Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Summary of Income Tax Expense From Continuing Operations

The net loss for the years ended December 31, 2021 and 2020 consisted of the following:

(in thousands)	2021			2020
Jurisdictional earnings:
U.S. losses	$	(113,837	)	$	(72,128	)
Foreign income (losses)		(2,886	)		1,715
Total losses		(116,723	)		(70,413	)
Current:
U.S. Federal		—			—
U.S. State and local		(2	)		63
Foreign		79			525
Total current tax expense		77			588
Deferred:
U.S. Federal		—			—
U.S. State and local		—			—
Foreign		(63	)		63
Total deferred tax (benefit) expense		(63	)		63
Total tax expense	$	14		$	651

Summary of Deferred Tax Assets and Liabilities

The tax effect of temporary differences that give rise to significant portion of the deferred tax assets and deferred tax liabilities consist of the following as of December 31, 2021 and December 31, 2020:

(in thousands)	2021			2020
Deferred tax assets:
Pass-through income (loss)	$	315,218		$	—
Net operating loss		12,762			—
Stock compensation expense		4,761			—
Interest expense carryforward		3,215			—
Other		323			244
Total gross deferred tax		336,279			244
Valuation allowance		(336,279	)		(244	)
Net deferred tax assets		—			—
Deferred tax liabilities
Unremitted earnings		—			(63	)
Deferred tax liability, net	$	—		$	(63	)

Summary of Effective Income Tax Rate Reconciliation

A reconciliation of expected income tax expense at the statutory federal income tax rate of 21% for the years ended December 31, 2021 and 2020 to the Company’s effective income tax rate follows:

	2021			2020
	Percent			Percent
Income tax benefit computed at statutory rate		21.00	%		21.00	%
Permanent items		13.57	%		—	%
Net income attributable to noncontrolling interest		(16.09	)%		(21.50	)%
State benefit, net of federal benefit		2.10	%		—	%
Valuation allowance		(21.57	)%		(0.33	)%
Foreign rate differential		0.93	%		—	%
Other, net		0.05	%		(0.06	)%
Total tax expense		(0.01	)%		(0.89	)%