Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income (Loss) before Provision for Income Taxes from Continuing Operations by Geographic Area



		For the year ended December 31,
	2019		2018		2017

	(in thousands)
Domestic	$	133,046	$	99,203	$	73,405
Foreign		53,843		(47,519)		43,486
Total	$	186,889	$	51,684	$	116,891

Components of Provision for Income Taxes



		For the year ended December 31,
	2019		2018		2017

	(in thousands)
Current provision:
State	$	5,520	$	5,764	$	5,513
Foreign		18,150		13,756		11,681
Total current		23,670		19,520		17,194

Deferred provision (benefit) for taxes:
Federal		(3,306)		(9,463)		18,736
State		1,952		(1,412)		(241)
Foreign		13,138		(16,673)		9,155
Change in valuation allowance		4,151		12,261		(31,607)
Total deferred		15,935		(15,287)		(3,957)
Total provision for income taxes	$	39,605	$	4,233	$	13,237

Income Tax Rate Reconciliation



	For the year ended December 31,
	2019		2018		2017

	(in thousands)
Statutory federal expense	$	39,247	$	10,854	$	40,912
Rate and permanent differences on non-U.S. earnings ⁽¹⁾		15,937		3,620		3,690
State and local tax expense		7,578		4,824		5,415
REIT adjustment		(28,975)		(22,241)		(34,346)
Permanent differences		18		437		(1,365)
Tax Act impact on deferred taxes		—		(6,040)		31,547
Other		1,649		518		(1,009)
Valuation allowance		4,151		12,261		(31,607)
Provision for income taxes	$	39,605	$	4,233	$	13,237

(1)This item includes the effect of foreign exchange rate changes which were previously shown on a separate line.

Components of Net Deferred Income Tax Asset and Liability



	As of December 31,
	2019			2018

	(in thousands)
Deferred tax assets:
Net operating losses	$	61,741	$	63,622
Property, equipment, and intangible basis differences		5,946		4,793
Accrued liabilities		9,994		9,659
Non-cash compensation		19,198		16,641
Operating lease liability		276,824		—
Deferred revenue		2,527		2,005
Allowance for doubtful accounts		4,190		5,691
Currency translation		47,468		56,604
Other		2,657		2,480
Valuation allowance		(54,610)		(50,628)
Total deferred tax assets, net ⁽¹⁾		375,935		110,867

Deferred tax liabilities:
Property, equipment, and intangible basis differences		(158,419)		(114,652)
Right of use asset		(269,586)		—
Straight-line rents		(25,535)		(20,469)
Deferred foreign withholding taxes		(7,706)		(6,225)
Deferred lease costs		(34)		(2,192)
Other		(783)		(123)
Total deferred tax liabilities, net ⁽¹⁾	$	(86,128)	$	(32,794)

(1)Of these amounts, $4,342, $1,650, and $88,820 are included in Other assets, Other current liabilities, and Other long-term liabilities, respectively on the accompanying Consolidated Balance Sheets as of December 31, 2019. As of December 31, 2018, $18,330 and $51,124 are included in Other assets and Other long-term liabilities on the accompanying Consolidated Balance Sheet.