Income taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Taxes

Summary of reconciliation of the expected income tax expense on income (loss) before income taxes using the statutory federal income tax rate

A reconciliation of the expected income tax expense on income (loss) before income taxes using the statutory federal income tax rate of 35% for 2017 to income tax expense follows (in millions):

	December 31,
	2017
Income (loss) before income taxes	$	(26.9)
Statutory rate		35.0	%
Income tax expense (benefit) computed at statutory rate	$	(9.4)
Reconciling items
State income taxes (benefit), net of federal tax benefit		0.2
Nontaxable income allocated to non-controlling interest		1.9
Nontaxable income allocated to predecessor		5.3
Change in rates		1.4
Valulation allowance		1.0
Income Tax expense (benefit)	$	0.4

Summary of tax effects of the cumulative temporary differences resulting in the net deferred income tax asset (liability)

The tax effects of the cumulative temporary differences resulting in the net deferred income tax asset (liability) are as follows (in millions):

	December 31,
	2017		2016
Deferred income tax assets:
Equity based compensation	$	0.3	$	—
Net operating loss carryforward		6.2		—
Total non-current deferred income tax asset		6.5		—
Valuation allowance		(2.3)		—
Net non-current deferred income tax asset		4.2		—
Deferred income tax liabilities
Investment in partnership		(4.2)		—
Total non-current deferred income tax asset (liability)	$	—	$	—