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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Provision for Federal and Foreign Income Tax Expense for Continuing Operations | The Company’s provision for federal and foreign income tax expense for continuing operations consisted of the following:
|  | Year Ended December 31, |
|  | 2017 |  |  | 2018 |  |  | 2019 |
Income before income taxes: |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 280,535 |  |  | $ | 289,727 |  |  | $ | 235,571 |
Foreign |  |  | 64,842 |  |  |  | 21,007 |  |  |  | 38,189 |
Total |  | $ | 345,377 |  |  | $ | 310,734 |  |  | $ | 273,760 |
Current and Deferred Income Taxes | Current and deferred income taxes were as follows:
|  | Year Ended December 31, |
|  | 2017 |  |  | 2018 |  |  | 2019 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 54,435 |  |  | $ | 46,826 |  |  | $ | 45,247 |
Foreign |  |  | 29,306 |  |  |  | 11,822 |  |  |  | 24,022 |
State |  |  | 10,632 |  |  |  | 13,594 |  |  |  | 12,486 |
Total current expense |  | $ | 94,373 |  |  | $ | 72,242 |  |  | $ | 81,755 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | (14,046 | ) |  | $ | 27,055 |  |  | $ | (298 | )
Foreign |  |  | (4,270 | ) |  |  | (6,166 | ) |  |  | 5 |
State |  |  | 3,301 |  |  |  | 2,298 |  |  |  | (1,550 | )
Total deferred taxes |  | $ | (15,015 | ) |  | $ | 23,187 |  |  | $ | (1,843 | )
Income taxes |  | $ | 79,358 |  |  | $ | 95,429 |  |  | $ | 79,912 |
Reconciliation Between Income Tax Expense and Taxes Computed | A reconciliation between income tax expense and taxes computed by applying the applicable statutory federal income tax rate to income before income taxes follows:
|  | Year Ended December 31, |
|  | 2017 |  |  | 2018 |  |  | 2019 |
Computed statutory tax expense |  | $ | 120,882 |  |  | $ | 65,254 |  |  | $ | 57,490 |
State and local income taxes, net of federal income tax impact |  |  | 12,786 |  |  |  | 12,611 |  |  |  | 8,479 |
Changes in valuation allowance |  |  | 44 |  |  | 131 |  |  | 2,532 |
Foreign tax rate differential |  |  | (245 | ) |  |  | 2,235 |  |  |  | 4,646 |
Foreign dividends |  |  | 13,662 |  |  | — |  |  | — |
Foreign tax credits |  |  | (21,647 | ) |  |  | 3,927 |  |  |  | 4,143 |
Impacts related to 2017 Tax Act (1)(2) |  |  | (44,889 | ) |  |  | 19,180 |  |  | — |
Changes in uncertain tax positions |  |  | 983 |  |  |  | (6,139 | ) |  |  | 197 |
Other — net |  |  | (2,218 | ) |  |  | (1,770 | ) |  |  | 2,425 |
Income taxes |  | $ | 79,358 |  |  | $ | 95,429 |  |  | $ | 79,912 |
(1) | The amount for the year ended December 31, 2018 includes a one-time charge to true-up deferred taxes of $1,913 and a reduction in deferred tax assets with regard to foreign tax credit carryforwards of $17,267.
(2) | The amount for the year ended December 31, 2017 includes a one-time benefit due to re-measurement of net deferred tax liabilities using a lower U.S. corporate tax rate and a reassessment of permanently reinvested earnings of ($79,834), a deemed repatriation tax of $14,512, and a reduction in deferred tax assets with regard to foreign tax credit carryforwards of $20,433.
Tax Effects of Significant Temporary Differences and Tax Loss and Tax Credit Carryforwards | The tax effects of significant temporary differences and tax loss and tax credit carryforwards comprising the net long-term deferred income tax liabilities as of December 31, 2018 and 2019 consisted of the following:
|  | December 31, |
|  | 2018 |  |  | 2019 |
Deferred liabilities: |  |  |  |  |  |  |  |
Theatre properties and equipment |  | $ | 158,797 |  |  | $ | 138,382 |
Operating lease right-of-use assets |  |  | — |  |  |  | 322,750 |
Intangible asset — other |  |  | 33,561 |  |  |  | 39,282 |
Intangible asset — tradenames |  |  | 73,261 |  |  |  | 72,821 |
Investment in partnerships |  |  | 63,217 |  |  |  | 62,914 |
Total deferred liabilities |  |  | 328,836 |  |  |  | 636,149 |
Deferred assets: |  |  |  |  |  |  |  |
Deferred lease expenses |  |  | 13,464 |  |  |  | — |
Deferred revenue - NCM |  |  | 86,035 |  |  |  | 85,362 |
Deferred revenue - Other |  |  | 4,153 |  |  |  | 9,953 |
Gift Cards |  |  | 6,173 |  |  |  | 7,402 |
Operating lease obligations |  |  | — |  |  |  | 336,034 |
Finance lease obligations |  |  | 63,895 |  |  |  | 34,956 |
Tax impact of items in accumulated other comprehensive income |  |  | 2,237 |  |  |  | 5,131 |
Other tax loss carryforwards |  |  | 15,608 |  |  |  | 17,053 |
Other tax credit carryforwards |  |  | 42,989 |  |  |  | 46,577 |
Other expenses, not currently deductible for tax purposes |  |  | 17,755 |  |  |  | 21,573 |
Total deferred assets |  |  | 252,309 |  |  |  | 564,041 |
Net deferred income tax liability before valuation allowance |  |  | 76,527 |  |  |  | 72,108 |
Valuation allowance against deferred assets – non-current |  |  | 54,725 |  |  |  | 60,359 |
Net deferred income tax liability |  | $ | 131,252 |  |  | $ | 132,467 |
Net deferred tax (asset) liability — Foreign |  | $ | (5,449 | ) |  | $ | (4,539 | )
Net deferred tax liability — U.S. |  |  | 136,701 |  |  |  | 137,006 |
Total |  | $ | 131,252 |  |  | $ | 132,467 |
Reconciliation of Total Amounts of Unrecognized Tax Benefits Excluding Interest and Penalties | The following is a reconciliation of the total amounts of unrecognized tax benefits excluding interest and penalties, for the years ended December 31, 2017, 2018 and 2019:
|  | Year Ended December 31, |
|  | 2017 |  |  | 2018 |  |  | 2019 |
Balance at January 1, |  | $ | 17,403 |  |  | $ | 18,266 |  |  | $ | 10,561 |
Gross increases - tax positions in prior periods |  |  | 92 |  |  | — |  |  | 1 |
Gross decreases - tax positions in prior periods |  |  | (12 | ) |  |  | (143 | ) |  | — |
Gross increases - current period tax positions |  |  | 265 |  |  |  | 424 |  |  |  | 202 |
Settlements |  |  | (177 | ) |  |  | (7,191 | ) |  |  | (522 | )
Foreign currency translation adjustments |  |  | 695 |  |  |  | (795 | ) |  |  | (7 | )
Balance at December 31, |  | $ | 18,266 |  |  | $ | 10,561 |  |  | $ | 10,235 |

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