Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

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

	Year Ended December 31,
	2020		2019		2018
Current:
U.S.—Federal	$	—	$	(3,203)	$	(328)
U.S.—State	51		400		—
Foreign	125		—		—
Deferred:
U.S.—Federal	(20,509)		(58,461)		426
U.S.—State	(387)		(8,425)		235
Total	$	(20,720)	$	(69,689)	$	333

Schedule of Effective Income Tax Rate Reconciliation

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

	Year Ended December 31,
	2020		2019		2018
Federal statutory rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal benefit	0.1	%	(1.1)	%	0.6	%
Change in valuation allowance related to current activity	(14.0)	%	227.1	%	(21.3)	%
Permanent items	(2.3)	%	(4.3)	%	1.3	%
Provision to return adjustments and other	—	%	(1.4)	%	(0.8)	%
Actual income tax rate	4.8	%	241.3	%	0.8	%

Schedule of Deferred Tax Assets and Liabilities

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

	December 31,
	2020		2019
Deferred tax assets:
Net operating loss	$	427,245	$	373,717
Intangible assets	2,958		—
Environmental credit obligations	25,994		771
Other	22,551		18,789
Total deferred tax assets	478,748		393,277
Valuation allowance	(411,422)		(330,251)
Net deferred tax assets	67,326		63,026
Deferred tax liabilities:
Inventory	10,328		5,738
Property and equipment	58,122		64,281
Investment in Laramie Energy	4,522		11,609
Convertible notes	—		2,285
Intangible assets	—		750
Other	—		4,904
Total deferred tax liabilities	72,972		89,567
Total deferred tax liability, net	$	(5,646)	$	(26,541)