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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
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,
| 2019 |  | 2018 |  | 2017
Current - Federal | $ | 420 |  |  | $ | 66 |  |  | $ | 622 |
State | 541 |  |  | 984 |  |  | 1,221 |
Foreign | 49 |  |  | 460 |  |  | 662 |
| 1,010 |  |  | 1,510 |  |  | 2,505 |
Deferred - Federal | 80 |  |  | 1,857 |  |  | 6,432 |
State | 132 |  |  | 178 |  |  | 425 |
Foreign | 20,806 |  |  | (444 | ) |  | 845 |
| 21,018 |  |  | 1,591 |  |  | 7,702 |
Income tax provision | $ | 22,028 |  |  | $ | 3,101 |  |  | $ | 10,207 |
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,
| 2019 |  | 2018 |  | 2017
Statutory federal tax provision (1) | $ | 43,313 |  |  | $ | 19,089 |  |  | $ | 35,729 |
Tax impact of REIT election | (14,125 | ) |  | (14,439 | ) |  | (22,277 | )
State income tax provision, net of federal tax benefit | 532 |  |  | 705 |  |  | 1,652 |
Foreign income tax benefit | (6,998 | ) |  | (2,927 | ) |  | (430 | )
Tax reform impact on U.S. taxes | — |  |  | — |  |  | (2,143 | )
Tax reform impact on foreign taxes | — |  |  | — |  |  | (2,076 | )
Other | (694 | ) |  | 673 |  |  | (248 | )
Income tax provision | $ | 22,028 |  |  | $ | 3,101 |  |  | $ | 10,207 |
_____________________________ (1) Beginning January 1, 2018, the U.S. federal income tax rate decreased from 35% to 21%.
Schedule of Deferred Tax Assets and Liabilities | The total deferred tax assets and liabilities are as follows (in thousands):
| 2019 |  | 2018
Federal |  |  |
Net operating loss carryforwards | $ | — |  |  | $ | 1,983 |
Deferred income related to key money | 2,382 |  |  | 2,465 |
Alternative minimum tax credit carryforwards | — |  |  | 103 |
Other | 529 |  |  | 326 |
Depreciation and amortization | (7,928 | ) |  | (9,188 | )
Federal - Deferred tax (liabilities) assets, net | $ | (5,017 | ) |  | $ | (4,311 | )
State |  |  |
Net operating loss carryforwards | $ | 2,572 |  |  | $ | 2,975 |
Deferred income related to key money | 735 |  |  | 780 |
Alternative minimum tax credit carryforwards | 80 |  |  | 80 |
Other | 167 |  |  | 103 |
Depreciation and amortization | (2,446 | ) |  | (2,906 | )
Less: Valuation allowance | (700 | ) |  | (700 | )
State - Deferred tax assets, net | $ | 408 |  |  | $ | 332 |
Foreign (USVI) |  |  |
Deferred income related to key money | $ | — |  |  | $ | — |
Depreciation and amortization | (21,060 | ) |  | (255 | )
Other | — |  |  | — |
Land basis recorded in purchase accounting | (2,617 | ) |  | (2,617 | )
Foreign - Deferred tax liabilities, net | $ | (23,677 | ) |  | $ | (2,872 | )

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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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