Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Deferred Tax Assets and Liabilities

The significant components of the deferred income tax assets and liabilities as of December 31, 2019 and 2018 are as follows (in thousands):



	December 31
	2019			2018
Deferred tax assets:
Net operating loss carryforward and federal credits	$	40,467		$	55,760
Lease Obligation	9,070			—
Warrants	17,174			7,314
Post-retirement employee benefits	6,355			13,777
Employee benefits other than post-retirement	9,435			8,751
Inventory reserve	2,055			2,374
Deferred revenue	5,132			4,389
Other	9,309			5,333
Deferred tax assets	98,997			97,698
Deferred tax liabilities:
Accelerated depreciation	(192,651		)	(189,719		)
Partnership items	(6,088		)	(5,850		)
Operating lease assets	(9,051		)	—
Goodwill	(4,916		)	(620		)
State taxes	(12,355		)	(14,474		)
Valuation allowance against deferred tax assets	(1,412		)	(278		)
Deferred tax liabilities	(226,473		)	(210,941		)
Net deferred tax (liability)	$	(127,476	)	$	(113,243	)

Schedule of Components of Income Tax Expense (Benefit)

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



	Years Ended December 31
	2019			2018			2017
Current taxes:
Federal	$	1,332		$	—		$	9
Foreign	1			—			48
State	138			1,043			590
Deferred taxes:
Federal	14,155			15,642			27,625
Foreign	—			(63		)	—
State	(3,677		)	2,973			3,396
Change in federal statutory tax rates	—			—			(59,944		)
Total deferred tax expense	10,478			18,552			(28,923		)
Total income tax expense (benefit) from continuing operations	$	11,589		$	19,595		$	(28,276	)
Income tax expense (benefit) from discontinued operations	$	360		$	434		$	(1,848	)

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
	2019		2018		2017
Statutory federal tax rate	21.0	%	21.0	%	35.0	%
Foreign income taxes	—	%	(0.1	)%	(0.5	)%
State income taxes, net of federal tax benefit	1.4	%	(0.2	)%	(39.7	)%
Tax effect of non-deductible warrant expense	(2.9	)%	(1.5	)%	(485.0	)%
Tax effect of stock compensation	—	%	(0.8	)%	21.7	%
Tax effect of other non-deductible expenses	1.7	%	0.8	%	(19.6	)%
Change in federal and state tax laws	—	%	—	%	917.2	%
Change to state statutory tax rates	(5.4	)%	3.8	%	—	%
Other	0.4	%	(0.6	)%	3.5	%
Effective income tax rate	16.2	%	22.4	%	432.6	%

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
	2019		2018		2017
Statutory federal tax rate	21.0	%	21.0	%	35.0	%
State income taxes, net of federal tax benefit	1.8	%	2.6	%	1.3	%
Change in federal statutory tax rates	—	%	—	%	—	%
Effective income tax rate	22.8	%	23.6	%	36.3	%