Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Summary of Components of (Loss) Income before Tax, Domestic and Foreign

(Loss) income from continuing operations before taxes consisted of the following:

	Years Ended December 31,
	2023		2022		2021
U.S.	$	(472,848)	$	(39,294)	$	(85,258)
International	66,346		79,174		77,843
Total	$	(406,502)	$	39,880	$	(7,415)

Summary of Components of Income Tax (Benefit) Provision

The (benefit) provision for income taxes from continuing operations consisted of the following:

	Years Ended December 31,
	2023			2022			2021
U.S. Federal:
Current	$	13,722		$	223		$	(7,419)
Deferred	(44,504)			(12,284)			(13,825)
	(30,782)			(12,061)			(21,244)
U.S. State and Local:
Current	5,641			(9,716)			5,401
Deferred	(12,189)			7,137			(5,827)
	(6,548)			(2,579)			(426)
International:
Current	10,577			8,745			10,979
Deferred	5,878			8,835			(231)
	16,455			17,580			10,748
Total current	29,940			(748)			8,961
Total deferred	(50,815)			3,688			(19,883)
Total (benefit) provision for income taxes	$	(20,875)		$	2,940		$	(10,922)
Effective tax rate	5.1		%	7.4		%	147.3		%

Summary of Reconciliation of Effective Income Tax Rate Reconciliation

A reconciliation of income taxes computed at the federal statutory rate and our provision for income taxes consist of the following:

	Years Ended December 31,
	2023		2022		2021
Federal statutory provision	$	(85,366)	$	8,375	$	(1,558)
State and local income taxes (1)	(5,173)		(1,612)		(336)
Impact of foreign operations taxed at rates other than the U.S. statutory rate (2)	2,646		3,349		(2,220)
Accrual/release of uncertain tax amounts related to foreign operations	(2,829)		(2,753)		(7,288)
U.S. tax impacts of foreign income in the U.S. (3)	1,099		1,089		4,441
CARES Act carryback benefit	—		—		(2,270)
Tax credits	(1,683)		(850)		(500)
Unrealized stock compensation benefits	574		572		(505)
Goodwill impairment	68,557		—		—
Borderfree tax basis differences	—		(5,610)		—
Other, net (4)	1,300		380		(686)
(Benefit) provision for income taxes	$	(20,875)	$	2,940	$	(10,922)

(1)    Includes a benefit of $1 million related to tax resolutions and a benefit of $1 million for tax return true-ups for the year ended December 31, 2022.

(2)    Includes a charge of $2 million for a deferred rate change and a charge of $1 million for the establishment of a valuation allowance for the year ended December 31, 2022 and a benefit of $5 million for a deferred rate change for the year ended December 31, 2021.

(3)    Includes a benefit of $1 million for the year ended December 31, 2022 associated with the sale of a business.

(4)     Includes a $1 million charge associated with nondeductible officer compensation for the year ended December 31, 2023 and a $3 million benefit from an affiliate reorganization and a charge of $3 million related to the sale of a business for the year ended December 31, 2021.

Summary of Components of Deferred Tax Assets and Liabilities

Deferred tax liabilities and assets consisted of the following:

	December 31,
	2023		2022
Deferred tax liabilities:
Depreciation	$	(16,585)	$	(51,717)
Deferred profit (for tax purposes) on sale to finance subsidiary	(43,057)		(26,765)
Lease revenue and related depreciation	(205,773)		(216,282)
Intangible assets	(60,420)		(65,916)
Operating lease liability	(76,910)		(73,403)
Basis adjustment in subsidiary	(51,548)		—
Other	(19,690)		(27,366)
Gross deferred tax liabilities	(473,983)		(461,449)
Deferred tax assets:
Postretirement medical benefits	23,472		24,892
Pension	15,042		9,640
Operating lease asset	83,696		78,765
Long-term incentives	11,814		12,946
Net operating and capital losses	182,482		130,640
Tax credit carry forwards	65,095		66,256
Section 163j carryforward	47,802		23,917
Tax uncertainties gross-up	4,904		4,982
Other	48,537		50,345
Gross deferred tax assets	482,844		402,383
Less: Valuation allowance	(159,342)		(157,450)
Net deferred tax assets	323,502		244,933
Total deferred taxes, net	$	(150,481)	$	(216,516)

Summary of Tax Uncertainties Roll Forward

A reconciliation of the amount of unrecognized tax benefits is as follows:

	2023		2022		2021
Balance at beginning of year	$	33,300	$	45,072	$	50,064
Increases from prior period positions	343		6		3,016
Decreases from prior period positions	(524)		(6,830)		(4,247)
Increases from current period positions	400		340		492
Decreases relating to settlements with tax authorities	(350)		(1,966)		(1,270)
Reductions from lapse of applicable statute of limitations	(2,937)		(3,322)		(2,983)
Balance at end of year	$	30,232	$	33,300	$	45,072