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Income Taxes (Tables)

12 Months Ended

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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