Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes [Abstract]

Components of the Company's income tax (provision) benefit

The following table shows the components of the Company's income tax (provision) benefit (in thousands):

	Years ended December 31,
	2012			2011			2010
Current:
Federal	$	(10,282	)	$	(4,336	)	$	350
State		(1,176	)		(1,187	)		(721	)
		(11,458	)		(5,523	)		(371	)
Deferred:
Federal		(4,940	)		(7,407	)		(3,688	)
State		(438	)		99			(11	)
		(5,378	)		(7,308	)		(3,699	)
	$	(16,836	)	$	(12,831	)	$	(4,070	)

Income tax (benefit) expense allocable to continuing and discontinued operations

The following table summarizes the components of the income tax provision (benefit) (in thousands):

	Years ended December 31,
	2012			2011			2010
From continuing operations	$	(16,697	)	$	(13,107	)	$	(4,028	)
From discontinued operations		(139	)		276			(42	)
	$	(16,836	)	$	(12,831	)	$	(4,070	)

Reconciliation of taxes computed at the corporate federal income tax rate to the reported income tax (provision)

Taxes computed at the corporate federal income tax rate reconcile to the reported income tax (provision) as follows (in thousands):

	Years ended December 31,
	2012			2011			2010
Statutory federal income tax (provision) benefit	$	(15,619	)	$	(12,517	)	$	(4,445	)
State income tax (provision) benefit		(1,049	)		(707	)		(476	)
Federal statutory depletion		36			393			534
Foreign investment write-off		-			-			201
Other		(204	)		-			116
	$	(16,836	)	$	(12,831	)	$	(4,070	)

Components of the federal deferred tax asset (liability)

Deferred income taxes reflect the net difference between the financial statement carrying amounts and the underlying income tax basis in such items.  The components of the federal deferred tax asset (liability) are as follows (in thousands):

	Years Ended December 31,
	2012			2011
Current deferred tax asset (liability)
Allowance for doubtful accounts	$	581		$	772
Prepaid insurance		(815	)		(793	)
Fair value contracts		(6	)		(484	)
Net current deferred liability		(240	)		(505	)
Long-term deferred tax asset (liability)
Property		(15,957	)		(10,579	)
Uniform capitalization		552			471
Other		(221	)		160
Net long-term deferred tax  liability		(15,626	)		(9,948	)
Net deferred tax liability	$	(15,866	)	$	(10,453	)

Earliest tax years remaining for Federal and major states of operations

The earliest tax years remaining open for audit for Federal and major states of operations are as follows:

	Earliest Open
	Tax Year
Federal	2009
Texas	2008
Louisiana	2009
Michigan	2009