Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

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

	Year Ended December 31,
	2023		2022		2021
Current income tax expense	$	(0.7)	$	(0.4)	$	(0.8)
Deferred income tax benefit (expense)	(62.1)		95.3		(24.6)
Income tax benefit (expense)	$	(62.8)	$	94.9	$	(25.4)

Reconciliation of Total Income Tax Expense to Income before Income Taxes

The following schedule reconciles 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):

	Year Ended December 31,
	2023		2022		2021
Expected income tax expense based on federal statutory tax rate	$	(56.5)	$	(55.9)	$	(10.0)
State income tax expense, net of federal benefit	(7.2)		(7.0)		(1.4)
Unit-based compensation (1)	7.7		0.7		(3.1)
Statutory rate changes (2)	—		—		(10.2)
Change in valuation allowance	(1.2)		151.6		1.7
Other	(5.6)		5.5		(2.4)
Total income tax benefit (expense)	$	(62.8)	$	94.9	$	(25.4)

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(1)Related to book-to-tax differences recorded upon the vesting of unit-based awards.

(2)Effective January 1, 2022, Oklahoma House Bill 2960 resulted in a change in the corporate income tax rate from 6% to 4% and Louisiana Senate Bill No. 159 resulted in a change in the corporate income tax rate from 8% to 7.5%. Accordingly, we recorded deferred tax expense related to our Oklahoma and Louisiana operations in the amount of $7.6 million and $2.6 million, respectively, for the year ended December 31, 2021 due to a remeasurement of deferred tax assets.

Schedule of Deferred Tax Assets and Liabilities

Our deferred income tax assets and liabilities as of December 31, 2023 and 2022 are as follows (in millions):

	December 31, 2023		December 31, 2022
Deferred income tax assets:
Federal net operating loss carryforward	$	627.2	$	636.5
State net operating loss carryforward	77.2		77.6
Interest deduction limitation (1)	53.0		57.6
Other	2.1		2.4
Total deferred tax assets, gross	759.5		774.1
Valuation allowance	(1.2)		—
Total deferred tax assets, net of valuation allowance	758.3		774.1
Deferred tax liabilities:
Property, plant, equipment, and intangible assets (2)	(862.5)		(816.8)
Total deferred tax liabilities	(862.5)		(816.8)
Deferred tax liability, net	$	(104.2)	$	(42.7)

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(1)Related to book-to-tax differences between the allowable interest deduction amount under Section 163j of the Internal Revenue Code of 1986, as amended.

(2)Includes our investment in ENLK and primarily relates to differences between the book and tax bases of property and equipment.