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Income Taxes
 12 Months Ended
Dec. 31, 2016
Income Taxes [Abstract]  
Income Taxes
(2)  Income Taxes

The following table shows the components of the Company’s income tax (provision) benefit (in thousands):

  
Years ended December 31,
 
  
2016
  
2015
  
2014
 
Current:
         
Federal
 
$
(2,103
)
 
$
(3,883
)
 
$
(8,626
)
State
  
(675
)
  
(190
)
  
(1,249
)
   
(2,778
)
  
(4,073
)
  
(9,875
)
Deferred:
            
Federal
  
777
   
5,011
   
5,878
 
State
  
80
   
(168
)
  
273
 
   
857
   
4,843
   
6,151
 
             
  
$
(1,921
)
 
$
770
  
$
(3,724
)

The following table summarizes the components of the income tax (provision) benefit (in thousands):

  
Years ended December 31,
 
  
2016
  
2015
  
2014
 
From continuing operations
 
$
(2,691
)
 
$
770
  
$
(3,561
)
From discontinued operations
  
-
   
-
   
(163
)
From equity investments
  
770
   
-
   
-
 
  
$
(1,921
)
 
$
770
  
$
(3,724
)

Taxes computed at the corporate federal income tax rate (inclusive of continuing operations, equity investments and discontinued operations) reconcile to the reported income tax (provision) as follows (in thousands):

  
Years ended December 31,
 
  
2016
  
2015
  
2014
 
Statutory federal income tax (provision) benefit
 
$
(1,552
)
 
$
716
  
$
(3,587
)
State income tax (provision) benefit
  
(387
)
  
(233
)
  
(634
)
Federal statutory depletion
  
62
   
144
   
549
 
Other
  
(44
)
  
143
   
(52
)
  
$
(1,921
)
 
$
770
  
$
(3,724
)

Deferred income taxes reflect the net difference between the financial statement carrying amounts and the underlying income tax basis in such items.  The components of the federal deferred tax asset (liability) are as follows (in thousands):

  
Years Ended December 31,
 
  
2016
  
2015
 
       
Long-term deferred tax asset (liability)
      
Prepaid and other insurance
 
$
(1,058
)
 
$
(1,243
)
Property
  
(7,341
)
  
(7,408
)
Equity method investment
  
606
   
-
 
Uniform capitalization
  
729
   
704
 
Other
  
(93
)
  
(51
)
Net long-term deferred tax  liability
  
(7,157
)
  
(7,998
)
Net deferred tax liability
 
$
(7,157
)
 
$
(7,998
)

Financial statement recognition and measurement of positions taken, or expected to be taken, by an entity in its income tax returns must consider the uncertainty and judgment involved in the determination and filing of income taxes.  Tax positions taken in an income tax return that are recognized in the financial statements must satisfy a more-likely-than-not recognition threshold, assuming that the tax position will be examined by taxing authorities with full knowledge of all relevant information.  The Company has no significant unrecognized tax benefits.  Interest and penalties associated with income tax liabilities are classified as income tax expense.

The earliest tax years remaining open for audit for federal and major states of operations are as follows:

 
Earliest Open
 
Tax Year
  
Federal
2013
Texas
2012
Louisiana
2013
Michigan
2012