Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Our income tax provision (benefit) is as follows:



	Year Ended December 31,
In thousands	2013			2012		2011
Current income tax expense (benefit)
Federal	$	393		$	57,720	$	(12,552	)
State	9,864			18,034		20,801
Total current income tax expense	10,257			75,754		8,249

Deferred income tax expense (benefit)
Federal	222,559			239,862		329,715
State	(33		)	15,881		12,748
Total deferred income tax expense	222,526			255,743		342,463
Total income tax expense	$	232,783		$	331,497	$	350,712

Deferred Tax Assets And Liabilities

Significant components of our deferred tax assets and liabilities as of December 31, 2013 and 2012 are as follows:



	December 31,
In thousands	2013			2012
Deferred tax assets
Loss carryforwards – federal	$	20,247		$	—
Loss carryforwards – state	41,379			35,007
Tax credit carryover	34,837			34,837
Derivative contracts	21,341			7,252
Enhanced oil recovery credit carryforwards	14,974			17,346
Stock-based compensation	34,635			28,387
Other	37,679			37,226
Total deferred tax assets	205,092			160,055

Deferred tax liabilities
Property and equipment	(2,541,426		)	(2,277,388		)
Other	(10,206		)	(6,963		)
Total deferred tax liabilities	(2,551,632		)	(2,284,351		)
Total net deferred tax liability	$	(2,346,540	)	$	(2,124,296	)

Income Tax Provision (Benefit) Continuing Operations Income Tax Reconciliation

Our reconciliation of income tax expense computed by applying the U.S. federal statutory rate and the reported effective tax rate on income from continuing operations is as follows:



	Year Ended December 31,
In thousands	2013			2012			2011
Income tax provision calculated using the federal statutory income tax rate	$	224,833		$	299,900		$	323,416
State income taxes, net of federal income tax benefit	13,518			30,955			29,555
Effect of statutory rate change	(4,178		)	(429		)	(578		)
Other	(1,390		)	1,071			(1,681		)
Total income tax expense	$	232,783		$	331,497		$	350,712