Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Geographic sources of income (loss) before taxes and equity in earnings of unconsolidated affiliate are as follows:

	For the Year Ended December 31,
	2018		2017		2016
	(In thousands)
United States	$	5,535	$	26,040	$	(10,880	)
Foreign	180,280		281,456		240,575
Income before taxes	$	185,815	$	307,496	$	229,695

Schedule of Components of Income Tax Expense (Benefit)

The components of the provision (benefit) for income taxes are as follows:

	For the Year Ended December 31,
	2018			2017			2016
	(In thousands)
Current:
Federal	$	22,003		$	—		$	—
State	39			11			22
Foreign	47,318			81,969			49,577
	69,360			81,980			49,599
Deferred:
Federal	5,468			(34,787		)	—
State	2,993			(4,072		)	—
Foreign	(21,571		)	(3,330		)	1,443
	(13,110		)	(42,189		)	1,443
Income tax expense	$	56,250		$	39,791		$	51,042

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation between the U.S. federal statutory income tax rate of 21% for 2018 and 35% for 2017 and 2016 and our income tax expense is as follows:

	For the Year Ended December 31,
	2018			2017			2016
	(In thousands)
U.S. federal statutory income tax rate	$	39,021		$	107,623		$	80,393
State taxes, net of federal benefit	1,677			2,624			850
Foreign income taxed at different rates	6,741			(50,243		)	(19,279		)
Foreign exchange (loss) gain	(3,797		)	29,756			(1,127		)
Change in valuation allowance	(12,662		)	(6,763		)	(7,903		)
Adjustments related to prior years	267			3,329			(2,648		)
U.S. tax reform (the Tax Act)	22,284			(41,554		)	—
Income tax credits generated	(18,106		)	(7,296		)	(40,301		)
Repatriation of foreign earnings and profits	387			719			25,604
Expiration of net operating losses and credits	19,462			166			15,092
Other	976			1,430			361
Income tax expense	$	56,250		$	39,791		$	51,042

Schedule of Deferred Tax Assets and Liabilities

The following is a summary of the components of our deferred tax assets and liabilities:

	December 31,
	2018			2017
	(In thousands)
Deferred tax assets:
Net operating loss carryforwards	$	13,207		$	53,130
Income tax credits	107,532			23,998
Property, plant and equipment	38,050			35,479
Deferred interest expense	5,415			—
Accrued liabilities	68,402			68,091
Receivable	31,729			32,719
Unrealized foreign exchange loss	1,410			1,924
Other	14,545			12,682
Total deferred tax assets	280,290			228,023
Valuation allowance	(118,560		)	(83,251		)
Total deferred tax assets net of valuation allowance	161,730			144,772
Deferred tax liabilities:
Property, plant and equipment	14,605			15,754
Deferred gain	11,651			939
Unrealized foreign exchange gain	1,695			8,383
Unbilled receivables	9,515			8,217
Other	5,805			4,566
Total deferred tax liabilities	43,271			37,859
Net deferred tax assets	$	118,459		$	106,913
Recognized as:
Other assets	118,697			111,353
Other non-current liabilities	(238		)	(4,440		)
Total	$	118,459		$	106,913

Summary of Valuation Allowance

Valuation allowance against deferred tax assets consist of the following:

	December 31,
	2018		2017
	(In thousands)
Valuation allowance:
U.S.	$	77,580	$	43,719
Foreign	40,980		39,532
Total valuation allowance	$	118,560	$	83,251

Summary of Operating Loss Carryforwards

Our net operating loss carryforwards (“NOLs”) are as follows:

	December 31,
	2018		2017		Expiration
	(In thousands)
U.S. Federal NOLs	$	25,272	$	220,445	2021-2024
U.S. State NOLs	108,011		121,095		2019-2036
Foreign NOLs	10,686		2,967		2019-2028

Summary of Tax Credit Carryforwards

Our tax credit carryforwards are as follows:

	December 31,
	2018		2017		Expiration
	(In thousands)
U.S. Foreign Tax Credits	$	84,056	$	12,637	2026-2027
U.S. Other Tax Credits	1,117		7,104		2026-2038
Foreign Tax Credits	22,359		4,257		2019-2028

Schedule of Unrecognized Tax Benefits Rollforward

A reconciliation of the beginning and ending gross amount of unrecognized tax benefits is as follows:

	For the Year Ended December 31,
	2018			2017			2016
	(In thousands)
Balance at January 1	$	27,211		$	23,149		$	23,332
Additions based on tax positions related to the current year	401			1,419			1,822
Additions for tax positions of prior years	636			2,661			689
Reductions for tax positions of prior years	(2,958		)	(1		)	(2,589		)
Reductions from lapse of statutes of limitations	(22		)	(17		)	(105		)
Balance at December 31	$	25,268		$	27,211		$	23,149