Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Reconciliation Between Statutory Federal Income Tax Rate and Effective Income Tax

Our income tax benefit was $9.7 million for the year ended December 31, 2021 compared to $25.6 million in 2020 and $500.3 million in 2019. Reconciliation between the statutory federal income tax rate and our effective income tax rate is as follows:

	Year Ended December 31,
	2021			2020			2019
Federal statutory tax rate		21.0	%		21.0	%		21.0	%
State, net of federal benefit		4.0			5.2			3.8
State rate and law change		(3.4	)		4.3			1.8
Valuation allowances		(24.8	)		(26.3	)		(3.8	)
Non-deductible equity compensation		0.8			(0.7	)		(0.2	)
Consolidated effective tax rate		(2.4	%)		3.5	%		22.6	%

Income Tax Expense (Benefit) Attributable to Income (Loss) Before Income Taxes

Income tax expense (benefit) attributable to income (loss) before income taxes consists of the following (in thousands):

	2021								2020									2019
	Current		Deferred			Total			Current			Deferred			Total			Current		Deferred			Total
U.S. federal	$	—	$	6,297		$	6,297		$	(366	)	$	(24,489	)	$	(24,855	)	$	—	$	(434,585	)	$	(434,585	)
U.S. state and local		7,984		(24,024	)		(16,040	)		(157	)		(540	)		(697	)		6,147		(71,853	)		(65,706	)
Total	$	7,984	$	(17,727	)	$	(9,743	)	$	(523	)	$	(25,029	)	$	(25,552	)	$	6,147	$	(506,438	)	$	(500,291	)

Significant Components of Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and liabilities are as follows:

	December 31,
	2021			2020
	(in thousands)
Deferred tax assets:
Net operating loss carryforward	$	788,375		$	879,339
Divestiture contract obligation		112,199			132,352
Deferred compensation		22,121			16,635
Equity compensation		4,833			5,445
Asset retirement obligations		21,734			18,923
Interest expense carryforward		53,876			15,757
Lease right-of-use assets		9,954			16,070
Cumulative mark-to-market loss		32,221			2,607
Other		12,181			12,082
Valuation allowances:
Federal		(67,984	)		(152,499	)
State, net of federal benefit		(203,085	)		(226,520	)
Total deferred tax assets		786,425			720,191
Deferred tax liabilities:
Depreciation and depletion		(879,163	)		(835,506	)
Operating lease liabilities		(9,247	)		(15,058	)
Other		(15,657	)		(4,894	)
Total deferred tax liabilities		(904,067	)		(855,458	)
Net deferred tax liability	$	(117,642	)	$	(135,267	)