XML 139 R34.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Components of deferred tax assets and deferred tax liabilities | The significant components of our deferred tax assets and deferred tax liabilities as of December 31, 2021 and 2020 are presented below:
| DECEMBER 31,
| 2021 |  | 2020
Deferred Tax Assets: |  |  |
Accrued liabilities and other adjustments | $ | 54,859 |  |  | $ | 52,527 |
Net operating loss carryforwards | 90,996 |  |  | 96,710 |
Valuation allowance | (51,744) |  |  | (46,938) |
| 94,111 |  |  | 102,299 |
Deferred Tax Liabilities: |  |  |
Other assets, principally due to differences in amortization | (178,657) |  |  | (186,682) |
Plant and equipment, principally due to differences in depreciation | (76,204) |  |  | (59,711) |
Other | (46,281) |  |  | (29,265) |
| (301,142) |  |  | (275,658) |
Net deferred tax liability | $ | (207,031) |  |  | $ | (173,359) |
The deferred tax assets and deferred tax liabilities as of December 31, 2021 and 2020 are presented below:
| DECEMBER 31,
| 2021 |  | 2020
Noncurrent deferred tax assets (Included in Other, a component of Other assets, net) | $ | 16,903 |  |  | $ | 25,018 |
Deferred income taxes | (223,934) |  |  | (198,377) |
Roll forward of Valuation allowance | Rollforward of the valuation allowance is as follows:
YEAR ENDED DECEMBER 31, |  | BALANCE AT BEGINNING OF THE YEAR |  | CHARGED (CREDITED) TO EXPENSE |  | OTHER INCREASES/ (DECREASES)(1) |  | BALANCE AT END OF THE YEAR
2021 |  | $ | 46,938 |  |  | $ | 8,406 |  |  | $ | (3,600) |  |  | $ | 51,744 |
2020 |  | 60,003 |  |  | (8,337) |  |  | (4,728) |  |  | 46,938 |
2019 |  | 55,666 |  |  | 6,211 |  |  | (1,874) |  |  | 60,003 |
(1)Other increases and decreases in valuation allowances are primarily related to changes in foreign currency exchange rates.
Components of income (loss) from continuing operations before provision for income taxes | The components of income (loss) from continuing operations before provision (benefit) for income taxes for the years ended December 31, 2021, 2020 and 2019 are as follows:
| YEAR ENDED DECEMBER 31,
| 2021 |  | 2020 |  | 2019
United States | $ | 212,460 |  |  | $ | 276,145 |  |  | $ | 203,225 |
Canada | 78,780 |  |  | 52,332 |  |  | 48,326 |
Other Foreign | 337,775 |  |  | 44,228 |  |  | 76,591 |
| $ | 629,015 |  |  | $ | 372,705 |  |  | $ | 328,142 |
Provision (benefit) for income taxes | The provision (benefit) for income taxes for the years ended December 31, 2021, 2020 and 2019 consist of the following components:
| YEAR ENDED DECEMBER 31,
| 2021 |  | 2020 |  | 2019
Federal—current | $ | 54,867 |  |  | $ | (10,424) |  |  | $ | 7,262 |
Federal—deferred | 14,322 |  |  | 8,834 |  |  | (3,356) |
State—current | 9,566 |  |  | 2,956 |  |  | 3,943 |
State—deferred | (526) |  |  | (625) |  |  | (1,126) |
Foreign—current | 83,154 |  |  | 50,063 |  |  | 49,350 |
Foreign—deferred | 14,907 |  |  | (21,195) |  |  | 3,858 |
Provision (Benefit) for Income Taxes | $ | 176,290 |  |  | $ | 29,609 |  |  | $ | 59,931 |
Reconciliation of total income tax expense and amount computed by applying the federal income tax rate | A reconciliation of total income tax expense and the amount computed by applying the current federal statutory tax rate of 21.0% to income (loss) from continuing operations before provision (benefit) for income taxes for the years ended December 31, 2021, 2020 and 2019, respectively, is as follows:
| YEAR ENDED DECEMBER 31,
| 2021 |  | 2020 |  | 2019
Computed "expected” tax provision | $ | 132,093 |  |  | $ | 78,268 |  |  | $ | 68,910 |
Changes in income taxes resulting from: |  |  |  |  |
Tax adjustment relating to REIT | (8,203) |  |  | (60,378) |  |  | (40,577) |
State taxes (net of federal tax benefit) | 8,027 |  |  | 2,258 |  |  | 2,115 |
Increase (decrease) in valuation allowance (net operating losses) | 8,406 |  |  | (8,337) |  |  | 6,211 |
Withholding Taxes | 23,654 |  |  | 6,835 |  |  | 5,281 |
Reserve (reversal) accrual and audit settlements (net of federal tax benefit) | 3,072 |  |  | (7,409) |  |  | 514 |
Foreign tax rate differential | 9,856 |  |  | 9,472 |  |  | 8,562 |
Disallowed foreign interest, Subpart F income, and other foreign taxes | (3,437) |  |  | 13,407 |  |  | 8,960 |
Other, net | 2,822 |  |  | (4,507) |  |  | (45) |
Provision (Benefit) for Income Taxes | $ | 176,290 |  |  | $ | 29,609 |  |  | $ | 59,931 |
The primary reconciling items between the federal statutory tax rate of 21.0% and our overall effective tax rate were:
YEAR ENDED DECEMBER 31,
2021 | 2020 | 2019
The benefit derived from the dividends paid deduction of $8,203 which was offset by (1) the impact of differences in the tax rates at which our foreign earnings are subject to, resulting in a tax provision of $9,856, and (2) foreign withholding taxes of $23,654, which were either paid during the year or accrued, for the deferred tax liability for the U.S. tax impact of undistributed earnings of foreign TRSs that are no longer intended to be permanently reinvested outside the United States. | The benefit derived from the dividends paid deduction of $60,378 and the impact of differences in the tax rates at which our foreign earnings are subject to, resulting in a tax provision of $9,472. | The benefit derived from the dividends paid deduction of $40,577 and the impact of differences in the tax rates at which our foreign earnings are subject to, resulting in a tax provision of $8,562.
Rollforward of unrecognized tax benefits | A rollforward of unrecognized tax benefits is as follows:
Gross tax contingencies—December 31, 2018 | $ | 35,320 |
Gross additions based on tax positions related to the current year | 2,914 |
Gross additions for tax positions of prior years | 1,271 |
Gross reductions for tax positions of prior years | (299) |
Lapses of statutes | (4,034) |
Settlements | (104) |
Gross tax contingencies—December 31, 2019 | 35,068 |
Gross additions based on tax positions related to the current year | 2,907 |
Gross additions for tax positions of prior years | 80 |
Gross reductions for tax positions of prior years | (5,617) |
Lapses of statutes | (4,480) |
Settlements | (1,989) |
Gross tax contingencies—December 31, 2020 | 25,969 |
Gross additions based on tax positions related to the current year | 3,893 |
Gross additions for tax positions of prior years | 344 |
Gross reductions for tax positions of prior years | (536) |
Lapses of statutes | (1,663) |
Settlements | (235) |
Gross tax contingencies—December 31, 2021 | $ | 27,772 |

X
- References No definition available. + 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=124434304&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_SummaryOfValuationAllowanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration