Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Components of the Company's Income Tax (Provision) Benefit

The components of our income tax (provision) benefit were as follows for the periods indicated (in thousands):

	Year Ended December 31,
	2019		2018		2017
Current:
Federal	$	164	$	388	$	(1,418)
State	(375)		39		523
Total current	(211)		427		(895)
Deferred:
Federal	(2,063)		(752)		3,722
State	(22)		(184)		118
Total deferred	(2,085)		(936)		3,840
Total (provision for) benefit from income taxes	$	(2,296)	$	(509)	$	2,945

Reconciliation of Taxes Computed at the Corporate Federal Income Tax Rate to the Reported Income Tax (Provision)

A reconciliation of the (provision for) benefit from income taxes with amounts determined by applying the statutory U.S. federal income tax rate to income before income taxes was as follows for the periods indicated (in thousands):

	Year Ended December 31,
	2019			2018			2017
Pre-tax net book income (loss)	$	10,503		$	3,454		$	(3,427)
Statutory federal income tax (provision) benefit	$	(2,206)		$	(725)		$	1,165
State income tax (provision) benefit	(397)			(145)			736
Federal statutory depletion	—			—			153
Federal tax rate adjustment	—			—			2,007
Valuation allowance	—			—			(1,038)
Reverse valuation allowance	—			98			—
Return to provision adjustments	285			388			—
Other	22			(125)			(78)
Total (provision for) benefit from income taxes	$	(2,296)		$	(509)		$	2,945
Effective income tax rate (1) (2)	22		%	15		%	86		%

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(1)Excluding the adjustment related to the federal tax rate change, the effective income tax rate for 2018 is 26 percent.

(2)Excluding the adjustment related to the return to provision, the effective income tax rate for 2017 is 58 percent.

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 these items. The components of the federal deferred tax asset (liability) were as follows at the dates indicated (in thousands):

	December 31,
	2019		2018
Long-term deferred tax asset (liability):
Prepaid and other insurance	$	248	$	(170)
Property	(9,953)		(5,259)
Investments in unconsolidated affiliates	525		525
Valuation allowance related to investments in unconsolidated affiliates	(525)		(525)
Net operating loss	3,567		1,436
Other	(184)		(245)
Net long-term deferred tax liability	(6,322)		(4,238)
Net deferred tax liability	$	(6,322)	$	(4,238)

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	2015
Texas	2015
Louisiana	2016
Michigan	2015