INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of income tax expense benefit

(Loss) income from continuing operations before income taxes

Years Ended December 31,
2019			2018		2017
(In thousands)
$	(28,137	)	$	186,250	$	(15,136	)

The (benefit) expense for income taxes consists of:

	Years Ended December 31,
	2019			2018			2017
	(In thousands)
Current:
Federal	$	—		$	42,805		$	(5,603	)
State		—			1,210			10
Deferred and Other:
Federal		(2,000	)		(40,805	)		5,603
State		—			—			170
Total tax (benefit) expense	$	(2,000	)	$	3,210		$	180

Schedule of reconciliation between effective tax rate on income from continuing operations and the statutory rate

The reconciliation between the Company’s effective tax rate on income from continuing operations and the statutory rate is as follows:

	Years Ended December 31,
	2019			2018			2017
	(In thousands)
Income tax (benefit) expense at federal statutory rate	$	(5,909	)	$	39,113		$	(5,603	)
State and local income taxes net of federal tax benefit					1,210			10
Permanent differences		(2,406	)		(143	)		—
Timing differences
Installment note on land sale		—			(2,876	)		(1,917	)
Allowance for losses on note		—			(383	)		(256	)
Deferred gains		(588	)		(9,417	)		(7,723	)
Basis difference on fixed assets		—			23,675			10,082
Other basis/timing differences		3,173			(7,164	)		(16	)
Generation (use) of net operating loss carryforwards		5,730			(42,805	)		5,603
Calculated income tax expense	$	—		$	1,210		$	180
Effective tax rate		0.0	%		0.6	%		N/A

Schedule of components of net deferred tax assets or liabilities

Components of the Net Deferred Tax Asset or Liability

	Years Ended December 31,
	2019			2018
	(In thousands)
Deferred Tax Assets:
Cumulative foreign currency translation loss	$	1,522		$	—
Deferred gain		1,988			—
Net operating loss carryforward		9,633			3,904
Total Deferred Tax Assets		13,143			3,904
Less: valuation allowance		(6,480	)		—
Total net deferred tax assets	$	6,663		$	3,904
Deferred Tax Liabilities:
Deferred gain	$	—		$	2,603
Basis differences for fixed assets		6,663			3,301
Total Deferred Tax Liability	$	6,663		$	5,904
Net deferred tax asset (liability)	$	—		$	(2,000	)
Current net deferred tax asset		6,663			3,904
Long-term net deferred tax liability		6,663			5,904
Net deferred tax liability	$	—		$	(2,000	)