Income Taxes (Table)

12 Months Ended

Dec. 31, 2024

Income Taxes

Summary of income tax expense (benefit)

	Year Ended December 31,
(in thousands)	2022		2023		2024
Current income tax benefit	$	—		(6,377)		—
Deferred income tax expense		117,494		134,664		147,729
Total income tax expense	$	117,494		128,287		147,729

Summary of reconciliation of income tax expense

	Year Ended December 31,
(in thousands)	2022		2023		2024
Federal income tax expense	$	93,185		105,015		115,210
State income tax expense, net of federal effect		20,891		18,740		26,520
Equity-based compensation		1,027		4,086		4,597
Charitable contributions		—		—		2,576
Change in valuation allowance		2,582		5		(2,350)
Other		(191)		441		1,176
Total income tax expense	$	117,494		128,287		147,729

Schedule of temporary differences between assets and liabilities

	December 31,
(in thousands)	2023		2024
Deferred income tax assets:
NOL carryforwards	$	115,284		117,854
Equity-based compensation		2,864		3,359
Charitable contributions		2,587		237
Total deferred income tax assets		120,735		121,450
Valuation allowance		(2,587)		(237)
Deferred income tax assets, net		118,148		121,213
Deferred income tax liability:
Investment in Antero Midstream Partners		384,027		534,821
Total deferred income tax liability		384,027		534,821
Deferred income tax liability, net	$	(265,879)		(413,608)