XML 178 R30.htm IDEA: XBRL DOCUMENT v3.25.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Summary of Domestic and International Components of Income (Loss) Before Income Taxes

The domestic and international components of income (loss) before income taxes are presented for the years ended December 31, 2024, 2023, and 2022 (in thousands):

		For the year ended
		2024				2023				2022
Domestic		$	(3,917	)		$	6,993			$	20,546
Foreign			(486	)			2,058				568
Income (loss) before income taxes		$	(4,403	)		$	9,051			$	21,114

Summary of the Company's Income Tax Expense (Benefit)

The following is a summary of our income tax expense (benefit) for the years ended December 31, 2024, 2023, and 2022 (in thousands):

		For the year ended December 31, 2024
		Federal				State				Canadian				Total
Current		$	18			$	41			$	580			$	639
Deferred			258				4				583				845
Total		$	276			$	45			$	1,163			$	1,484
		For the year ended December 31, 2023
		Federal				State				Canadian				Total
Current		$	191			$	33			$	480			$	704
Deferred			(10	)			(2	)			(3,288	)			(3,300	)
Total		$	181			$	31			$	(2,808	)		$	(2,596	)
		For the year ended December 31, 2022
		Federal				State				Canadian				Total
Current		$	171			$	27			$	321			$	519
Deferred			(499	)			(76	)			(499	)			(1,074	)
Total		$	(328	)		$	(49	)		$	(178	)		$	(555	)

Schedule of Income Tax Expense (Benefit) Reconciled to the Hypothetical Amounts Computed at the U.S. Federal Statutory Income Tax Rate

Income tax expense (benefit) is reconciled to the hypothetical amounts computed at the U.S. federal statutory income tax rate for the years ended December 31, 2024, 2023, and 2022 (in thousands):

		Year Ended December 31, 2024				Rate
Expected tax (benefit) at statutory rate		$	(925	)			21.0	%
Non-taxable REIT (income) loss			1,134				-25.7	%
State and local income tax expense - net of federal benefit			36				-0.8	%
Foreign income taxed at different rates			(12	)			0.3	%
Change in valuation allowance			1,223				-27.8	%
Other			28				-0.7	%
Total income tax expense (benefit)		$	1,484				-33.7	%

		Year Ended December 31, 2023				Rate
Expected tax at statutory rate		$	1,901				21.0	%
Non-taxable REIT (income) loss			(1,243	)			-13.7	%
State and local income tax expense—net of federal benefit			25				0.3	%
Foreign income taxed at different rates			131				1.5	%
Change in valuation allowance			(3,410	)			-37.7	%
Total income tax expense (benefit)		$	(2,596	)			-28.7	%
		Year Ended December 31, 2022				Rate
Expected tax at statutory rate		$	4,434				21.0	%
Non-taxable REIT (income) loss			(4,611	)			-21.8	%
State and local income tax expense—net of federal benefit			(39	)			-0.2	%
Foreign income taxed at different rates			48				0.2	%
Change in valuation allowance			(417	)			-2.0	%
Other			30				0.1	%
Total income tax expense (benefit)		$	(555	)			-2.6	%

Schedule of Deferred Tax Assets and Liabilities

The major sources of temporary differences that give rise to the deferred tax effects are shown below (in thousands):

		December 31, 2024				December 31, 2023
Deferred tax liabilities:
Intangible contract assets		$	(6	)		$	(18	)
Canadian real estate			(9,163	)			(9,887	)
Total deferred tax liability			(9,169	)			(9,905	)
Deferred tax assets:
Other			1,687				1,267
Canadian real estate and non-capital losses			7,729				7,561
Total deferred tax assets			9,416				8,828
Valuation allowance			(1,891	)			(667	)
Net deferred tax liabilities		$	(1,644	)		$	(1,744	)

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration