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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | The benefit (provision) for income taxes is comprised of the following.
| For the Years Ended December 31,
(in thousands) | 2022 |  | 2021 |  | 2020
Federal: |  |  |  |  |
Current | $ | (17) |  |  | $ | 161 |  |  | $ | 55 |
Deferred | 1,325 |  |  | 9,837 |  |  | 5,840 |
Total federal | 1,308 |  |  | 9,998 |  |  | 5,895 |
State: |  |  |  |  |
Current | 251 |  |  | (1,835) |  |  | (11,247) |
Deferred (included in federal above) | — |  |  | — |  |  | — |
Total state | 251 |  |  | (1,835) |  |  | (11,247) |
Total | $ | 1,559 |  |  | $ | 8,163 |  |  | $ | (5,352) |
Reconciliation of Income Tax Expense (Benefit) | A reconciliation of the benefit (provision) for income taxes to the amount computed at the U.S. Federal statutory rate of 21% is as follows.
| For the Years Ended December 31,
(in thousands) | 2022 |  | 2021 |  | 2020
Tax benefit (provision) at U.S. statutory rate | $ | 50,397 |  |  | $ | 22,565 |  |  | $ | (18,348) |
State taxes, net of federal income tax | 10,811 |  |  | 7,673 |  |  | (11,909) |
Valuation allowance | (57,080) |  |  | 13,027 |  |  | 27,913 |
Goodwill derecognition | — |  |  | (31,829) |  |  | — |
Stock compensation | (181) |  |  | (1,856) |  |  | (2,118) |
Other | (2,388) |  |  | (1,417) |  |  | (890) |
Total | $ | 1,559 |  |  | $ | 8,163 |  |  | $ | (5,352) |
Schedule of Deferred Tax Assets and Liabilities | Significant components of the Company's deferred tax assets and liabilities are as follows.
| As of December 31,
(in thousands) | 2022 |  | 2021
Deferred income tax assets: |  |  |
Operating loss carryforwards | $ | 361,160 |  |  | $ | 281,384 |
Operating lease obligations | 199,226 |  |  | 208,460 |
Tax credits | 50,415 |  |  | 50,415 |
Accrued expenses | 42,828 |  |  | 56,151 |
Intangible assets | 39,360 |  |  | 50,576 |
Financing lease obligations | 12,749 |  |  | 87,992 |
Capital loss carryforward | 2,140 |  |  | 2,205 |
Other | 3,091 |  |  | 6,450 |
Total gross deferred income tax asset | 710,969 |  |  | 743,633 |
Valuation allowance | (425,043) |  |  | (367,963) |
Net deferred income tax assets | 285,926 |  |  | 375,670 |
Deferred income tax liabilities: |  |  |
Operating lease right-of-use assets | (149,881) |  |  | (158,237) |
Property, plant and equipment | (122,377) |  |  | (202,103) |
Investment in unconsolidated ventures | (12,064) |  |  | (15,051) |
Total gross deferred income tax liability | (284,322) |  |  | (375,391) |
Net deferred tax asset (liability) | $ | 1,604 |  |  | $ | 279 |
A reconciliation of the beginning and ending amounts of the deferred tax valuation allowance is as follows:
|  |  |  | Additions |  |  |  |
Year Ended |  | Balance at beginning of period |  | Charged to costs and expenses |  | Charged to other accounts |  | Deductions |  | Balance at end of period
December 31, 2020 |  | $ | 408,903 |  |  | $ | (27,913) |  | (1) | $ | — |  |  | $ | — |  |  | $ | 380,990 |
December 31, 2021 |  | $ | 380,990 |  |  | $ | (13,027) |  | (2) | $ | — |  |  | $ | — |  |  | $ | 367,963 |
December 31, 2022 |  | $ | 367,963 |  |  | $ | 57,080 |  | (3) | $ | — |  |  | $ | — |  |  | $ | 425,043 |
(1) Reduction of valuation allowance for federal and state net operating losses. (2) Reduction of valuation allowance for federal and state net operating losses and credits. (3) Increase to valuation allowance for federal and state net operating losses and credits.
Reconciliation of Unrecognized Tax Benefits | A reconciliation of the unrecognized tax benefits is as follows.
| For the Years Ended December 31,
(in thousands) | 2022 |  | 2021
Balance at beginning of period | $ | 18,089 |  |  | $ | 18,385 |
Additions for tax positions related to the current year | — |  |  | — |
Reductions for tax positions related to prior years | (1) |  |  | (296) |
Balance at end of period | $ | 18,088 |  |  | $ | 18,089 |

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