v2.4.1.9

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2014
Income Tax Disclosure [Abstract] |
Components of Earnings (Loss) Before Income Taxes | Components of earnings (loss) before income taxes for the years ended December 31 were as follows (in thousands):
|  | 2014 |  |  | 2013 |  |  | 2012 |
Domestic |  | $ | 390,874 |  |  | $ | (404,910) |  |  | $ | (65,566) |
International |  |  | 322,754 |  |  |  | 741,172 |  |  |  | (37,251) |
Earnings (loss) before income taxes |  | $ | 713,628 |  |  | $ | 336,262 |  |  | $ | (102,817) |
Components of Provision for Income Tax | Components of the provision for income taxes for the years ended December 31 were as follows (in thousands):
|  | 2014 |  |  | 2013 |  |  | 2012 |
Current income tax expense (benefit): |  |  |  |  |  |  |  |  |  |  |  |
United States federal |  | $ | (6,585) |  |  | $ | 20,009 |  |  | $ | (27,897) |
International |  |  | 52,155 |  |  |  | 99,478 |  |  |  | 46,294 |
State and local |  |  | 16,014 |  |  |  | 8,501 |  |  |  | 7,383 |
Total current tax expense |  |  | 61,584 |  |  |  | 127,988 |  |  |  | 25,780 |
Deferred income tax expense (benefit): |  |  |  |  |  |  |  |  |  |  |  |
United States federal |  |  | (27,374) |  |  |  | (1,133) |  |  |  | 152 |
International |  |  | (59,866) |  |  |  | (18,934) |  |  |  | (22,119) |
Total deferred tax benefit |  |  | (87,240) |  |  |  | (20,067) |  |  |  | (21,967) |
Total income tax expense (benefit), included in continuing and discontinued operations |  | $ | (25,656) |  |  | $ | 107,921 |  |  | $ | 3,813 |
Deferred Income Tax Assets and Liabilities | Deferred income tax assets and liabilities at December 31 were as follows (in thousands):
|  | 2014 |  |  | 2013 |
Gross deferred income tax assets: |  |  |  |  |  |  |  |
Net operating loss carryforwards (1) |  | $ | 346,978 |  |  | $ | 391,764 |
Basis difference - real estate properties |  |  | 105,205 |  |  |  | 133,767 |
Basis difference - equity investments |  |  | 12,401 |  |  |  | 9,238 |
Basis difference - intangibles |  |  | 5,952 |  |  |  | 8,113 |
Section 163(j) interest limitation |  |  | 32,703 |  |  |  | 33,224 |
Capital loss carryforward |  |  | 25,282 |  |  |  | 32,054 |
Other - temporary differences |  |  | 10,701 |  |  |  | 20,124 |
Total gross deferred income tax assets |  |  | 539,222 |  |  |  | 628,284 |
Valuation allowance |  |  | (518,241) |  |  |  | (583,675) |
Gross deferred income tax assets, net of valuation allowance |  |  | 20,981 |  |  |  | 44,609 |
Gross deferred income tax liabilities: |  |  |  |  |  |  |  |
Basis difference - real estate properties |  |  | 89,998 |  |  |  | 167,951 |
Built-in-gains - equity investments and real estate properties |  |  | - |  |  |  | 27,116 |
Basis difference- intangibles |  |  | 7,324 |  |  |  | 8,823 |
Other - temporary differences |  |  | 716 |  |  |  | 5,269 |
Total gross deferred income tax liabilities |  |  | 98,038 |  |  |  | 209,159 |
Net deferred income tax liabilities |  | $ | 77,057 |  |  | $ | 164,550 |
(1) | At December 31, 2014, we had net operating loss (“NOL”) carryforwards as follows (in millions):
Summary of Operating Loss Carryforwards |
(1) | At December 31, 2014, we had net operating loss (“NOL”) carryforwards as follows (in millions):
|  | U.S. |  |  | Europe |  |  | Mexico |  |  | Japan |  |  | Other |
Gross NOL carryforward |  | $ | 92 |  |  | $ | 747 |  |  | $ | 246 |  |  | $ | 132 |  |  | $ | 67 |
Tax-effected NOL carryforward |  |  | 35 |  |  |  | 197 |  |  |  | 74 |  |  |  | 25 |  |  |  | 16 |
Valuation allowance |  |  | (35) |  |  |  | (188) |  |  |  | (74) |  |  |  | (25) |  |  |  | (16) |
Net deferred tax asset-NOL carryforward |  | $ | - |  |  | $ | 9 |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Expiration periods |  |  | 2022-2033 |  |  |  | 2015-indefinite |  |  |  | 2015-2025 |  |  |  | 2015-2023 |  |  |  | 2015-indefinite |
Summary of Income Tax Contingencies | The liability for uncertain tax positions principally consisted of estimated federal income tax liabilities and included accrued interest and penalties of $0.3 million and $0.9 million at December 31, 2014 and 2013, respectively. A reconciliation of the liability for uncertain tax positions for the years ended December 31 was as follows (in thousands):
|  | 2014 |  |  | 2013 |
Balance at January 1 |  | $ | 1,318 |  |  | $ | 7,943 |
Additions for tax positions taken during a prior year |  |  | 256 |  |  |  | 405 |
Settlements with taxing authorities |  |  | - |  |  |  | (7,030) |
Reductions due to lapse of applicable statute of limitations |  |  | (1,318) |  |  |  | - |
Balance at December 31 |  | $ | 256 |  |  | $ | 1,318 |

X
- Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 + Details
Name: | us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
Name: | us-gaap_SummaryOfOperatingLossCarryforwardsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration