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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

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, 2022 and 2021 are presented below:

			DECEMBER 31,
			2022						2021
Deferred Tax Assets:
Accrued liabilities and other adjustments			$	80,159					$	54,859
Net operating loss carryforwards			97,161						90,996
Valuation allowance			(47,514)						(51,744)
			129,806						94,111
Deferred Tax Liabilities:
Other assets, principally due to differences in amortization			(243,150)						(178,657)
Plant and equipment, principally due to differences in depreciation			(78,486)						(76,204)
Other			(52,786)						(46,281)
			(374,422)						(301,142)
Net deferred tax liability			$	(244,616)					$	(207,031)

The deferred tax assets and deferred tax liabilities as of December 31, 2022 and 2021 are presented below:

			DECEMBER 31,
			2022						2021
Noncurrent deferred tax assets (Included in Other, a component of Other assets, net)			$	18,389					$	16,903
Deferred income taxes			(263,005)						(223,934)

Roll forward of Valuation allowance

Rollforward of the valuation allowance is as follows:

YEAR ENDED DECEMBER 31,						BALANCE AT BEGINNING OF THE YEAR						(CREDITED) CHARGED TO EXPENSE						OTHER (DECREASES)/ INCREASES(1)						BALANCE AT END OF THE YEAR
2022						$	51,744					$	(1,333)					$	(2,897)					$	47,514
2021						46,938						8,406						(3,600)						51,744
2020						60,003						(8,337)						(4,728)						46,938

(1)Other decreases and increases 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 net income (loss) before provision (benefit) for income taxes for the years ended December 31, 2022, 2021 and 2020 are as follows:

			YEAR ENDED DECEMBER 31,
			2022						2021						2020
United States			$	449,241					$	212,460					$	276,145
Canada			103,826						78,780						52,332
Other Foreign			78,571						337,775						44,228
Net income (loss) before provision (benefit) for income taxes			$	631,638					$	629,015					$	372,705

Provision (benefit) for income taxes

The provision (benefit) for income taxes for the years ended December 31, 2022, 2021 and 2020 consist of the following components:

			YEAR ENDED DECEMBER 31,
			2022						2021						2020
Federal—current			$	24,331					$	54,867					$	(10,424)
Federal—deferred			(30,581)						14,322						8,834
State—current			8,553						9,566						2,956
State—deferred			(3,728)						(526)						(625)
Foreign—current			92,525						83,154						50,063
Foreign—deferred			(21,611)						14,907						(21,195)
Provision (Benefit) for Income Taxes			$	69,489					$	176,290					$	29,609

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 net income (loss) before provision (benefit) for income taxes for the years ended December 31, 2022, 2021 and 2020, respectively, is as follows:

			YEAR ENDED DECEMBER 31,
			2022						2021						2020
Computed "expected" tax provision			$	132,644					$	132,093					$	78,268
Changes in income taxes resulting from:
Tax adjustment relating to REIT			(82,620)						(8,203)						(60,378)
State taxes (net of federal tax benefit)			4,043						8,027						2,258
(Decrease) increase in valuation allowance (net operating losses)			(1,333)						8,406						(8,337)
Withholding taxes			10,600						23,654						6,835
Reserve (reversal) accrual and audit settlements (net of federal tax benefit)			40						3,072						(7,409)
Remeasurement of the Deferred Purchase Obligation			(19,656)						—						—
Foreign tax rate differential			22,227						9,856						9,472
Disallowed foreign interest, Subpart F income, and other foreign taxes			2,820						(3,437)						13,407
Other, net			724						2,822						(4,507)
Provision (Benefit) for Income Taxes			$	69,489					$	176,290					$	29,609

The primary reconciling items between the federal statutory tax rate of 21.0% and our overall effective tax rate were:

YEAR ENDED DECEMBER 31,
2022			2021			2020
The benefits derived from the dividends paid deduction of $82,620 and the differences in the tax rates to which our foreign earnings are subject of $22,227. In addition, there were gains and losses recorded in Other (income) expense, net and Gain (loss) on disposal/write-down of property, plant and equipment, net during the period for which there were insignificant tax impacts.			The benefit derived from the dividends paid deduction of $8,203 which was offset by (i) 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 (ii) 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.

Rollforward of unrecognized tax benefits

A rollforward of unrecognized tax benefits is as follows:

Gross tax contingencies—January 1, 2020			$	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
Gross additions based on tax positions related to the current year			2,271
Gross additions for tax positions of prior years			723
Gross reductions for tax positions of prior years			(1,866)
Acquired unrecognized tax benefits			1,354
Lapses of statutes			(2,501)
Gross tax contingencies—December 31, 2022			$	27,753

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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 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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