Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Income Tax Benefit (Expense)

Income tax benefit (in thousands) consisted of the following for the years ended December 31, 2019, 2018 and 2017:



	Year ended December 31,
	2019			2018			2017
Current:
Federal	$	—		$	1,076		$	(10,754	)
State	(1,188		)	(2,496		)	(1,167		)
Foreign	(1,343		)	(518		)	—
	(2,531		)	(1,938		)	(11,921		)
Deferred:
Federal	90,457			25,578			22,641
State	11,225			5,492			(2,040		)
Foreign	—			—			—
	101,682			31,070			20,601
Income tax benefit	$	99,151		$	29,132		$	8,680

Schedule of Effective Income Tax Rate on Pretax Earnings

Income tax benefit (in thousands) differed from the amount that would be provided by applying the U.S. federal statutory rate for the years ended December 31, 2019, 2018 and 2017 due to the following:



	Year ended December 31,
	2019			2018			2017
Income tax (expense) benefit computed at U.S. federal statutory rate	$	90,070		$	48,290		$	(47,784	)
Decrease (increase) resulting from:
Statutory depletion	4,679			12,090			20,259
Goodwill impairment	—			(29,157		)	—
Prior year tax return reconciliation	3,121			530			219
State income taxes, net of federal benefit	9,486			2,592			(2,267		)
Adjustment to deferred taxes from the Tax Act rate reduction	—			—			35,772
Equity compensation	(6,440		)	(653		)	2,602
Other, net	(1,765		)	(4,560		)	(121		)
Income tax benefit	$	99,151		$	29,132		$	8,680

Schedule of Tax Effects on Deferred Tax Assets and Liabilities

The tax effects of the types of temporary differences and carry forwards that gave rise to deferred tax assets and liabilities (in thousands) at December 31, 2019 and 2018 consisted of the following:



	December 31,
	2019			2018
Gross deferred tax assets:
Net operating loss carry forward and state tax credits	$	32,173		$	11,089
Pension and post-retirement benefit costs	13,976			13,303
Alternative minimum tax credit carry forward	7,895			15,971
Property, plant and equipment	7,179			5,474
Accrued expenses	15,336			27,025
Inventories	6,507			774
Third-party products liability	236			231
Stock-based compensation expense	2,390			8,199
Note payable	109			3,724
Interest expense limitation	22,324			—
Lease obligation liability	29,604			—
Other	5,191			8,116
Total deferred tax assets	142,920			93,906
Gross deferred tax liabilities:
Land and mineral property basis difference	(124,182		)	(165,002		)
Fixed assets and depreciation	(44,314		)	(55,596		)
Intangibles	(12,541		)	(10,346		)
Other	(468		)	(201		)
Total deferred tax liabilities	(181,505		)	(231,145		)
Net deferred tax liabilities	$	(38,585	)	$	(137,239	)