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Income Taxes
 12 Months Ended
Dec. 31, 2012
Income Taxes [Abstract]  
Income Taxes
(2)  Income Taxes

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
)

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
)

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
)

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
)

Financial statement recognition and measurement of positions taken, or expected to be taken, by an entity in its income tax returns must consider the uncertainty and judgment involved in the determination and filing of income taxes.  Tax positions taken in an income tax return that are recognized in the financial statements must satisfy a more-likely-than-not recognition threshold, assuming that the tax position will be examined by taxing authorities with full knowledge of all relevant information.  The Company has no significant unrecognized tax benefits.  Interest and penalties associated with income tax liabilities are classified as income tax expense.

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