Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Taxes

Schedule of income tax expense from continuing operations

For the years ended December 31, 2014,  2015, and 2016, income tax expense (benefit) from continuing operations consisted of the following (in thousands):

	Year ended December 31,
	2014		2015		2016
Current income tax benefit	$	—		—		(10,984)
Deferred income tax expense (benefit)		445,672		575,890		(485,392)
Total income tax expense (benefit) from continuing operations	$	445,672		575,890		(496,376)

Schedule of reconciliation of income tax expense from continuing operations

Income tax expense (benefit) 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, 2014,  2015, and 2016 as a result of the following (in thousands):

	Year ended December 31,
	2014		2015		2016
Federal income tax expense (benefit)	$	391,754		544,560		(436,038)
State income tax expense (benefit), net of federal benefit		25,545		26,983		(20,364)
Nondeductible equity-based compensation		29,141		16,441		3,691
Noncontrolling interest in Antero Midstream Partners LP		(787)		(13,521)		(34,780)
Change in valuation allowance		(120)		570		(10,852)
Other		139		857		1,967
Total income tax expense from continuing operations	$	445,672		575,890		(496,376)

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

For the years ended December 31, 2014,  2015, and 2016, income tax expense (benefit) was allocated to continuing and discontinued operations as follows (in thousands):

	Year ended December 31,
	2014		2015		2016
Continuing operations	$	445,672		575,890		(496,376)
Discontinued operations and sale of discontinued operations		1,354		—		—
Total income tax expense	$	447,026		575,890		(496,376)

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, 2015 and 2016 is as follows (in thousands):

	2015		2016
Deferred tax assets:
Net operating loss carryforwards	$	521,617		562,355
Minimum tax credit carryforward		11,000		—
Equity-based compensation		16,130		20,344
Other		18,633		16,483
Total deferred tax assets		567,380		599,182
Valuation allowance		(27,209)		(16,357)
Net deferred tax assets		540,171		582,825
Deferred tax liabilities:
Unrealized gains on derivative instruments		1,167,983		605,487
Oil and gas properties		708,664		866,003
Investment in Antero Midstream Partners LP		34,210		54,052
Other		—		7,500
Total deferred tax liabilities		1,910,857		1,533,042
Net deferred tax liabilities	$	(1,370,686)		(950,217)

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

	2014		2015		2016
Balance at beginning of year	$	11,000		11,000		11,000
Reductions for tax positions of prior years		—		—		(11,000)
Balance at end of year	$	11,000		11,000		—