Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Deferred Tax Assets and Liabilities

The significant components of the deferred income tax assets and liabilities as of December 31, 2016 and 2015 are as follows (in thousands):



	December 31
	2016			2015
Deferred tax assets:
Net operating loss carryforward and federal credits	$	20,596		$	30,981
Warrants	4,746			—
Post-retirement employee benefits	27,060			36,589
Employee benefits other than post-retirement	13,785			13,773
Inventory reserve	2,727			2,924
Deferred revenue	7,728			8,650
Other	4,411			2,344
Deferred tax assets	81,053			95,261
Deferred tax liabilities:
Accelerated depreciation	(186,015		)	(175,572		)
Partnership items	(8,777		)	(9,489		)
State taxes	(8,564		)	(6,830		)
Valuation allowance against deferred tax assets	(229		)	(229		)
Deferred tax liabilities	(203,585		)	(192,120		)
Net deferred tax (liability)	$	(122,532	)	$	(96,859	)

Schedule of Components of Income Tax Expense (Benefit)

The following summarizes the Company’s income tax provisions (benefits) (in thousands):



	Years Ended December 31
	2016		2015		2014
Current taxes:
Federal	$	820	$	524	$	338
Foreign	—		—		—
State	151		371		345
Deferred taxes:
Federal	11,338		21,073		17,411
Foreign	—		—		—
State	1,085		1,440		1,608
Total deferred tax expense	12,423		22,513		19,019
Total income tax expense from continuing operations	$	13,394	$	23,408	$	19,702
Income tax expense (benefit) from discontinued operations	$	1,384	$	1,178	$	(1,262	)

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation of income tax from continuing operations computed at the U.S. statutory federal income tax rates to effective income tax rates is as follows:



	Years Ended December 31
	2016		2015		2014
Statutory federal tax rate	35.0	%	35.0	%	35.0	%
State income taxes, net of federal tax benefit	2.3	%	1.9	%	2.5	%
Tax effect of non-deductible warrant expense	4.0	%	—	%	—	%
Tax effect of stock compensation	(3.4	)%	—	%	—	%
Tax effect of other non-deductible expenses	1.6	%	0.9	%	0.8	%
Other	(0.6	)%	(0.4	)%	(0.2	)%
Effective income tax rate	38.9	%	37.4	%	38.1	%

Schedule of Effective Income Tax Rate Reconciliation, Discontinued Operations

The reconciliation of income tax from discontinued operations computed at the U.S. statutory federal income tax rates to effective income tax rates is as follows:



	Years Ended December 31
	2016		2015		2014
Statutory federal tax rate	35.0	%	35.0	%	(35.0	)%
State income taxes, net of federal tax benefit	1.3	%	1.3	%	(1.3	)%
Effective income tax rate	36.3	%	36.3	%	(36.3	)%