INCOME TAXES (Tables)

9 Months Ended

Sep. 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 September 30,
	2016					2015
Income tax expense at federal statutory rate		$14,491		35.0	%		$6,524		35.0	%
U.S. and foreign REIT income & U.S. TRS taxable losses	(11,487		)	(27.7	)	(9,259		)	(49.6	)
Foreign TRS operations	(312		)	(0.8	)	(1,466		)	(7.9	)
U.S. net deferred tax asset valuation allowance	(1,741		)	(4.2	)	2,742			14.7
Other	(70		)	(0.2	)	90			0.5
Income tax expense (benefit) before discrete items		$881		2.1	%		($1,369	)	(7.3	)%
CBPC(a) valuation allowance	—			—		997			5.3
Return-to-accrual adjustments	(171		)	(0.4	)	(169		)	(0.9	)
Other	69			0.2		—			—
Income tax expense (benefit) as reported		$779		1.9	%		($541	)	(2.9	)%

	Nine Months Ended September 30,
	2016					2015
Income tax expense at federal statutory rate		$59,337		35.0	%		$11,617		35.0	%
U.S. and foreign REIT income & U.S. TRS taxable losses	(55,801		)	(32.9	)	(16,260		)	(48.9	)
Foreign TRS operations	(626		)	(0.4	)	(3,029		)	(9.1	)
U.S. net deferred tax asset valuation allowance	2,654			1.6		5,360			16.1
Other	137			0.1		175			0.5
Income tax expense (benefit) before discrete items		$5,701		3.4	%		($2,137	)	(6.4	)%
CBPC(a) valuation allowance	—			—		997			3.0
Tax benefit recognized related to changes in the New Zealand JV deferred tax inventory	(1,833		)	(1.1	)	—			—
Purchase accounting deferred tax benefit	(1,423		)	(0.9	)	—			—
Return-to-accrual adjustments	(171		)	(0.1	)	(169		)	(0.5	)
Income tax expense (benefit) as reported		$2,274		1.3	%		($1,309	)	(3.9	)%

(a)    Cellulosic biofuels producer credit.