Income Taxes (Tables)

6 Months Ended

Jun. 30, 2022

Schedule of Components of Income Tax Expense (Benefit)

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Current income tax expense	$	(0.5)	$	—	$	(0.7)	$	(0.1)
Deferred income tax benefit (expense)	1.8		(6.6)		(1.2)		(7.9)
Total income tax benefit (expense)	$	1.3	$	(6.6)	$	(1.9)	$	(8.0)

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 before non-controlling interest and income taxes (in millions):


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Expected income tax benefit (expense) based on federal statutory rate	$	(17.8)	$	3.8	$	(25.9)	$	6.2
State income tax benefit (expense), net of federal benefit	(2.5)		0.6		(3.6)		0.8
Unit-based compensation (1)	—		(0.4)		(2.0)		(2.9)

Change in valuation allowance	21.0		(1.0)		28.1		(2.2)
Oklahoma statutory rate change (2)	—		(7.6)		—		(7.6)
Other	0.6		(2.0)		1.5		(2.3)
Total income tax benefit (expense)	$	1.3	$	(6.6)	$	(1.9)	$	(8.0)

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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%. 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.