Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Deferred Tax Assets and Liabilities

The significant components of the deferred income tax assets and liabilities as of December 31, 2021 and 2020 are as follows (in thousands):


	December 31
	2021		2020
Deferred tax assets:
Net operating loss carryforward and federal credits	$	93,294	$	71,762
Operating lease obligation	13,266		14,472
Warrants	32,075		33,940
Post-retirement employee benefits	—		7,140
Employee benefits other than post-retirement	6,919		8,545
Inventory reserve	2,714		2,288
Deferred revenue	10,918		12,608
Other	8,789		9,366
Deferred tax assets	167,975		160,121
Deferred tax liabilities:
Accelerated depreciation	(327,321)		(257,765)
Post-retirement employee benefits	(1,330)		—
Partnership items	(6,014)		(6,044)
Operating lease assets	(13,029)		(14,264)
Goodwill and intangible assets	(14,553)		(9,877)
State taxes	(19,158)		(11,143)
Valuation allowance against deferred tax assets	(3,861)		(2,293)
Deferred tax liabilities	(385,266)		(301,386)
Net deferred tax (liability)	$	(217,291)	$	(141,265)

Schedule of Components of Income Tax Expense (Benefit)

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


	Years Ended December 31
	2021		2020		2019
Current taxes:
Federal	$	—	$	(1,332)	$	1,332
Foreign	—		—		1
State	2,402		1,235		138
Deferred taxes:
Federal	65,027		19,701		14,155
Foreign	—		—		—
State	4,795		(1,209)		(3,677)
Change in federal statutory tax rates	—		—		—
Total deferred tax expense	69,822		18,492		10,478
Total income tax expense (benefit) from continuing operations	$	72,224	$	16,314	$	11,589
Income tax expense (benefit) from discontinued operations	$	722	$	2,081	$	360

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
	2021		2020		2019
Statutory federal tax rate	21.0	%	21.0	%	21.0	%
Foreign income taxes	—	%	—	%	—	%
State income taxes, net of federal tax benefit	1.8	%	5.1	%	1.4	%

Tax effect of non-deductible warrant expense	—	%	16.6	%	(2.9)	%

Tax effect of other non-deductible expenses	0.5	%	3.2	%	1.7	%

Change to state statutory tax rates	—	%	(5.4)	%	(5.4)	%
Other	0.7	%	(1.1)	%	0.4	%
Effective income tax rate	24.0	%	39.4	%	16.2	%

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
	2021		2020		2019
Statutory federal tax rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal tax benefit	1.8	%	1.8	%	1.8	%
Change in federal statutory tax rates	—	%	—	%	—	%
Effective income tax rate	22.8	%	22.8	%	22.8	%