Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The following table presents our tax provision for the periods indicated:

	Year Ended December 31,
(in thousands)	2019			2018			2017
Current	$	541		$	1,323		$	1,221
Deferred	3,474			6,678			26,751
Tax Provision (1)	$	4,015		$	8,001		$	27,972
Effective Tax Rate	1.6		%	3.6		%	14.8		%

⁽¹⁾ 

A substantial portion of our tax provision represents federal income taxes associated with the assets contributed in the Drop-Down and Simplification Transaction.

Deferred Tax Assets and Liabilities, Balance Sheet Classification

Net deferred tax assets and liabilities were classified in the consolidated balance sheets as follows:

(in thousands)	December 31, 2019		December 31, 2018
Deferred Tax Asset (1)	$	—	$	29,201
Deferred Tax Liability (2)	229		—

⁽¹⁾  Our deferred tax asset is recorded within other noncurrent assets in our consolidated balance sheets. See Note 2. Summary of Significant Accounting Policies and Basis of Presentation for a discussion of the elimination of our deferred tax asset and liability prior to the Drop-Down and Simplification Transaction.

⁽²⁾ 

Our deferred tax liability is recorded within other noncurrent liabilities in our consolidated balance sheets.