Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Components of Income Tax Expense (Benefit) Table

The components of income tax expense (benefit) are as follows:

	Year Ended December 31,
thousands	2024		2023		2022
Current state income tax expense (benefit)	$	3,900	$	3,341	$	2,188
Deferred state income tax expense (benefit)	14,211		1,044		1,999
Total income tax expense (benefit)	$	18,111	$	4,385	$	4,187

Tax Rate Reconciliation Table

Total income taxes differed from the amounts computed by applying the statutory income tax rate to income (loss) before income taxes. The sources of these differences are as follows:

	Year Ended December 31,
thousands except percentages	2024			2023			2022
Income (loss) before income taxes	$	1,629,363		$	1,052,392		$	1,255,643
Statutory tax rate	—		%	—		%	—		%
Tax computed at statutory rate	$	—		$	—		$	—
Adjustments resulting from:
Texas margin tax expense (benefit)	18,111			4,385			4,187
Income tax expense (benefit)	$	18,111		$	4,385		$	4,187
Effective tax rate	1		%	—		%	—		%

Income Tax Temporary Differences Table

The tax effects of temporary differences that give rise to significant portions of deferred tax assets (liabilities) are as follows:

	December 31,
thousands	2024		2023
Depreciable property	$	(30,984)	$	(15,467)
Other intangible assets	(1,412)		(588)
Other	2,717		587
Net long-term deferred income tax liabilities	$	(29,679)	$	(15,468)