Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

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,
	2013			2012			2011
Current:
Federal	$	(8,102	)	$	(10,282	)	$	(4,336	)
State		(892	)		(1,176	)		(1,187	)
		(8,994	)		(11,458	)		(5,523	)
Deferred:
Federal		(2,682	)		(4,940	)		(7,407	)
State		(478	)		(438	)		99
		(3,160	)		(5,378	)		(7,308	)

	$	(12,154	)	$	(16,836	)	$	(12,831	)

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

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

	Years ended December 31,
	2013			2012			2011
From continuing operations	$	(12,429	)	$	(16,664	)	$	(12,717	)
From discontinued operations		275			(172	)		(114	)
	$	(12,154	)	$	(16,836	)	$	(12,831	)

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,
	2013			2012			2011
Statutory federal income tax (provision) benefit	$	(11,819	)	$	(15,619	)	$	(12,517	)
State income tax (provision) benefit		(891	)		(1,049	)		(707	)
Federal statutory depletion		522			36			393
Other		34			(204	)		-
	$	(12,154	)	$	(16,836	)	$	(12,831	)

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,
	2013			2012
Current deferred tax asset (liability)
Allowance for doubtful accounts	$	424		$	581
Prepaid and other insurance		(855	)		(815	)
Fair value contracts		73			(6	)
Net current deferred liability		(358	)		(240	)

Long-term deferred tax asset (liability)
Property		(18,964	)		(15,957	)
Uniform capitalization		613			552
Other		(283	)		(221	)
Net long-term deferred tax liability		(18,634	)		(15,626	)
Net deferred tax liability	$	(18,992	)	$	(15,866	)

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	2010
Texas	2009
Louisiana	2010
Michigan	2010