Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Taxes

Summary of income tax expense (benefit)

	Year Ended December 31,
(in thousands)	2020		2021		2022
Current income tax expense (benefit)	$	(55,517)		—		—
Deferred income tax expense (benefit)		(171)		117,123		117,494
Total income tax expense (benefit)	$	(55,688)		117,123		117,494

Summary of reconciliation of income tax expense

	Year Ended December 31,
(in thousands)	2020		2021		2022
Federal income tax expense (benefit)	$	(37,426)		94,235		93,185
State income tax expense (benefit), net of federal effect		(6,998)		21,375		20,891
Equity-based compensation		516		1,713		1,027
Carryback of NOLs		(11,225)		—		—
Change in valuation allowance		—		—		2,582
Other		(555)		(200)		(191)
Total income tax expense (benefit)	$	(55,688)		117,123		117,494

Schedule of temporary differences between assets and liabilities

	December 31,
(in thousands)	2021		2022
Deferred tax assets:
NOL carryforwards	$	92,896		111,615
Equity-based compensation		1,815		2,766
Charitable contributions		2,582		2,582
Total deferred tax asset		97,293		116,963
Valuation allowance		—		(2,582)
Net deferred tax asset		97,293		114,381
Deferred tax liabilities:
Investment in Antero Midstream Partners		111,014		245,596
Total deferred tax liability		111,014		245,596
Net deferred tax liability	$	(13,721)		(131,215)