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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Consolidated Income Loss Before Taxes for Domestic and Foreign

Consolidated income (loss) before taxes for United States ("U.S.") and foreign operations consisted of the following (in thousands):

			Year Ended December 31,
			2023						2022						2021
United States			$	142,775					$	339,513					$	(264,323)
Foreign			142,608						(1,039,549)						(747,193)
Total			$	285,383					$	(700,036)					$	(1,011,516)

Provision (Benefit) for Income Taxes

The income tax provision (benefit) attributable to income before income taxes is as follows (in thousands):

			December 31,
			2023						2022						2021
Current
U.S. Federal			$	(248)					$	825					$	—
U.S. State			6,337						2,882						—
Foreign			(194)						2,510						2,746
Total			5,895						6,217						2,746
Deferred
U.S. Federal			(483,786)						1,450						(176)
U.S. State			(20,310)						1,674						(20)
Foreign			1,367						(9)						(2,076)
Total			(502,729)						3,115						(2,272)
Total income tax provision (benefit)			$	(496,834)					$	9,332					$	474

Income Taxes (Federal Statutory Corporate Tax Rate)

The reconciliation of the U.S. federal statutory tax rate to the actual tax rate is as follows:

			December 31,
			2023						2022						2021
U.S. Federal statutory rate			21.0		%				21.0		%				21.0		%
State tax			(2.8)		%				0.3		%				1.6		%
Foreign tax credits, net of valuation allowance			(139.8)		%				12.5		%				0.7		%
Non-taxable foreign income			(9.6)		%				(5.7)		%				(3.0)		%
Foreign tax rate differential			0.4		%				(17.0)		%				(9.4)		%
Valuation allowance, other			(43.8)		%				(3.1)		%				(6.8)		%
Other, net			0.5		%				(9.3)		%				(4.1)		%
Effective income tax rate			(174.1)		%				(1.3)		%				—		%

Net Deferred Tax Assets and Liabilities

The tax effects of significant temporary differences representing net deferred tax assets and liabilities consisted of the following (in thousands):

			December 31,
			2023						2022
Deferred tax assets—U.S.:
Foreign tax credit carryforwards			$	1,244,149					$	1,917,822
Disallowed interest expense carryforward			156,224						164,676
Net operating loss carryforward			160,778						107,407
Lease liability			371,032						366,519
Property and equipment			50,903						15,220
Receivables, inventories, accrued liabilities and other			21,854						16,610
Stock-based compensation			9,984						8,332
Other tax credit carryforwards			19,813						11,289
Intangibles and related other			41,914						25,423
Other			—						5,849
			2,076,651						2,639,147
Less: valuation allowance			(1,172,982)						(2,253,912)
			903,669						385,235
Deferred tax liabilities—U.S.:
Leased asset			(371,032)						(366,519)
Prepaid insurance, maintenance and taxes			(16,186)						(14,138)
Property and equipment			—						(194)
Other			(15,584)						(7,612)
			(402,802)						(388,463)
Deferred tax assets—Foreign:
Net operating loss carryforwards			78,842						109,114
Property and equipment			87,849						74,439
Other			3,275						3,688
			169,966						187,241
Less: valuation allowance			(167,599)						(183,290)
			2,367						3,951
Deferred tax liabilities—Foreign:
Property and equipment			(2,357)						(2,628)
			(2,357)						(2,628)
Net deferred tax asset (liability)			$	500,877					$	(1,905)

Summary of Valuation Allowances

As of December 31, 2023 and 2022, the Company had valuation allowances provided on its deferred tax assets as follows (in thousands):

			December 31,
			2023						2022
Foreign tax credits			$	941,249					$	1,912,955
Disallowed interest expense carryforwards			—						157,990
Intangible assets			46,084						27,164
U.S. loss carryforwards			160,778						107,407
Other U.S. deferred tax assets			24,872						48,396
Foreign loss carryforwards			80,569						109,283
Other foreign deferred tax assets			87,029						74,007
Total			$	1,340,581					$	2,437,202

Reconciliation of Unrecognized Tax Benefits

The Company had the following activity for unrecognized tax benefits as follows (in thousands):

			December 31,
			2023						2022						2021
Balance at beginning of period			$	135,979					$	141,515					$	107,661
Increases based on tax positions of the current year			15,818						12,068						14,079
Increases based on tax positions of prior years			—						—						66,043
Reductions based on tax positions of prior years			—						(2,637)						(35,633)
Reductions due to lapse in statutes of limitations			(16,126)						(14,967)						(10,635)
Balance at end of period			$	135,671					$	135,979					$	141,515

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