Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Summary of income tax expense

Income tax expense is summarized as follows:

	Year Ended December 31,
(In thousands)	2014			2013		2012
Current
Federal	$	44,887		$	56,544	$	24,618
State	(4,387		)	10,841		563
	40,500			67,385		25,181
Deferred
Federal	(32,375		)	111,147		57,704
State	(80,192		)	27,233		23,225
	(112,567		)	138,380		80,929
Income tax (benefit) expense	$	(72,067	)	$	205,765	$	106,110

Schedule of reconciliation of actual provision for income taxes and provision for income taxes computed by applying the statutory federal income tax rate

Income tax expense was different than the amounts computed by applying the statutory federal income tax rate as follows:

	Year Ended December 31,
(In thousands)	2014			2013			2012
Statutory federal income tax rate	35		%	35		%	35		%
Computed "expected" federal income tax	$	11,341		$	169,938		$	83,244
Deferred tax adjustment related to change in overall state tax rate	(86,956		)	15,220			13,596
State income tax, net of federal income tax benefit	903			17,513			9,609
Valuation allowance	3,977			—			262
Uncertain tax positions	(1,974		)	2,400			—
Other, net	642			694			(601		)
Income tax expense	$	(72,067	)	$	205,765		$	106,110

Schedule of deferred tax liabilities and deferred tax assets

deferred tax liabilities and deferred tax assets were as follows:

	December 31,
(In thousands)	2014		2013
Deferred Tax Assets
Net operating loss carryforward	$	141,961	$	78,182
Alternative minimum tax carryforward	227,719		182,212
Foreign tax credit	4,525		4,822
Derivative instruments	—		3,946
Incentive compensation	21,961		36,450
Deferred compensation	9,531		11,988
Post-retirement benefits	13,689		13,965
Other	747		3,619
Total	420,133		335,184
Deferred Tax Liabilities
Properties and equipment	1,248,532		1,321,241
Derivative instruments	50,750		—
Total	1,299,282		1,321,241
Net deferred tax liabilities	$	879,149	$	986,057

Schedule of reconciliation of the beginning and ending amounts of unrecognized tax benefits

A reconciliation of unrecognized tax benefits is as follows:

	Year Ended December 31,
(In thousands)	2014			2013		2012
Balance at beginning of year	$	3,700		$	—	$	—
Additions based on tax provisions related to the current year	—			3,700		—
Additions for tax positions of prior years	—			—		—
Reductions for tax positions of prior years	(3,037		)	—		—
Settlements	—			—		—
Balance at end of year	$	663		$	3,700	$	—