Income Taxes (Tables)

6 Months Ended

Jun. 30, 2021

Schedule of Components of Income Tax Expense (Benefit)

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Current income tax expense	$	—	$	(0.4)	$	(0.1)	$	(0.7)
Deferred income tax benefit (expense)	(6.6)		(11.3)		(7.9)		22.7
Income tax benefit (expense)	$	(6.6)	$	(11.7)	$	(8.0)	$	22.0

Reconciliation of Total Income Tax Expense to Income before Income Taxes

The following schedule reconciles total income tax benefit (expense) and the amount calculated by applying the statutory U.S. federal tax rate to income (loss) before income taxes (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Expected income tax benefit (expense) based on federal statutory rate	$	3.8	$	(3.7)	$	6.2	$	63.6
State income tax benefit (expense), net of federal benefit	0.6		(1.0)		0.8		7.0
Unit-based compensation (1)	(0.4)		(6.8)		(2.9)		(4.4)
Non-deductible expense related to goodwill impairment	—		—		—		(43.4)
Change in valuation allowance	(1.0)		—		(2.2)		—
Oklahoma statutory rate change (2)	(7.6)		—		(7.6)		—
Other	(2.0)		(0.2)		(2.3)		(0.8)
Income tax benefit (expense)	$	(6.6)	$	(11.7)	$	(8.0)	$	22.0

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(1)Related to book-to-tax differences recorded upon the vesting of restricted incentive units.

(2)Oklahoma House Bill 2960 resulted in a change in the corporate income tax rate from 6% to 4%, effective January 1, 2022. Accordingly, we recorded deferred tax expense in the amount of $7.6 million for the three and six months ended June 30, 2021 due to a remeasurement of deferred tax assets.