INCOME TAXES (Tables)

6 Months Ended

Jun. 30, 2014

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

The tables below reconcile the U.S. statutory rate to the Company’s effective tax rate for each period presented:

	Three Months Ended June 30,
	2014					2013
Income tax expense at federal statutory rate	$	6,850		35.0	%	$	8,289		35.0	%
REIT income and taxable losses	(7,382		)	(37.7	)	(20,001		)	(84.4	)
Reverse loss on FMV of exchangeable notes	—			—		828			3.5
Foreign operations	(688		)	(3.5	)	458			1.9
Non-deductible real estate losses	558			2.8		—			—
Other	112			0.6		115			0.5
Income tax benefit before discrete items	(550		)	(2.8	)%	(10,311		)	(43.5	)%
CBPC valuation allowance	15,574			79.7		—			—
Spin-off related costs	797			4.1		—			—
Deferred tax inventory valuations	(3,293		)	(16.8	)	—			—
Gain related to consolidation of New Zealand joint venture	—			—		(5,636		)	(23.8	)
Other	987			4.9		—			—
Income tax expense (benefit) as reported for continuing operations	$	13,515		69.1	%	$	(15,947	)	(67.3	)%

	Six Months Ended June 30,
	2014					2013
Income tax expense at federal statutory rate	$	8,498		35.0	%	$	12,851		35.0	%
REIT income and taxable losses	(15,230		)	(62.7	)	(31,324		)	(85.3	)
Foreign operations	(854		)	(3.5	)	1,517			4.1
Non-deductible real estate losses	692			2.8		—			—
Reverse loss on FMV of exchangeable notes	—			—		1,284			3.5
Other	139			0.6		(151		)	(0.4	)
Income tax benefit before discrete items	(6,755		)	(27.8	)%	(15,823		)	(43.1	)%
CBPC valuation allowance	15,574			64.1		—			—
Spin-off related costs	797			3.3		—			—
Deferred tax inventory valuations	(3,293		)	(13.6	)	—			—
Gain related to consolidation of New Zealand joint venture	—			—		(5,636		)	(15.3	)
Other	(384		)	(1.5	)	(483		)	(1.4	)
Income tax expense (benefit) as reported for continuing operations	$	5,939		24.5	%	$	(21,942	)	(59.8	)%