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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2018
Income Tax Disclosure [Abstract] |
Components of deferred tax assets and liabilities | The components of the Company’s deferred tax assets and liabilities were as follows:
| December 31,
(in thousands) | 2018 |  | 2017
Deferred tax assets: |  |  |
Stock-based compensation expense | $ | 8,998 |  |  | $ | 15,038 |
Accrued expenses | 42,897 |  |  | 39,474 |
Loan to the JIVDC | — |  |  | 26,237 |
Financing obligations associated with Master Leases | 1,919,718 |  |  | 900,311 |
Unrecognized tax benefits | 6,732 |  |  | 6,565 |
Investments in unconsolidated affiliates | 3,579 |  |  | — |
Net operating losses, interest limitation and tax credit carryforwards | 122,785 |  |  | 59,842 |
Gross deferred tax assets | 2,104,709 |  |  | 1,047,467 |
Less: Valuation allowance | (89,508 | ) |  | (113,699 | )
Net deferred tax assets | 2,015,201 |  |  | 933,768 |
Deferred tax liabilities: |  |  |
Property and equipment, non-Master Leases | (47,308 | ) |  | (33,148 | )
Property and equipment, Master Leases | (1,599,907 | ) |  | (469,363 | )
Investments in unconsolidated affiliates | — |  |  | (1,218 | )
Undistributed foreign earnings | (349 | ) |  | (2,061 | )
Intangibles | (287,025 | ) |  | (37,035 | )
Net deferred tax liabilities | (1,934,589 | ) |  | (542,825 | )
Noncurrent deferred tax assets, net | $ | 80,612 |  |  | $ | 390,943 |
Components of income before income tax expense | The domestic and foreign components of income (loss) before income taxes for the years ended December 31, 2018, 2017 and 2016 were as follows:
| For the year ended December 31,
(in thousands) | 2018 |  | 2017 |  | 2016
Domestic | $ | 89,582 |  |  | $ | (29,538 | ) |  | $ | 116,693 |
Foreign | 339 |  |  | 4,494 |  |  | 3,924 |
Total | $ | 89,921 |  |  | $ | (25,044 | ) |  | $ | 120,617 |
Schedule of provision for income taxes | The provision for income taxes charged to operations for the years ended December 31, 2018, 2017 and 2016 was as follows:
| For the year ended December 31,
(in thousands) | 2018 |  | 2017 |  | 2016
Current tax benefit (expense) |  |  |  |  |
Federal | $ | (15,336 | ) |  | $ | (16,318 | ) |  | $ | (8,721 | )
State | (6,402 | ) |  | (6,062 | ) |  | (3,489 | )
Foreign | (1,349 | ) |  | 2,981 |  |  | 9,639 |
Total current | (23,087 | ) |  | (19,399 | ) |  | (2,571 | )
Deferred tax benefit (expense) |  |  |  |  |
Federal | 14,576 |  |  | 480,712 |  |  | (4,701 | )
State | 10,945 |  |  | 39,255 |  |  | (3,279 | )
Foreign | 1,159 |  |  | (2,061 | ) |  | (756 | )
Total deferred | 26,680 |  |  | 517,906 |  |  | (8,736 | )
Total income tax benefit (expense) | $ | 3,593 |  |  | $ | 498,507 |  |  | $ | (11,307 | )
Reconciliation of the statutory federal income tax rate to the actual effective income tax rate | The following table reconciles the statutory federal income tax rate to the actual effective income tax rate for the years ended December 31, 2018, 2017 and 2016:
| For the year ended December 31,
| 2018 |  | 2017 |  | 2016
Percent of pretax income |  |  |  |  |
Federal statutory rate | 21.0 | % |  | 35.0 | % |  | 35.0 | %
State and local income taxes - net of federal benefits | (6.2 | ) |  | 6.3 |  |  | 1.2 |
Nondeductible expenses | 6.9 |  |  | (16.0 | ) |  | 0.3 |
Goodwill impairment | — |  |  | (20.5 | ) |  | — |
Compensation | (3.8 | ) |  | 29.5 |  |  | (1.5 | )
Contingent liability settlement | — |  |  | 22.9 |  |  | 0.6 |
Foreign | (0.1 | ) |  | 11.3 |  |  | (8.5 | )
Valuation allowance | (20.3 | ) |  | 2,962.3 |  |  | (17.1 | )
Tax Act - deferred rate change | — |  |  | (1,043.5 | ) |  | — |
Other miscellaneous items | (1.5 | ) |  | 3.3 |  |  | (0.6 | )
Total effective tax rate | (4.0 | )% |  | 1,990.6 | % |  | 9.4 | %
The income tax benefit (expense) differs from the federal statutory amount due to the effect of the items detailed in the table below:
| For the year ended December 31,
(in thousands) | 2018 |  | 2017 |  | 2016
Amount of pretax income |  |  |  |  |
Federal statutory rate | $ | (18,883 | ) |  | $ | 8,765 |  |  | $ | (42,216 | )
State and local income taxes - net of federal benefits | 5,615 |  |  | 1,567 |  |  | (1,498 | )
Nondeductible expenses | (6,161 | ) |  | (4,018 | ) |  | (371 | )
Goodwill impairment | — |  |  | (5,131 | ) |  | — |
Compensation | 3,369 |  |  | 7,376 |  |  | 1,817 |
Contingent liability settlement | — |  |  | 5,740 |  |  | (756 | )
Foreign | 117 |  |  | 2,840 |  |  | 10,268 |
Valuation allowance | 18,275 |  |  | 741,872 |  |  | 20,675 |
Tax Act - deferred rate change | — |  |  | (261,329 | ) |  | — |
Other miscellaneous items | 1,261 |  |  | 825 |  |  | 774 |
Total income tax benefit (expense) | $ | 3,593 |  |  | $ | 498,507 |  |  | $ | (11,307 | )
Reconciliation of unrecognized tax benefits | A reconciliation of the beginning and ending amounts for the liability for unrecognized tax benefits was as follows:
(in thousands) | Unrecognized tax benefits
Unrecognized tax benefits as of January 1, 2017 | $ | 26,792 |
Additions based on current year positions | 2,979 |
Additions based on prior year positions | 2,836 |
Decreases due to settlements and/or reduction in reserves | (1,322 | )
Currency translation adjustments | (119 | )
Settlement payments | (216 | )
Unrecognized tax benefits as of December 31, 2017 | 30,950 |
Additions based on current year positions | — |
Additions based on prior year positions | 775 |
Decreases due to settlements and/or reduction in reserves | (2,005 | )
Currency translation adjustments | (39 | )
Settlement payments | — |
Unrecognized tax benefits as of December 31, 2018 | $ | 29,681 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319 + Details
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