Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense (benefit) consisted of the following (in thousands):



	Year Ended December 31,
	2016			2015			2014
Current:
U.S.—Federal	$	—		$	—		$	—
U.S.—State	23			—			(264		)
Foreign	—			(299		)	(80		)
Deferred:
U.S.—Federal	(7,046		)	(14,685		)	(14		)
U.S.—State	(889		)	(1,804		)	(177		)
Foreign	—			—			80
Total	$	(7,912	)	$	(16,788	)	$	(455	)

Schedule of Effective Income Tax Rate Reconciliation

Income tax expense was different from the amounts computed by applying U.S. Federal income tax rate of 35% to pretax income as a result of the following:



	Year Ended December 31,
	2016		2015		2014
Federal statutory rate	35.0	%	35.0	%	35.0	%
State income taxes, net of federal benefit	1.6	%	3.2	%	1.3	%
Expiration of capital loss carryover	(17.6	)%	(25.5	)%	—	%
Change in valuation allowance	9.2	%	25.3	%	(38.8	)%
Permanent items	(5.7	)%	(7.6	)%	3.6	%
Provision to return adjustments	(7.8	)%	(0.8	)%	(0.1	)%
Actual income tax rate	14.7	%	29.6	%	1.0	%

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets (liabilities) are comprised of the following (in thousands):



	December 31,
	2016			2015
Deferred tax assets:
Net operating loss	$	611,631		$	522,541
State deferred tax assets	159			9,160
Capital loss carryforwards	—			12,193
Property and equipment	23,203			27,372
Investment in Laramie Energy	—			42,986
Contingent consideration	—			9,653
Other	10,709			9,234
Total deferred tax assets	645,702			633,139
Valuation allowance	(613,866		)	(621,220		)
Net deferred tax assets	31,836			11,919
Deferred tax liabilities:
Investment in Laramie Energy	20,600			—
Convertible notes	6,866			—
Intangible assets	2,671			9,834
Other	2,331			2,023
State liabilities	6			62
Total deferred tax liabilities	32,474			11,919
Total deferred tax liability, net	$	(638	)	$	—