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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Our provision for income taxes consists of the following (in thousands):

	Year Ended December 31,
	2017				2016				2015
Current - Federal	$	622			$	—			$	—
State	1,221				1,297				770
Foreign	662				697				515
	2,505				1,994				1,285
Deferred - Federal	6,432				9,779				8,249
State	425				1,324				2,315
Foreign	845				(698		)		(274		)
	7,702				10,405				10,290
Income tax provision	$	10,207			$	12,399			$	11,575

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the statutory federal tax provision to our income tax provision is as follows (in thousands):

	Year Ended December 31,
	2017				2016				2015
Statutory federal tax provision (35)%	$	35,729			$	44,518			$	34,272
Tax impact of REIT election	(22,277		)		(31,101		)		(21,544		)
State income tax provision, net of federal tax benefit	1,652				1,703				1,745
Foreign income tax benefit	(430		)		(3,080		)		(2,266		)
Tax reform impact on U.S. taxes	(2,143		)		—				—
Tax reform impact on foreign taxes	(2,076		)		—				—
Other	(248		)		359				(632		)
Income tax provision	$	10,207			$	12,399			$	11,575

Schedule of Deferred Tax Assets and Liabilities

The total deferred tax assets and liabilities are as follows (in thousands):

	2017				2016
Federal
Net operating loss carryforwards	$	3,099			$	12,629
Deferred income related to key money	2,549				5,313
Alternative minimum tax credit carryforwards	169				—
Other	355				296
Depreciation and amortization	(8,889		)		(14,535		)
Federal - Deferred tax (liabilities) assets, net	$	(2,717	)		$	3,703
State
Net operating loss carryforwards	$	3,126			$	3,021
Deferred income related to key money	801				816
Alternative minimum tax credit carryforwards	81				71
Other	111				45
Depreciation and amortization	(2,803		)		(2,231		)
Less: Valuation allowance	(400		)		(400		)
State - Deferred tax assets, net	$	916			$	1,322
Foreign (USVI)
Deferred income related to key money	$	95			$	1,278
Depreciation and amortization	(796		)		508
Other	1				2
Land basis recorded in purchase accounting	(2,617		)		(4,260		)
Foreign - Deferred tax liabilities, net	$	(3,317	)		$	(2,472	)

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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://www.xbrl.org/2003/role/presentationRef
-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

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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/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

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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=84230637&loc=d3e32687-109319

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