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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of Income Before Income Taxes Attributable to Geographic Locations | Income before income taxes is attributable to the following geographic locations for the years ended December 31, (in thousands):
| 2022 |  | 2021 |  | 2020
Domestic | $ | 334,486 |  |  | $ | 137,492 |  |  | $ | 18,395 |
Foreign | 494,883 |  |  | 471,460 |  |  | 497,830 |
Income before income taxes | $ | 829,369 |  |  | $ | 608,952 |  |  | $ | 516,225 |
Schedule of Components of Tax Benefit (Expenses) for Income Taxes | The tax benefit (expenses) for income taxes consisted of the following components for the years ended December 31, (in thousands):
| 2022 |  | 2021 |  | 2020
Current: |  |  |  |  |
Federal | $ | 1,679 |  |  | $ | 7,753 |  |  | $ | 4,552 |
State and local | (892) |  |  | (156) |  |  | 1,597 |
Foreign | (83,210) |  |  | (76,450) |  |  | (171,092) |
Subtotal | (82,423) |  |  | (68,853) |  |  | (164,943) |
Deferred: |  |  |  |  |
Federal | (16,284) |  |  | 11,060 |  |  | 16,553 |
State and local | (5,024) |  |  | (1,411) |  |  | 704 |
Foreign | (21,061) |  |  | (50,020) |  |  | 1,535 |
Subtotal | (42,369) |  |  | (40,371) |  |  | 18,792 |
Income tax expense | $ | (124,792) |  |  | $ | (109,224) |  |  | $ | (146,151) |
Schedule of Income Tax Reconciliation | The fiscal 2022, 2021, and 2020 income tax benefit (expenses) differed from the amounts computed by applying the U.S. federal income tax rate of 21% to pre-tax income as a result of the following for the years ended December 31 (in thousands):
| 2022 |  | 2021 |  | 2020
Federal tax at statutory rate | $ | (174,168) |  |  | $ | (127,880) |  |  | $ | (109,906) |
State and local tax (expense) benefit | (5,916) |  |  | (1,513) |  |  | 2,071 |
Deferred tax assets generated in current year not benefited | (39,196) |  |  | (19,703) |  |  | (12,852) |
Foreign income tax rate differential | (12,379) |  |  | (18,918) |  |  | (16,364) |
Non-deductible expenses | (5,995) |  |  | (10,579) |  |  | (4,427) |
Stock-based compensation expense | (8,321) |  |  | (1,385) |  |  | (954) |
Change in valuation allowance | (19,793) |  |  | (595) |  |  | 390 |
Foreign financing activities | (5,519) |  |  | (4,805) |  |  | (11,743) |
Uncertain tax positions reserve | 45,317 |  |  | 50,059 |  |  | (38,014) |
Tax adjustments related to REIT | 107,312 |  |  | 39,164 |  |  | 50,107 |
Change in deferred tax adjustments | (239) |  |  | (1,251) |  |  | (136) |
Effect of tax rate change on deferred tax assets | (3,126) |  |  | (12,297) |  |  | — |
Other, net | (2,769) |  |  | 479 |  |  | (4,323) |
Total income tax expense | $ | (124,792) |  |  | $ | (109,224) |  |  | $ | (146,151) |
Schedule of Deferred Tax Assets and Liabilities | The types of temporary differences that give rise to significant portions of our deferred tax assets and liabilities are set out below as of December 31 (in thousands):
| 2022 |  | 2021(1)
Deferred tax assets: |  |  |
Stock-based compensation expense | $ | 9,002 |  |  | $ | 9,057 |
Net unrealized losses | 3,988 |  |  | — |
Operating lease liabilities | 253,005 |  |  | 225,261 |
Capital lease liabilities | — |  |  | 13,927 |
Deferred revenue | 13,887 |  |  | 14,429 |
Goodwill | 20,511 |  |  | 30,842 |
Loss carryforwards and tax credits | 142,270 |  |  | 201,132 |
Others, net | 32,543 |  |  | 7,257 |
Gross deferred tax assets | 475,206 |  |  | 501,905 |
Valuation allowance | (166,594) |  |  | (100,746) |
Total deferred tax assets, net | 308,612 |  |  | 401,159 |
Deferred tax liabilities: |  |  |
Net unrealized gains | — |  |  | (1,462) |
Capital lease liabilities | (8,033) |  |  | — |
Property, plant and equipment | (221,343) |  |  | (262,532) |
Right-of-use assets | (256,837) |  |  | (233,199) |
Deferred income | (28,314) |  |  | (33,052) |
Intangible assets | (132,816) |  |  | (151,385) |
Total deferred tax liabilities | (647,343) |  |  | (681,630) |
Net deferred tax liabilities | $ | (338,731) |  |  | $ | (280,471) |
(1) The prior year amounts presented in the table above have been reclassified to conform with the current year presentation.
