Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

(Provision) Benefit for Income Taxes from Continuing Operations

The income tax (provision) benefit for continuing operations consists of the following (amounts in thousands):

	2017			2016			2015
CURRENT:
Federal	$	(1,107	)	$	(1,788	)	$	(763	)
State		(2,375	)		(1,291	)		(1,229	)
Total current provision		(3,482	)		(3,079	)		(1,992	)
DEFERRED:
Federal		32,308			321			8,866
State		18,299			(642	)		(248	)
Effect of federal tax law change		2,030			—			5,229
Total deferred (provision) benefit		52,637			(321	)		13,847
Total (provision) benefit for income taxes	$	49,155		$	(3,400	)	$	11,855

Summary of Taxability of Cash Distributions Paid on Common Shares

The estimated taxability of cash distributions to common shareholders is as follows (per common share):

	2017		2016		2015
Ordinary income	$	2.97	$	2.98	$	2.50
Capital gains		0.03		0.17		0.23
Return of capital		0.15		—		—
	$	3.15	$	3.15	$	2.73

Differences Between the Income Tax (Provision) Benefit Calculated at the Statutory U.S. Federal Income Tax Rate of 35% and the Actual Income Tax Benefit Recorded for Continuing Operations

The differences between the income tax provision calculated at the statutory U.S. federal income tax rate of 35% and the actual income tax (provision) benefit recorded for continuing operations are as follows (amounts in thousands):

	2017			2016			2015
Statutory federal income tax provision	$	(44,431	)	$	(56,914	)	$	(34,774	)
Adjustment for nontaxable income of the REIT		38,272			48,680			34,904
State taxes (net of federal tax benefit)		(1,317	)		(1,705	)		(740	)
Permanent share-based compensation adjustment		1,446			1,571			—
Other permanent items		(251	)		(200	)		(165	)
Federal valuation allowance reversal		36,156			5,519			8,271
State valuation allowance reversal (net of federal tax benefit)		17,241			(228	)		(737	)
Effect of federal tax law change		2,030			—			5,229
Other		9			(123	)		(133	)
	$	49,155		$	(3,400	)	$	11,855

Components of Company's Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities at December 31 are as follows (amounts in thousands):

	2017			2016
DEFERRED TAX ASSETS:
Accounting reserves and accruals	$	14,830		$	20,979
Defined benefit plan		4,148			7,665
Deferred management rights proceeds		44,651			69,317
Federal and State net operating loss carryforwards		44,789			51,615
Tax credits and other carryforwards		640			819
Investment in joint ventures		317			584
Other assets		4,353			6,171
Total deferred tax assets		113,728			157,150
Valuation allowance		(14,616	)		(88,653	)
Total deferred tax assets, net of valuation allowance		99,112			68,497
DEFERRED TAX LIABILITIES:
Property and equipment, net		47,416			67,168
Goodwill and other intangibles		705			1,201
Other liabilities		874			1,597
Total deferred tax liabilities		48,995			69,966
Net deferred tax assets (liabilities)	$	50,117		$	(1,469	)