(3) Income Taxes (in thousands)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

(3)   Income Taxes (in thousands)

Our income tax is different than the expected amount computed using the applicable federal and state statutory income tax rates.  The reasons for and effects of such differences for the years ended December 31 are below: 

	2013			2012
Expected amount	$	10,784		$	12,064
State income taxes, net of federal benefit		1,540			1,723
Percentage depletion		(4,373	)		(1,816	)
Other		(289	)		(1,303	)
	$	7,662		$	10,668

The deferred tax assets and liabilities resulting from temporary differences between book and tax basis are comprised of the following at December 31:

	2013			2012
Long-term deferred tax assets:
Stock-based compensation	$	372		$	582
Investment in Savoy		1,885			1,582
Oil and gas properties		913			1,778
Net long-term deferred tax assets		3,170			3,942
Long-term deferred tax liabilities:
Coal properties		(46,474	)		(39,805	)
Net deferred tax liability	$	43,304		$	35,863

We have analyzed our filing positions in all of the federal and state jurisdictions where we are required to file income tax returns, as well as all open tax years in these jurisdictions.  We identified our federal tax return and our Indiana state tax return as “major” tax jurisdictions.  During 2012 the IRS completed an examination of our 2009 and 2010 federal tax returns and there were no significant adjustments.  During 2012 the State of Indiana completed their examination of our 2008-2010 returns and no adjustments were proposed.  We believe that our income tax filing positions and deductions will be sustained on audit and do not anticipate any adjustments that will result in a material change to our consolidated financial position.