Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Taxes [Abstract]

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

		For the year ended December 31,
	2020		2019		2018
	(in thousands)
Domestic	$	151,421	$	133,046	$	99,203
Foreign		(169,170)		53,843		(47,519)
Total	$	(17,749)	$	186,889	$	51,684

Components of Provision (Benefit) for Income Taxes

ts of the following components:

		For the year ended December 31,
	2020		2019		2018
	(in thousands)
Current provision:
State	$	753	$	5,520	$	5,764
Foreign		20,638		18,150		13,756
Total current		21,391		23,670		19,520
Deferred provision (benefit) for taxes:
Federal		(7,552)		(3,306)		(9,463)
State		(4,684)		1,952		(1,412)
Foreign		(59,956)		13,138		(16,673)
Change in valuation allowance		9,005		4,151		12,261
Total deferred		(63,187)		15,935		(15,287)
Total provision (benefit) for income taxes	$	(41,796)	$	39,605	$	4,233

Income Tax Rate Reconciliation

	For the year ended December 31,
	2020		2019		2018
	(in thousands)
Statutory federal expense	$	(3,727)	$	39,247	$	10,854
Rate and permanent differences on non-U.S. earnings (1)		(7,531)		15,937		3,620
State and local tax expense		(3,707)		7,578		4,824
REIT adjustment		(35,539)		(28,975)		(22,241)
Permanent differences		(736)		18		437
Tax Act impact on deferred taxes		—		—		(6,040)
Other		439		1,649		518
Valuation allowance		9,005		4,151		12,261
(Benefit) provision for income taxes	$	(41,796)	$	39,605	$	4,233

(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,
	2020			2019
	(in thousands)
Deferred tax assets:
Net operating losses	$	55,657	$	61,741
Property, equipment, and intangible basis differences		9,813		5,946
Accrued liabilities		6,561		9,994
Non-cash compensation		20,128		19,198
Operating lease liability		232,329		276,824
Deferred revenue		2,846		2,527
Allowance for doubtful accounts		3,017		4,190
Currency translation		99,344		47,468
Other		5,808		2,657
Valuation allowance		(63,239)		(54,610)
Total deferred tax assets, net (1)		372,264		375,935
Deferred tax liabilities:
Property, equipment, and intangible basis differences		(145,328)		(158,419)
Right of use asset		(223,366)		(269,586)
Straight-line rents		(20,809)		(25,535)
Deferred foreign withholding taxes		(9,796)		(7,706)
Deferred lease costs		—		(34)
Other		(1,532)		(783)
Total deferred tax liabilities, net (1)	$	(28,567)	$	(86,128)

(1)Of these amounts, $53,722 and $82,290 are included in Other assets and Other long-term liabilities, respectively on the accompanying Consolidated Balance Sheets as of December 31, 2020. As of December 31, 2019, $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 Sheet.