Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Summary of Provision for Income Taxes from Continuing Operations

The following table summarizes our provision for income taxes for the periods presented:



	Year Ended December 31,
	2015			2014			2013
Current income taxes (benefit)
Federal	$	(660	)	$	2,045		$	—
State	1			1,504			—
	(659		)	3,549			—
Deferred income tax benefit
Federal	(261		)	(130,693		)	(77,046		)
State	(4,451		)	(4,534		)	(650		)
	(4,712		)	(135,227		)	(77,696		)
	$	(5,371	)	$	(131,678	)	$	(77,696	)

Income Taxes Reconciliation

The following table reconciles the difference between the income tax benefit computed by applying the statutory tax rate to our loss before income taxes and our reported income tax benefit for the periods presented:



	Year Ended December 31,
	2015					2014					2013
Computed at federal statutory rate	$	(555,916	)	35.0	%	$	(189,445	)	35.0	%	$	(77,268	)	35.0	%
State income taxes, net of federal income tax benefit	(4,438		)	0.3	%	(3,556		)	0.6	%	(650		)	0.3	%
Change in valuation allowance	554,879			(35.0	)%	61,104			(11.3	)%	—			—	%
Other, net	104			—	%	219			—	%	222			(0.1	)%
	$	(5,371	)	0.3	%	$	(131,678	)	24.3	%	$	(77,696	)	35.2	%

Summary of Principal Components of Net Deferred Income Tax Liability

The following table summarizes the principal components of our deferred income tax assets and liabilities as of the dates presented:



	As of December 31,
	2015			2014
Deferred tax assets:
Property and equipment	$	417,535		$	—
Pension and postretirement benefits	2,276			2,370
Share-based compensation	7,393			7,171
Net operating loss (“NOL”) carryforwards	222,971			102,098
Deferred gains	30,382			33,704
Other	16,637			19,875
	697,194			165,218
Less: Valuation allowance	(662,909		)	(105,615		)
Total net deferred tax assets	34,285			59,603
Deferred tax liabilities:
Fair value of derivative instruments	34,285			57,707
Property and equipment	—			6,347
Total net deferred tax liabilities	34,285			64,054
Net deferred tax liabilities	$	—		$	4,451