Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Deferred Tax Assets and Liabilities

The significant components of the deferred income tax assets and liabilities as of December 31, 2022 and 2021 are as follows (in thousands):


	December 31
	2022		2021
Deferred tax assets:
Net operating loss carryforward and federal credits	$	63,200	$	93,294
Warrants	31,524		32,075
Operating lease obligation	15,727		13,266
Post-retirement employee benefits	3,081		—
Employee benefits other than post-retirement	5,666		6,919
Inventory reserve	2,920		2,714
Deferred revenue	4,863		10,918
Other	13,519		8,789
Deferred tax assets	140,500		167,975
Deferred tax liabilities:
Accelerated depreciation	(326,804)		(327,321)
Post-retirement employee benefits	—		(1,330)
Partnership items	(6,365)		(6,014)
Operating lease assets	(15,492)		(13,029)
State taxes	(24,207)		(19,158)
Goodwill and intangible assets	(18,952)		(14,553)
Valuation allowance against deferred tax assets	(3,861)		(3,861)
Deferred tax liabilities	(395,681)		(385,266)
Net deferred tax (liability)	$	(255,181)	$	(217,291)

Schedule of Components of Income Tax Expense (Benefit)

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


	Years Ended December 31
	2022		2021		2020
Current taxes:
Federal	$	6,965	$	—	$	(1,332)
Foreign	784		—		—
State	2,082		2,402		1,235
Deferred taxes:
Federal	45,644		65,027		19,701
Foreign	(57)		—		—
State	8,642		4,795		(1,209)

Total deferred tax expense	54,229		69,822		18,492
Total income tax expense (benefit) from continuing operations	$	64,060	$	72,224	$	16,314
Income tax expense (benefit) from discontinued operations	$	633	$	722	$	2,081

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
	2022		2021		2020
Statutory federal tax rate	21.0	%	21.0	%	21.0	%
Foreign income taxes	0.2	%	—	%	—	%
State income taxes, net of federal tax benefit	3.3	%	1.8	%	5.1	%
Tax effect of non-deductible warrant expense	—	%	—	%	16.6	%
Tax effect of stock compensation	0.2	%	—	%	—	%
Tax effect of other non-deductible expenses	0.1	%	0.5	%	3.2	%
Change to state statutory tax rates	(0.1)	%	—	%	(5.4)	%
Other	(0.1)	%	0.7	%	(1.1)	%
Effective income tax rate	24.6	%	24.0	%	39.4	%

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
	2022		2021		2020
Statutory federal tax rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal tax benefit	1.8	%	1.8	%	1.8	%
Change in federal statutory tax rates	—	%	—	%	—	%
Effective income tax rate	22.8	%	22.8	%	22.8	%