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INCOME TAXES (Tables) | 6 Months Ended
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Jun. 30, 2014
Income Tax Disclosure [Abstract] |
Schedule of Effective Income Tax Rate Reconciliation | The tables below reconcile the U.S. statutory rate to the Company’s effective tax rate for each period presented:
| Three Months Ended June 30,
| 2014 |  | 2013
| (Restated) |  | (Restated) |  |  |  |
Income tax expense at federal statutory rate | $ | 6,153 |  |  | 35.0 | % |  | $ | 8,289 |  |  | 35.0 | %
REIT income and taxable losses | (5,625 | ) |  | (32.0 | ) |  | (20,001 | ) |  | (84.4 | )
Reverse loss on FMV of exchangeable notes | — |  |  | — |  |  | 828 |  |  | 3.5 |
Foreign operations | (728 | ) |  | (4.1 | ) |  | 458 |  |  | 1.9 |
Non-deductible real estate losses | 590 |  |  | 3.4 |  |  | — |  |  | — |
Other | 119 |  |  | 0.6 |  |  | 115 |  |  | 0.5 |
Income tax expense (benefit) before discrete items | 509 |  |  | 2.9 | % |  | (10,311 | ) |  | (43.5 | )%
CBPC valuation allowance | 15,574 |  |  | 88.7 |  |  | — |  |  | — |
Spin-off related costs | 797 |  |  | 4.5 |  |  | — |  |  | — |
Deferred tax inventory valuations | (3,293 | ) |  | (18.7 | ) |  | — |  |  | — |
Gain related to consolidation of New Zealand joint venture | — |  |  | — |  |  | (5,636 | ) |  | (23.8 | )
Other | (31 | ) |  | (0.3 | ) |  | — |  |  | — |
Income tax expense (benefit) as reported for continuing operations | $ | 13,556 |  |  | 77.1 | % |  | $ | (15,947 | ) |  | (67.3 | )%
| Six Months Ended June 30,
| 2014 |  | 2013
| (Restated) |  | (Restated) |  |  |  |
Income tax expense at federal statutory rate | $ | 7,112 |  |  | 35.0 | % |  | $ | 12,851 |  |  | 35.0 | %
REIT income and taxable losses | (13,823 | ) |  | (69.3 | ) |  | (31,324 | ) |  | (85.3 | )
Foreign operations | (841 | ) |  | (0.3 | ) |  | 1,517 |  |  | 4.1 |
Non-deductible real estate losses | 681 |  |  | 1.2 |  |  | — |  |  | — |
Reverse loss on FMV of exchangeable notes | — |  |  | — |  |  | 1,284 |  |  | 3.5 |
Other | 138 |  |  | 0.3 |  |  | (151 | ) |  | (0.4 | )
Income tax benefit before discrete items | (6,733 | ) |  | (33.1 | )% |  | (15,823 | ) |  | (43.1 | )%
CBPC valuation allowance | 15,574 |  |  | 76.6 |  |  | — |  |  | — |
Spin-off related costs | 797 |  |  | 3.9 |  |  | — |  |  | — |
Deferred tax inventory valuations | (3,293 | ) |  | (16.2 | ) |  | — |  |  | — |
Gain related to consolidation of New Zealand joint venture | — |  |  | — |  |  | (5,636 | ) |  | (15.3 | )
Other | (384 | ) |  | (1.9 | ) |  | (483 | ) |  | (1.4 | )
Income tax expense (benefit) as reported for continuing operations | $ | 5,961 |  |  | 29.3 | % |  | $ | (21,942 | ) |  | (59.8 | )%

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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
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