Income and Partnership Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Significant components of income before taxes for the years ended December 31, 2018, 2017 and 2016 were as follows:

(In thousands)	2018			2017		2016
Domestic	$	185,749		$	171,382	$	223,626
Foreign	(24,353		)	45,206		25,480
Total income before taxes	$	161,396		$	216,588	$	249,106

Schedule of Components of Income Tax Expense (Benefit)

The provision (benefit) for income taxes was comprised of the following for the years ended December 31, 2018, 2017 and 2016:

(In thousands)	2018			2017			2016
Income taxes:
Current federal	$	2,682		$	18,640		$	40,440
Current state and local	4,901			4,631			5,729
Current foreign	4,301			2,501			3,188
Total current	11,884			25,772			49,357
Deferred federal, state and local	15,525			(41,133		)	5,766
Deferred foreign	(4,266		)	5,363			4,896
Total deferred	11,259			(35,770		)	10,662
Total provision (benefit) for income taxes	$	23,143		$	(9,998	)	$	60,019

Schedule of Effective Income Tax Rate Reconciliation

The sources and tax effects of the differences were as follows:

(In thousands)	2018			2017			2016
Income tax provision based on the U.S. federal statutory tax rate	$	33,893		$	75,806		$	87,187
Partnership income not includible in corporate income	(16,403		)	(23,644		)	(38,702		)
State and local taxes, net of federal income tax benefit	5,278			4,878			6,323
Valuation allowance	2,321			(119		)	(1,473		)
Tax credits	(1,300		)	(1,063		)	(1,066		)
Change in U.S. tax law	(8,730		)	(54,171		)	7,366
Foreign currency translation (gains) losses	7,949			(10,756		)	—
Nondeductible expenses and other	135			(929		)	384
Total provision (benefit) for income taxes	$	23,143		$	(9,998	)	$	60,019

Schedule of Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and liabilities as of December 31, 2018 and December 31, 2017 were as follows:

(In thousands)	2018			2017
Deferred tax assets:
Compensation	$	5,899		$	9,022
Accrued expenses	3,932			4,647
Foreign tax credits	8,758			8,654
Tax attribute carryforwards	2,321			2,016
Derivatives	1,478			938
Foreign currency	8,965			5,443
Deferred revenue	2,521			2,653
Deferred tax assets	33,874			33,373
Valuation allowance	(6,410		)	(4,088		)
Net deferred tax assets	27,464			29,285
Deferred tax liabilities:
Property	(94,847		)	(91,730		)
Intangibles	(14,334		)	(12,353		)
Deferred tax liabilities	(109,181		)	(104,083		)
Net deferred tax liability	$	(81,717	)	$	(74,798	)