Taxes on Income

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Taxes on Income

(9) Taxes on Income

At September 30, 2022 and December 31, 2021, the Company had a federal income tax receivable of $70.5 million and $71.0 million, respectively, included in Accounts Receivable – Other on the balance sheets. During the three months ended March 31, 2021, the Company received a tax refund of $119.5 million, including accrued interest, for its 2019 federal tax return related to net operating losses being carried back to offset taxable income generated between 2014 and 2017.

Earnings (loss) before taxes on income and details of the provision (benefit) for taxes on income were as follows (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022		2021
Earnings (loss) before taxes on income:
United States	$	50,906		$	(325,369	)	$	114,167	$	(313,177	)
Foreign		51			(225	)		225		(583	)
	$	50,957		$	(325,594	)	$	114,392	$	(313,760	)
Provision (benefit) for taxes on income:
Federal:
Current	$	(6	)	$	(446	)	$	513	$	(446	)
Deferred		10,043			(55,772	)		23,764		(52,968	)
State and local:
Current		1,015			832			2,313		1,047
Deferred		608			(5,056	)		2,222		(3,480	)
Foreign - current		53			—			144		7
	$	11,713		$	(60,442	)	$	28,956	$	(55,840	)