Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Taxes

Summary of income tax expense (benefit)

	Year Ended December 31,
(in thousands)	2019		2020		2021
Current income tax expense (benefit)	$	(539)		(55,517)		—
Deferred income tax expense (benefit)		(101,927)		(171)		117,123
Total income tax expense (benefit)	$	(102,466)		(55,688)		117,123

Summary of reconciliation of income tax expense

	Year Ended December 31,
(in thousands)	2019		2020		2021
Federal income tax expense (benefit)	$	(96,092)		(37,426)		94,235
State income tax expense (benefit), net of federal benefit		(17,089)		(6,998)		21,375
Non-deductible equity-based compensation		13,694		516		1,713
Charitable contributions		(2,473)		—		—
Carryback of NOLs		—		(11,225)		—
Other		(506)		(555)		(200)
Total income tax expense (benefit)	$	(102,466)		(55,688)		117,123

Schedule of temporary differences between assets and liabilities

	December 31,
(in thousands)	2020		2021
Deferred tax assets:
NOL carryforwards	$	60,606		92,896
Investment in Antero Midstream Partners		37,710		—
Equity-based compensation		2,590		1,815
Charitable contributions		2,496		2,582
Total deferred tax asset		103,402		97,293
Deferred tax liabilities:
Investment in Antero Midstream Partners		—		111,014
Total deferred tax liability		—		111,014
Net deferred tax asset (liability)	$	103,402		(13,721)