INCOME TAXES (Tables)

6 Months Ended

Jun. 30, 2016

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

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

	Three Months Ended June 30,
	2016					2015
Income tax expense (benefit) at federal statutory rate		$39,849		35.0	%		($1,105	)	35.0	%
U.S. and foreign REIT income & U.S. TRS taxable losses	(39,954		)	(35.3	)	1,077			(34.1	)
Foreign TRS operations	(197		)	—		101			(3.2	)
U.S. net deferred tax asset valuation allowance	3,942			3.5		(216		)	6.9
Other	128			—		(153		)	4.8
Income tax expense (benefit) before discrete items		$3,768		3.2	%		($296	)	9.4	%
Purchase accounting deferred tax benefit	(1,492		)	(1.2	)	—			—
Income tax expense (benefit) as reported		$2,276		2.0	%		($296	)	9.4	%

	Six Months Ended June 30,
	2016					2015
Income tax expense at federal statutory rate		$44,846		35.0	%		$5,093		35.0	%
U.S. and foreign REIT income & U.S. TRS taxable losses	(44,314		)	(34.4	)	(6,894		)	(47.4	)
Foreign TRS operations	(314		)	(0.3	)	(645		)	(4.4	)
U.S. net deferred tax asset valuation allowance	4,395			3.4		1,386			9.5
Other	207			—		292			2.0
Income tax expense (benefit) before discrete items		$4,820		3.7	%		($768	)	(5.3	)%
Tax benefit recognized related to changes in the New Zealand JV deferred tax inventory	(1,833		)	(1.5	)	—			—
Purchase accounting deferred tax benefit	(1,492		)	(1.1	)	—			—
Income tax expense (benefit) as reported		$1,495		1.1	%		($768	)	(5.3	)%