XML 45 R31.htm IDEA: XBRL DOCUMENT v3.22.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

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

			Year Ended December 31,
			2021						2020						2019
Current - Federal			$	2,759					$	—					$	420
State			40						79						541
Foreign			—						7						49
			2,799						86						1,010
Deferred - Federal			5,190						(13,766)						80
State			(6,159)						(4,866)						132
Foreign			—						(32,819)						20,806
Change in valuation allowance			1,437						24,913						—
			468						(26,538)						21,018
Income tax provision (benefit)			$	3,267					$	(26,452)					$	22,028

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,
			2021						2020						2019
Statutory federal tax (benefit) provision (1)			$	(40,337)					$	(88,733)					$	43,313
Tax impact of REIT election			45,946						37,394						(14,125)
State income tax (benefit) provision, net of federal tax benefit			(6,119)						(3,782)						532
Foreign income tax expense (benefit)			—						3,618						(6,998)
Change in valuation allowance			1,437						24,913						—
Permanent differences			2,561						—						—
Other			(221)						138						(694)
Income tax provision (benefit)			$	3,267					$	(26,452)					$	22,028

_____________________________

(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):

			2021						2020
Federal
Net operating loss carryforwards			$	7,141					$	13,960
Deferred income			2,892						2,799
Other			408						24
Depreciation and amortization			(5,835)						(7,028)
Less: Valuation allowance			(4,678)						(9,166)
Federal - Deferred tax (liabilities) assets, net			$	(72)					$	589
State
Net operating loss carryforwards			$	11,312					$	5,639
Deferred income			729						712
Alternative minimum tax credit carryforwards			80						80
Other			118						7
Depreciation and amortization			(1,471)						(1,787)
Less: Valuation allowance			(10,238)						(4,313)
State - Deferred tax assets, net			$	530					$	338
Foreign (USVI)
Depreciation and amortization			$	—					$	12,134
Land basis recorded in purchase accounting			—						(2,617)
Less: Valuation allowance			—						(12,134)
Foreign - Deferred tax liabilities, net			$	—					$	(2,617)

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://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=121826272&loc=d3e32639-109319

+ 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

+ 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

+ Details

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