assets before valuation allowance	53,493		17,718
Less: valuation allowance	—		—
Total deferred tax assets	$	53,493	$	17,718
Deferred income tax liabilities:
Intangible assets	$	12,992	$	6,610
Property and equipment	22,465		23,492
Leases	36,666		—
Other	2,408		—
Total deferred income tax liabilities	$	74,531	$	30,102
Total net deferred income tax liabilities	$	21,038	$	12,384

Schedule of Unrecognized Tax Benefits Roll Forward

The following table reconciles uncertain tax positions during the relevant years (dollars in thousands):



	Successor Company						Predecessor Company
	Year Ended December 31, 2019			Period from June 4, 2018 through December 31, 2018			Period from January 1, 2018 through June 3, 2018
Balance at beginning of period	$	5,787		$	8,466		$	8,587
Increases for prior year tax positions	—			—			176
Decreases for prior year tax positions	(120		)	(834		)	(297		)
Decreases relating to settlements with taxing authorities and other	(16		)	(73		)	—
Decreases due to lapse of statute of limitations	—			(1,772		)	—
Balance at end of period	$	5,651		$	5,787		$	8,466