Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Taxes [Abstract]

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

		For the year ended December 31,
	2023		2022		2021
	(in thousands)
Domestic	$	377,150	$	438,116	$	265,636
Foreign		171,353		87,727		(13,072)
Total	$	548,503	$	525,843	$	252,564

Components of Provision for Income Taxes

		For the year ended December 31,
	2023		2022		2021
	(in thousands)
Current provision:
State	$	8,099	$	6,115	$	543
Foreign		38,360		27,028		22,907
Total current		46,459		33,143		23,450
Deferred provision (benefit) for taxes:
Federal		8,280		(6,856)		20
State		1,431		(956)		(2,730)
Foreign		52,003		32,780		(9,516)
Change in valuation allowance		(57,085)		7,933		3,716
Total deferred		4,629		32,901		(8,510)
Total provision for income taxes	$	51,088	$	66,044	$	14,940

Income Tax Rate Reconciliation

	For the year ended December 31,
	2023		2022		2021
	(in thousands)
Statutory federal expense	$	115,186	$	110,427	$	53,039
Rate and permanent differences on non-U.S. earnings (1)		31,722		20,996		9,586
State and local tax expense		9,288		5,585		(1,539)
REIT adjustment		(75,513)		(86,670)		(56,457)
Permanent differences		11,872		(3,257)		6,105
Uncertain tax positions		14,202		—		—
Property, equipment, and intangible basis differences		—		8,471		—
Other		1,416		2,559		490
Valuation allowance		(57,085)		7,933		3,716
Provision for income taxes	$	51,088	$	66,044	$	14,940

(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,
	2023			2022
	(in thousands)
Deferred tax assets:
Net operating losses	$	42,064	$	46,521
Property, equipment, and intangible basis differences		25,225		13,506
Accrued liabilities		14,945		12,504
Non-cash compensation		29,576		30,501
Operating lease liability		268,107		265,710
Deferred revenue		6,348		5,656
Allowance for doubtful accounts		2,735		1,430
Currency translation		14,467		78,287
Other		14,075		10,518
Valuation allowance		(16,115)		(73,546)
Total deferred tax assets, net (1)		401,427		391,087
Deferred tax liabilities:
Property, equipment, and intangible basis differences		(169,744)		(152,207)
Right of use asset		(254,573)		(254,368)
Straight-line rents		(19,029)		(18,659)
Deferred foreign withholding taxes		(8,322)		(9,088)
Other		(1,495)		(1,531)
Total deferred tax liabilities, net (1)	$	(51,736)	$	(44,766)

(1)Of these amounts, $67,473 and $119,209 are included in Other assets and Other long-term liabilities, respectively, on the accompanying Consolidated Balance Sheets as of December 31, 2023. As of December 31, 2022, $16,173 and $60,939 are included in Other assets and Other long-term liabilities, respectively, on the accompanying Consolidated Balance Sheet.

Reconciliation of Unrecognized Tax Benefits

	For the year ended December 31,
	2023		2022		2021
	(in millions)
Balance, January 1,	$	—	$	—	$	—
Additions based on tax positions related to the current year		5,023		—		—
Additions and reductions for tax positions of prior years		9,179		—		—
Balance, December 31,	$	14,202	$	—	$	—