Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Taxes

Components of the Company's deferred tax assets and liabilities

Year ended December 31,	2015			2014
	(in thousands)
Deferred tax assets:
Stock-based compensation expense	$	36,243		$	44,458
Accrued expenses		59,196			58,483
Intangibles		11,590			38,959
Financing obligation to GLPI		1,374,268			1,394,575
Unrecognized tax benefits		9,858			10,837
Net operating losses		81,109			11,895
Accumulated other comprehensive loss		—			590
Gross deferred tax assets		1,572,264			1,559,797
Less valuation allowance		(844,258	)		(744,449	)
Net deferred tax assets		728,006			815,348
Deferred tax liabilities:
Property, plant and equipment, non-leased		(80,930	)		(61,803	)
Property, plant and equipment, leased		(750,407	)		(787,580	)
Investments in unconsolidated affiliates		(3,024	)		(4,255	)
Accumulated other comprehensive gain		(1,566	)		—
Net deferred tax liabilities		(835,927	)		(853,638	)
Noncurrent deferred tax liabilities, net	$	(107,921	)	$	(38,290	)

Schedule of the provision for income taxes charged to operations

Year ended December 31,	2015			2014		2013
	(in thousands)
Current tax (benefit) expense
Federal	$	(5,158	)	$	14,275	$	96,273
State		133			5,821		2,835
Foreign		3,713			7,515		4,708
Total current		(1,312	)		27,611		103,816
Deferred tax expense (benefit)
Federal		51,817			2,357		(137,803	)
State		5,419			551		407
Total deferred		57,236			2,908		(137,396	)
Total income tax provision (benefit)	$	55,924		$	30,519	$	(33,580	)

Reconciliation of the statutory federal income tax rate to the actual effective income tax rate

Year ended December 31,	2015			2014			2013
Percent of pretax income
Federal taxes		35.0	%		35.0	%		35.0	%
State and local income taxes		6.1	%		1.6	%		1.5	%
Permanent differences		5.8	%		(20.9	)%		(16.8	)%
Foreign		5.2	%		(2.2	)%		(0.6	)%
Valuation allowance		55.3	%		(31.1	)%		(14.0	)%
Other miscellaneous items		(8.6	)%		(2.3	)%		0.3	%
		98.8	%		(19.9	)%		5.4	%

Year ended December 31,	2015			2014			2013
	(in thousands)
Amount of pretax income
Federal taxes	$	19,814		$	(53,656	)	$	(219,232	)
State and local income taxes		3,435			(2,470	)		(9,163	)
Permanent differences		3,276			32,019			104,592
Foreign		2,955			3,337			3,685
Valuation allowance		31,288			47,703			92,242
Other miscellaneous items		(4,844	)		3,586			(5,704	)
	$	55,924		$	30,519		$	(33,580	)

Reconciliation of liability for unrecognized tax benefits

	Unrecognized tax benefits
	(in thousands)
Unrecognized tax benefits	$	49,594
Cumulative advance deposits on account		(28,030	)
Balance at December 31, 2013	$	21,564
Additions based on current year positions		1,142
Additions based on prior year positions		4,038
Decreases due to settlements and/or reduction in reserves		(5,097	)
Currency translation adjustments		(4,844	)
Settlement payments		(356	)
Unrecognized tax benefits		44,477
Cumulative advance deposits on account		(37,441	)
Balance at December 31, 2014	$	7,036
Additions based on current year positions		561
Additions based on prior year positions		6,371
Decreases due to settlements and/or reduction in reserves		(4,743	)
Currency translation adjustments		(9,097	)
Settlement payments		(4,000	)
Unrecognized taxbenefits		33,569
Cumulative advance deposits on account		(31,371	)
Balance at December 31, 2015	$	2,198