Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

The items comprising the provision (benefit) for income taxes are as follows for the periods presented:



	Year ended December 31,
In thousands	2015			2014		2013
Current income tax provision:
United States federal	$	—		$	—	$	6,193
Various states	24			20		16
Total current income tax provision	24			20		6,209
Deferred income tax provision (benefit):
United States federal	(140,578		)	527,315		403,002
Various states	(40,863		)	57,362		39,619
Total deferred income tax provision (benefit)	(181,441		)	584,677		442,621
Total provision (benefit) for income taxes	$	(181,417	)	$	584,697	$	448,830

Schedule of Provision for Income Taxes with Income Tax at Federal Statutory Rate



	Year ended December 31,
In thousands	2015			2014			2013
Expected income tax expense (benefit) based on US statutory tax rate of 35%	$	(187,280	)	$	546,713		$	424,567
State income taxes, net of federal benefit	(16,219		)	42,169			25,838
Canadian valuation allowance	13,503			4,389			—
Effect of differing statutory tax rate in Canada	5,239			(1,900		)	—
Other, net	3,340			(6,674		)	(1,575		)
Provision (benefit) for income taxes	$	(181,417	)	$	584,697		$	448,830

Components of Deferred Tax Assets and Liabilities

The components of the Company’s deferred tax assets and deferred tax liabilities as of December 31, 2015 and 2014 are reflected in the table below. As discussed in Note 1. Organization and Summary of Significant Accounting Policies—New accounting pronouncements, in November 2015 the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes. This new standard requires that all deferred tax assets and deferred tax liabilities, along with any related valuation allowance, be classified as noncurrent on the balance sheet. The new standard was early-adopted by the Company as of December 31, 2015 on a retrospective basis to all prior balance sheet periods presented. Accordingly, all deferred tax assets and deferred tax liabilities have been reflected as noncurrent and the Company reclassified $36.2 million and $145.3 million as of December 31, 2015 and 2014, respectively, from "Accrued liabilities and other" to “Deferred income tax liabilities, net” on the consolidated balance sheets.



	December 31,
In thousands	2015			2014
Deferred tax assets
United States net operating loss carryforwards	398,024			60,904
Canadian net operating loss carryforwards	17,892			4,899
Alternative minimum tax carryforwards	40,796			38,715
Equity compensation	32,910			22,255
Other	11,048			8,920
Total deferred tax assets	500,670			135,693
Canadian valuation allowance	(17,892		)	(4,389		)
Total deferred tax assets, net of valuation allowance	482,778			131,304
Deferred tax liabilities
Property and equipment	(2,528,125		)	(2,254,343		)
Non-cash gains on derivatives	(38,452		)	(30,269		)
Gain on derivative liquidation	(4,158		)	(132,356		)
Other	(2,271		)	(1,132		)
Total deferred tax liabilities	(2,573,006		)	(2,418,100		)
Deferred income tax liabilities, net	$	(2,090,228	)	$	(2,286,796	)