INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

Schedule Of Components Of Income Tax Expense (Benefit)

Income tax expense (benefit) included in the statements of operations is detailed below:

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(in thousands)	Year Ended December 31, 2019		February 9, 2018 Through December 31, 2018
Current taxes:
Federal	$	—	$	(69	)
State	—		—
	—		(69		)
Deferred taxes:
Federal	—		—
State	—		—
	—		—
Income tax expense (benefit)	$	—	$	(69	)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the statutory federal income tax expense to the income tax expense from continuing operations is as follows:



(Amounts in thousands)	Year Ended December 31, 2019					February 9, 2018 Through December 31, 2018
Federal income tax expense (benefit) - at statutory rate	$	(195,221	)	21.00	%	$	(682,378	)	21.00%
State income taxes - net of federal income tax benefit	(44,064		)	4.74		(154,022		)	4.74
Non-controlling interest	123,316			(13.27	)	833,239			(25.64	)
Return to provision	(1,690		)	0.18		(71		)	—
Change in valuation allowance	136,568			(14.69	)	3,135			(0.1	)
Permanent items	—			—		25			—
Other	(18,909		)	2.04		3			—
Income tax expense (benefit)	$	—		—	%	$	(69	)	—	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant positions of the deferred income tax assets and liabilities are presented below:



(in thousands)	December 31, 2019			December 31, 2018
Deferred tax asset:
Investment in SRII Opco, LP	$	424,086		$	269,846
59(e) capitalized IDC	53,814			—
NOL carryforward	29,866			101,337
Organizational/startup costs	144			154
Other	7			11
Total deferred tax assets	507,917			371,348
Less: valuation allowance	(507,917		)	(371,348		)
Net deferred tax assets	—			—

Deferred tax liability	—			—
Total net deferred tax assets/(liabilities)	$	—		$	—