Schedule of Changes in Valuation Allowance for Deferred Tax Assets | Changes in the valuation allowance for deferred tax assets for the years ended December 31, 2022, 2021 and 2020 are as follows (in thousands):
| 2022 |  | 2021 |  | 2020
Beginning balance | $ | 100,746 |  |  | $ | 82,344 |  |  | $ | 57,812 |
Amounts from acquisitions | 13,458 |  |  | 964 |  |  | 5,777 |
Amounts recognized into income | 22,905 |  |  | 595 |  |  | (390) |
Current increase | 36,513 |  |  | 19,539 |  |  | 15,044 |
Impact of foreign currency exchange | (7,028) |  |  | (2,696) |  |  | 4,101 |
Ending balance | $ | 166,594 |  |  | $ | 100,746 |  |  | $ | 82,344 |
Schedule of Net operating Loss Carryforwards | Our NOL carryforwards for federal, state and foreign tax purposes which expire, if not utilized, at various intervals from 2023, are outlined below (in thousands):
Expiration Date |  | Federal (1) |  | State (1) |  | Foreign (2) (3) |  | Total
2023 |  | $ | 17,395 |  |  | $ | — |  |  | $ | 2,083 |  |  | $ | 19,478 |
2024 to 2026 |  | 15,564 |  |  | — |  |  | 33,722 |  |  | 49,286 |
2027 to 2029 |  | 6,065 |  |  | — |  |  | 28,046 |  |  | 34,111 |
2030 to 2032 |  | — |  |  | 767 |  |  | 5,457 |  |  | 6,224 |
2033 to 2035 |  | 1,838 |  |  | 1,339 |  |  | 11,692 |  |  | 14,869 |
2036 to 2038 |  | 5,294 |  |  | 3,636 |  |  | 20,143 |  |  | 29,073 |
Thereafter |  | 147,010 |  |  | 74,416 |  |  | 452,303 |  |  | 673,729 |
|  | $ | 193,166 |  |  | $ | 80,158 |  |  | $ | 553,446 |  |  | $ | 826,770 |
(1)The total amount of NOL carryforwards that will not be available to offset our future taxable income after the dividends paid deduction due to Section 382 limitations was $36.7 million for federal and $22.7 million for state. (2)In certain jurisdictions, the net operating loss carryforwards can only be used to offset a percentage of taxable income in a given year. (3)If certain substantial changes in the entity's ownership occur or have determined to have occurred, there may be a limitation on the amount of the carryforwards that can be utilized.
Schedule of Reconciliation of Unrecognized Tax Benefits | The beginning and ending balances of our unrecognized tax benefits are reconciled below for the years ended December 31 (in thousands):
| 2022 |  | 2021 |  | 2020
Beginning balance | $ | 148,300 |  |  | $ | 207,759 |  |  | $ | 173,726 |
Gross increases related to prior year tax positions | 1,401 |  |  | 4,547 |  |  | 14,732 |
Gross decreases related to prior year tax positions | (43,575) |  |  | (58,356) |  |  | — |
Gross increases related to current year tax positions | 7,004 |  |  | 10,000 |  |  | 29,149 |
Decreases resulting from expiration of statute of limitation | (11,969) |  |  | (10,561) |  |  | (6,518) |
Decreases resulting from settlements | (11,924) |  |  | (5,089) |  |  | (3,330) |
Ending balance | $ | 89,237 |  |  | $ | 148,300 |  |  | $ | 207,759 |

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