Valuation Allowances on Deferred Tax Assets

Our deferred tax assets related to net operating losses, which are available to reduce future taxable income, consist of the following (amounts in thousands):



	June 30, 2019		December 31, 2018
Domestic net operating loss carryforward	$	100,110	$	96,777
Foreign net operating loss carryforward	8,083		9,582

The majority of our domestic net operating losses will begin to expire in 2030, while losses generated after 2017 are carried forward indefinitely but are limited in usage to 80% of taxable income. The majority of our foreign net operating losses are carried forward indefinitely, but losses generated after 2016 are carried forward for 12 years and will begin to expire in 2029.

We provide a valuation allowance when it is more likely than not that some portion of the deferred tax assets will not be realized. As result, as of June 30, 2019 and December 31, 2018, we had valuation allowances of $67.2 million and $62.6 million that offset a portion of our domestic and foreign net deferred tax assets.

Since 2017, market conditions and operating results for our Colombian operations have improved, and if they continue to improve, then we may determine that there is sufficient evidence that future taxable income will be generated to utilize our foreign deferred tax assets which would result in the reversal of the valuation allowance relating to our foreign deferred tax assets.