Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Taxes

Schedule of income tax expense from continuing operations

For the years ended December 31, 2013,  2014, and 2015, income tax expense from continuing operations consisted of the following (in thousands):

	Year ended December 31,
	2013		2014		2015
Current income tax benefit	$	(4,000)		—		—
Deferred income tax expense		190,210		445,672		575,890
Total income tax expense from continuing operations	$	186,210		445,672		575,890

Schedule of reconciliation of income tax expense from continuing operations

Income tax expense from continuing operations differs from the amount that would be computed by applying the U.S. statutory federal income tax rate of 35% to income from continuing operations for the years ended December 31, 2013,  2014, and 2015 as a result of the following (in thousands):

	Year ended December 31,
	2013		2014		2015
Federal income tax expense	$	56,708		391,754		544,560
State income tax expense, net of federal benefit		21,429		25,545		26,983
Nondeductible equity-based compensation		127,736		29,141		16,441
Noncontrolling interest in Antero Midstream Partners LP		—		(787)		(13,521)
Change in valuation allowance		(20,919)		(120)		570
Other		1,256		139		857
Total income tax expense from continuing operations	$	186,210		445,672		575,890

Schedule of income tax expense (benefit) allocated to continuing and discontinued operations

For the years ended December 31, 2013,  2014, and 2015, income tax expense was allocated to continuing and discontinued operations as follows (in thousands):

	Year ended December 31,
	2013		2014		2015
Continuing operations	$	186,210		445,672		575,890
Discontinued operations and sale of discontinued operations		3,249		1,354		—
Total income tax expense	$	189,459		447,026		575,890

Schedule of net deferred tax assets and liabilities

The tax effect of the temporary differences giving rise to net deferred tax assets and liabilities at December 31, 2014 and 2015 is as follows (in thousands):

	2014		2015
Deferred tax assets:
Net operating loss carryforwards	$	431,681		521,617
Minimum tax credit carryforward		11,000		11,000
Equity-based compensation		10,032		16,130
Other		12,785		18,633
Total deferred tax assets		465,498		567,380
Valuation allowance		(26,639)		(27,209)
Net deferred tax assets		438,859		540,171
Deferred tax liabilities:
Unrealized gains on derivative instruments		601,859		1,167,983
Oil and gas properties		600,050		708,664
Investment in Antero Midstream Partners LP		31,746		34,210
Total deferred tax liabilities		1,233,655		1,910,857
Net deferred tax liabilities	$	(794,796)		(1,370,686)

Schedule of reconciliation of beginning and ending amount of unrecognized tax benefits

	2013		2014		2015
Balance at beginning of year	$	15,000		11,000		11,000
Revised estimate of unrecognized tax position		(4,000)		—		—
Balance at end of year	$	11,000		11,000		11,000