Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

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,
	2015			2014			2013
Current:
Federal	$	(3,883	)	$	(8,626	)	$	(8,102	)
State		(190	)		(1,249	)		(892	)
		(4,073	)		(9,875	)		(8,994	)
Deferred:
Federal		5,011			5,878			(2,682	)
State		(168	)		273			(478	)
		4,843			6,151			(3,160	)
	$	770		$	(3,724	)	$	(12,154	)

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,
	2015		2014			2013
From continuing operations	$	770	$	(3,561	)	$	(12,429	)
From discontinued operations		-		(163	)		275
	$	770	$	(3,724	)	$	(12,154	)

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,
	2015			2014			2013
Statutory federal income tax (provision) benefit	$	716		$	(3,587	)	$	(11,819	)
State income tax (provision) benefit		(233	)		(634	)		(891	)
Federal statutory depletion		144			549			522
Other		143			(52	)		34
	$	770		$	(3,724	)	$	(12,154	)

Components of the federal deferred tax asset (liability)

The components of the federal deferred tax asset (liability) are as follows (in thousands):

	Years Ended December 31,
	2015			2014
Current deferred tax asset (liability)
Allowance for doubtful accounts	$	-		$	62
Prepaid and other insurance		-			(719	)
Fair value contracts		-			(1	)
Net current deferred liability		-			(658	)
Long-term deferred tax asset (liability)
Prepaid and other insurance		(1,243	)		-
Property		(7,408	)		(12,673	)
Uniform capitalization		704			661
Other		(51	)		(170	)
Net long-term deferred tax  liability		(7,998	)		(12,182	)
Net deferred tax liability	$	(7,998	)	$	(12,840	)

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	2012
Texas	2011
Louisiana	2012
Michigan	2011