Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of income tax expense (benefit) from continuing operations

The following table summarizes income tax (benefit) expense.

	Years Ended December 31,
	2019			2018			2017
	(Thousands)
Current:
Federal	$	(106,487	)	$	(513,293	)	$	(89,149	)
State	5,774			(46,218		)	(5,184		)
Subtotal	(100,713		)	(559,511		)	(94,333		)
Deferred:
Federal	(213,397		)	20,496			(1,039,769		)
State	(61,666		)	(157,496		)	(54,314		)
Subtotal	(275,063		)	(137,000		)	(1,094,083		)
Total income tax benefit	$	(375,776	)	$	(696,511	)	$	(1,188,416	)

Schedule of reconciliation of income tax expense to amount computed at the federal statutory rate

Income tax benefit from continuing operations differed from amounts computed at the federal statutory rate of 21% for 2019 and 2018 and 35% for 2017 on pre-tax income for reasons summarized below.

	Years Ended December 31,
	2019			2018			2017
	(Thousands)
Tax at statutory rate	$	(335,469	)	$	(646,261	)	$	69,515
Federal tax law change	—			5,288			(1,205,140		)
State income taxes	(119,659		)	(251,780		)	(57,414		)
Valuation allowance	70,875			88,785			10,680
Regulatory liability/asset	—			(276		)	10,488
Federal tax credits	(7,908		)	(2,400		)	(34,956		)
Goodwill impairment	—			111,470			—
Other	16,385			(1,337		)	18,411
Income tax benefit	$	(375,776	)	$	(696,511	)	$	(1,188,416	)
Effective tax rate	23.5		%	22.6		%	(598.4		)%

Schedule of reconciliation of the beginning and ending amount of reserve for uncertain tax positions(excluding interest and penalties)

The following table reconciles the beginning and ending amount of reserve for uncertain tax positions, excluding interest and penalties.

	2019			2018			2017
	(Thousands)
Balance at January 1	$	315,279		$	301,558		$	252,434
Additions for tax positions taken in current year	19,431			8,459			50,469
Additions for tax positions taken in prior years	8,929			14,396			8,978
Reductions for tax positions taken in prior years	(84,051		)	(9,134		)	(10,323		)
Balance at December 31	$	259,588		$	315,279		$	301,558

Summary of source and tax effects of temporary differences between financial reporting and tax bases of assets and liabilities

The following table summarizes the source and tax effects of temporary differences between financial reporting and tax bases of assets and liabilities.

	December 31,
	2019			2018
	(Thousands)
Deferred income taxes:
Total deferred income tax assets	$	(643,227	)	$	(549,969	)
Total deferred income tax liabilities	2,129,041			2,373,350
Total net deferred income tax liabilities	1,485,814			1,823,381
Total deferred income tax liabilities (assets):
Drilling and development costs expensed for income tax reporting	1,100,061			1,469,320
Tax depreciation in excess of book depreciation	974,520			904,030
Investment in Equitrans Midstream	(109,883		)	(10,359		)
Incentive compensation and deferred compensation plans	(16,923		)	(24,682		)
Net operating loss carryforwards	(635,446		)	(429,983		)
Alternative minimum tax credit carryforward	(190,992		)	(308,727		)
Federal tax credits	(59,854		)	(37,710		)
Unrealized gains (losses)	54,460			(28,096		)
Interest disallowance limitation	(46,776		)	(35,358		)
Other	(6,797		)	(26,462		)
Total excluding valuation allowances	1,062,370			1,471,973
Valuation allowances	423,444			351,408
Total net deferred income tax liabilities	$	1,485,814		$	1,823,381