Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Taxes

Schedule of income tax provision

	Year Ended December 31,
(in thousands of dollars)	2015			2014		2013
Current tax expense:
Federal	$	—		$	53	$	85
State		113			—		—
Total current expense		113			53		85
Deferred tax expense (benefit):
Federal		(1,137	)		22,140		(1,260	)
State		(1,757	)		4,025		1,104
Total deferred expense (benefit)		(2,894	)		26,165		(156	)
Total tax expense (benefit)		(2,781	)	$	26,218	$	(71	)
Tax expense (benefit) attributable to controlling interests		(1,160	)		22,819	$	(1,223	)
Tax expense attributable to non-controlling interests		(1,621	)		3,399		1,152
Total income tax expense (benefit)		(2,781	)	$	26,218	$	(71	)

Schedule of reconciliation of the Company's provision for income taxes as reported and the amount computed by multiplying income before taxes, less non-controlling interest, by the U.S. federal statutory rate

(in thousands of dollars)	2015			2014			2013
Provision calculated at federal statutory income tax rate:
Net income before taxes	$	(11,858	)	$	251,838		$	22,334
Statutory rate		35	%		35	%		35	%
Income tax expense (benefit) computed at statutory rate	$	(4,150	)	$	88,144		$	7,817
Less: Non-controlling interests		2,911			(65,759	)		(9,009	)
Income tax expense (benefit) attributable to controlling interests		(1,239	)		22,385			(1,192	)
State and local income taxes, net of federal benefit		(1,011	)		626			(49	)
Reduction of TRA liability		(694	)		—			—
Equity compensation, shortfall		338			—			—
Change in enacted rate		(650	)		—			—
Change in valuation allowance		2,333			—			—
Other		(237	)		(192	)		18
Tax expense (benefit) attributable to controlling interests		(1,160	)		22,819			(1,223	)
Tax expense attributable to non-controlling interests		(1,621	)		3,399			1,152
Total income tax expense (benefit)(1)	$	(2,781	)	$	26,218		$	(71	)

(1)Deferred tax expense of the year ended December 31, 2015 includes the correction of an immaterial error from the year ended December 31, 2014, whereby deferred tax expense was overstated in 2014 and understated in 2015 by $0.9 million. We have determined that this adjustment is not material to the consolidated financial statements of any period presented.

Schedule of significant components of the Company's deferred tax assets and deferred tax liability

	As of December 31,
(in thousands of dollars)	2015			2014
Deferred tax assets
Net operating loss	$	9,414		$	8,223
Section 754 election tax basis adjustment		47,100			945
Alternative minimum tax credits		—			53
Other deferred tax asset		505			232
Total deferred tax assets		57,019			9,453
Deferred tax liabilities
Investment in consolidated subsidiary JEH		73,559			29,307
Noncurrent state deferred tax liability		4,099			7,449
Total deferred tax liabilities		77,658			36,756
Net deferred tax assets (liabilities)		(20,639	)		(27,303	)
Valuation allowance		(2,333	)		—
Net deferred tax assets (liabilities)	$	(22,972	)	$	(27,303	)