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Income Taxes (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2014
Dec. 31, 2013
Income Taxes [Abstract]    
Summary Of Income Tax Expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014

 

 

2013

 

Three months ended March 31

 

38.7% 

 

 

41.1% 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Years Ended December 31,

(Thousands of dollars)

 

2013

 

2012

 

2011

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations before income taxes

 

$

257,677 

 

 

150,119 

 

 

310,813 

 

 

 

 

 

 

 

 

 

 

Income tax expense (benefit)

 

 

 

 

 

 

 

 

 

Federal - Current

 

$

89,700 

 

 

64,059 

 

 

75,946 

Federal - Deferred

 

 

(4,761)

 

 

(17,098)

 

 

17,716 

State - Current and deferred

 

 

16,412 

 

 

16,744 

 

 

29,298 

Total

 

$

101,351 

 

 

63,705 

 

 

122,960 

 

Schedule Of Reconciliation Of Income Taxes To Statutory Rate  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Years Ended December 31,

(Thousands of dollars)

 

2013

 

2012

 

2011

 

 

 

 

 

 

 

 

 

 

Income tax expense based on the U.S. statutory tax rate

 

$

90,187 

 

 

52,542 

 

 

108,785 

State income taxes, net of federal benefit

 

 

10,668 

 

 

10,884 

 

 

19,044 

Other, net

 

 

496 

 

 

279 

 

 

(4,869)

Total

 

$

101,351 

 

 

63,705 

 

 

122,960 

 

Summary Of Deferred Tax Assets And Deferred Tax Liabilities  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Years Ended December 31,

(Thousands of dollars)

 

2013

 

2012

 

 

 

 

 

 

 

Deferred tax assets

 

 

 

 

 

 

Property costs

 

$

6,456 

 

 

5,729 

Asset retirement obligations

 

 

5,844 

 

 

6,187 

Other deferred tax assets

 

 

9,479 

 

 

5,507 

Total gross deferred tax assets

 

 

21,779 

 

 

17,423 

Less valuation allowance

 

 

 -

 

 

 -

Net deferred tax assets

 

 

21,779 

 

 

17,423 

 

 

 

 

 

 

 

Deferred tax liabilities

 

 

 

 

 

 

Accumulated depreciation and amortization

 

 

(115,737)

 

 

(127,182)

Deferred turnaround costs

 

 

(84)

 

 

(137)

State deferred taxes

 

 

(16,423)

 

 

(13,789)

Other deferred tax liabilities

 

 

(11,610)

 

 

(18,911)

Total gross deferred tax liabilities

 

 

(143,854)

 

 

(160,019)

Net deferred tax liabilities

 

$

(122,075)

 

 

(142,596)