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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2014
Income Taxes |
Components of income (loss) before income taxes | The components of income (loss) before income taxes were as follows (in thousands):
|  | Years Ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
United States |  | $ | 39,266 |  | $ | 127,907 |  | $ | (152,518 | )
Foreign |  | 72,599 |  | 48,540 |  | 33,618 |
Income (loss) before income taxes |  | $ | 111,865 |  | $ | 176,447 |  | $ | (118,900 | )
Summary of provision for (benefit from) income taxes | The provision for (benefit from) income taxes consisted of the following (in thousands):
|  | Years Ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
Current tax provision (benefit): |  |  |  |  |  |  |
U.S. federal |  | $ | 40 |  | $ | (310 | ) | $ | (7,050 | )
State |  | 1,598 |  | 5,461 |  | 2,182 |
Foreign |  | 56,029 |  | 55,796 |  | 35,238 |
Total current |  | 57,667 |  | 60,947 |  | 30,370 |
Deferred tax provision (benefit): |  |  |  |  |  |  |
U.S. federal |  | 3,606 |  | 17,292 |  | (55,327 | )
State |  | (4,406 | ) | (931 | ) | (5,043 | )
Foreign |  | 1,790 |  | 7,411 |  | (15,755 | )
Total deferred |  | 990 |  | 23,772 |  | (76,125 | )
Provision for (benefit from) income taxes |  | $ | 58,657 |  | $ | 84,719 |  | $ | (45,755 | )
Reconciliation of effective tax rate and U.S. statutory rate. | The reasons for the differences between these effective tax rates and the U.S. statutory rate of 35% are as follows (in thousands):
|  | Years Ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
Income taxes at U.S. federal statutory rate of 35% |  | $ | 39,153 |  | $ | 61,756 |  | $ | (41,615 | )
Net state income taxes |  | (4,281 | ) | 3,318 |  | (2,836 | )
Foreign taxes |  | 31,289 |  | 28,470 |  | 14,607 |
Noncontrolling interest |  | (11,166 | ) | (12,685 | ) | (1,772 | )
Foreign tax credits |  | (12,014 | ) | (14,659 | ) | (9,925 | )
Unrecognized tax benefits |  | 4,466 |  | 2,889 |  | (166 | )
Valuation allowances |  | 15,109 |  | 21,486 |  | 14,649 |
Proceeds from sale of joint venture assets |  | (5,162 | ) | (6,650 | ) | (18,019 | )
Other |  | 1,263 |  | 794 |  | (678 | )
Provision for (benefit from) income taxes |  | $ | 58,657 |  | $ | 84,719 |  | $ | (45,755 | )
Tax effects of deferred tax assets and deferred tax liabilities | The tax effects of temporary differences that give rise to deferred tax assets and deferred tax liabilities are as follows (in thousands):
|  | December 31, |
|  | 2014 |  | 2013 |
Deferred tax assets: |  |  |  |  |
Net operating loss carryforwards |  | $ | 142,401 |  | $ | 169,533 |
Inventory |  | 6,525 |  | 6,684 |
Alternative minimum tax credit carryforwards |  | 5,685 |  | 5,615 |
Accrued liabilities |  | 16,260 |  | 14,446 |
Foreign tax credit carryforwards |  | 136,864 |  | 124,850 |
Other |  | 38,901 |  | 40,608 |
Subtotal |  | 346,636 |  | 361,736 |
Valuation allowances |  | (112,995 | ) | (102,418 | )
Total deferred tax assets |  | 233,641 |  | 259,318 |
Deferred tax liabilities: |  |  |  |  |
Property, plant and equipment |  | (181,887 | ) | (209,297 | )
Basis difference in the Partnership |  | (136,438 | ) | (104,079 | )
Total deferred tax liabilities |  | (318,325 | ) | (313,376 | )
Net deferred tax liabilities |  | $ | (84,684 | ) | $ | (54,058 | )
Tax balances presented in the accompanying consolidated balance sheets | Tax balances are presented in the accompanying consolidated balance sheets as follows (in thousands):
|  | December 31, |
|  | 2014 |  | 2013 |
Current deferred income tax assets |  | $ | 79,856 |  | $ | 117,576 |
Intangibles and other assets |  | 23,540 |  | 28,050 |
Accrued liabilities |  | (635 | ) | (1,331 | )
Deferred income tax liabilities |  | (187,445 | ) | (198,353 | )
Net deferred tax liabilities |  | $ | (84,684 | ) | $ | (54,058 | )
Reconciliation of beginning and ending amount of unrecognized tax benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits (including discontinued operations) is shown below (in thousands):
|  | Years Ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
Beginning balance |  | $ | 11,259 |  | $ | 9,597 |  | $ | 14,745 |
Additions based on tax positions related to current year |  | 954 |  | 365 |  | 289 |
Additions based on tax positions related to prior years |  | 2,597 |  | 1,710 |  | 1,579 |
Reductions based on settlement with government authority |  | — |  | — |  | (5,753 | )
Reductions based on lapse of statute of limitations |  | (215 | ) | (97 | ) | (1,263 | )
Reductions based on tax positions related to prior years |  | — |  | (316 | ) | — |
Ending balance |  | $ | 14,595 |  | $ | 11,259 |  | $ | 9,597 |

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