Income Taxes (Tables)

12 Months Ended

Mar. 31, 2013

	Year Ended			Year Ended
	March 31, 2013			March 31, 2012
	(thousands)
Current deferred tax assets
Charitable contributions	$	3		$	—
Accrued bonuses	170			—
Accrued severance	138			—
Accrued expenses	4			10
Total current deferred tax assets	$	315		$	10

Non-current deferred tax assets
Investment in AWP	$	—		$	1,085
Operating loss carry forward	20,493			3,321
Start-up costs	100			107
Stock compensation	7,247			3,505
Warrant expense	2,161			—
Mineral properties	52,625			—
Exploration	5,892			—
Total non-current deferred tax assets	$	88,518		$	8,018

Valuation allowances	$	(88,505	)	$	(7,956	)

Total deferred tax assets	$	328		$	72

Current deferred tax liabilities
Prepaid expenses	$	(226	)	$	(60	)
Total current deferred tax liabilities	$	(226	)	$	(60	)

Non-current deferred tax liabilities
Fixed assets	(102		)	(12		)
Total non-current deferred tax liabilities	$	(102	)	$	(12	)

Total deferred tax liability	(328		)	(72		)

Net deferred income tax assets (liabilities)	$	—		$	—

	Year Ended March 31, 2013		Year Ended March 31, 2012
	(thousands)		(thousands)
Current portion of income tax expense (benefit)
U.S. federal	$	—	$	—
U.S. state	—		—
Deferred portion of income tax expense (benefit)
U.S. federal	—		—
U.S. state	—		—
Total income tax expense (benefit)	$	—	$	—

	Year Ended			Year Ended
	March 31, 2013			March 31, 2012
	(thousands)			(thousands)
Tax benefit from continuing operations	$	(29,374	)	$	(2,214	)
State tax benefit from continuing operations	(1,008		)	(63		)
Non-deductible expenses	384			168
Derivative expense	665			—
Change in valuation allowance	80,549			1,765
Non-controlling interest	1,475			247
AWP step-up	(52,625		)	—
Other	(66		)	(97		)
Total income tax expense (benefit)	$	—		$	—

PROSPECT GLOBAL RESOURCES INC. S-1