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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

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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.

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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.

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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.

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