Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Deferred Tax Assets and Liabilities

The significant components of the deferred income tax assets and liabilities as of December 31, 2018 and 2017 are as follows (in thousands):



	December 31
	2018			2017
Deferred tax assets:
Net operating loss carryforward and federal credits	$	55,760		$	17,021
Warrants	7,314			3,974
Post-retirement employee benefits	13,777			8,716
Employee benefits other than post-retirement	8,751			9,229
Inventory reserve	2,374			1,739
Deferred revenue	4,389			3,016
Other	4,713			4,317
Deferred tax assets	97,078			48,012
Deferred tax liabilities:
Accelerated depreciation	(189,719		)	(129,201		)
Partnership items	(5,850		)	(5,858		)
State taxes	(14,474		)	(12,119		)
Valuation allowance against deferred tax assets	(278		)	(278		)
Deferred tax liabilities	(210,321		)	(147,456		)
Net deferred tax (liability)	$	(113,243	)	$	(99,444	)

Schedule of Components of Income Tax Expense (Benefit)

The following summarizes the Company’s income tax provisions (benefits) (in thousands):



	Years Ended December 31
	2018			2017			2016
Current taxes:
Federal	$	—		$	9		$	820
Foreign	—			48			—
State	1,043			590			151
Deferred taxes:
Federal	15,642			27,625			11,338
Foreign	(63		)	—			—
State	2,973			3,396			1,085
Change in federal statutory tax rates	—			(59,944		)	—
Total deferred tax expense	18,552			(28,923		)	12,423
Total income tax expense (benefit) from continuing operations	$	19,595		$	(28,276	)	$	13,394
Income tax expense (benefit) from discontinued operations	$	434		$	(1,848	)	$	1,384

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation of income tax from continuing operations computed at the U.S. statutory federal income tax rates to effective income tax rates is as follows:



	Years Ended December 31
	2018		2017		2016
Statutory federal tax rate	21.0	%	35.0	%	35.0	%
Foreign income taxes	(0.1	)%	(0.5	)%	—	%
State income taxes, net of federal tax benefit	(0.2	)%	(39.7	)%	2.3	%
Tax effect of non-deductible warrant expense	(1.5	)%	(485.0	)%	4.0	%
Tax effect of stock compensation	(0.8	)%	21.7	%	(3.4	)%
Tax effect of other non-deductible expenses	0.8	%	(19.6	)%	1.6	%
Change in federal statutory tax rates	—	%	917.2	%	—	%
Change to state statutory tax rates	3.8	%	—	%	—	%
Other	(0.6	)%	3.5	%	(0.6	)%
Effective income tax rate	22.4	%	432.6	%	38.9	%

Schedule of Effective Income Tax Rate Reconciliation, Discontinued Operations

The reconciliation of income tax from discontinued operations computed at the U.S. statutory federal income tax rates to effective income tax rates is as follows:



	Years Ended December 31
	2018		2017		2016
Statutory federal tax rate	21.0	%	35.0	%	35.0	%
State income taxes, net of federal tax benefit	2.6	%	1.3	%	1.3	%
Change in federal statutory tax rates	—	%	—	%	—	%
Effective income tax rate	23.6	%	36.3	%	36.3	%