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Note 13 - Income Taxes (Tables)
12 Months Ended
Dec. 31, 2022
Income Taxes.  
Schedule of income tax expense

Years ended December 31, 

(In thousands)

    

2022

    

2021

    

2020

Current taxes:

Federal

$

517

$

$

State

 

407

 

3

 

19

Current taxes

 

924

 

3

 

19

Deferred taxes:

Federal

 

28,389

 

6,518

 

(3,164)

State

 

840

 

(1,874)

 

(339)

Deferred taxes

 

29,229

 

4,644

 

(3,503)

Provision for income tax expense (benefit), net

$

30,153

$

4,647

$

(3,484)

Schedule of accounting for differences between income taxes computed at the federal statutory rate and the provision recorded for income taxes

Years ended December 31, 

(In thousands)

    

2022

    

2021

    

2020

Income taxes computed at the federal statutory rate

$

30,701

$

9,325

$

(1,762)

Effect of:

State taxes, net of federal benefits

 

1,422

 

796

 

(253)

State tax rate changes, net of federal benefits

(546)

(2,274)

Percentage depletion

 

(3,314)

 

(3,363)

 

(714)

PPP Loan forgiveness

 

 

 

(1,773)

Stock-based compensation

 

(1,499)

 

(194)

 

473

162(m) compensation limitation

3,481

Other, net

 

(92)

 

357

 

545

Total

$

30,153

$

4,647

$

(3,484)

Schedule of deferred tax assets and liabilities

December 31, 

(In thousands)

    

2022

    

2021

Deferred tax assets:

 

  

 

  

Loss carryforwards U.S. - Federal/States

$

6,598

$

15,975

Asset retirement obligations

 

6,359

 

5,175

Accrued expenses

 

3,257

 

744

Stock-based compensation

 

2,249

 

2,331

Total deferred tax assets

 

18,463

 

24,225

Deferred tax liabilities:

Depreciation & amortization

 

(54,100)

 

(30,631)

Net deferred tax liabilities

$

(35,637)

$

(6,406)