XML 53 R35.htm IDEA: XBRL DOCUMENT v3.25.4

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Components of Income (Loss) Before Income Taxes

The components of income (loss) before income taxes were attributable to the following regions:

			Year Ended December 31,
			2025						2024						2023
Domestic			$	(226,480)					$	—					$	—
Foreign			13,441						—						—
			$	(213,039)					$	—					$	—

Schedule of Provision (Benefit) for Income Taxes

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

			Year Ended December 31,
			2025						2024						2023
Current:
Federal			$	—					$	—					$	—
State			620						931						(106)
Foreign			1,775						1,105						503
			2,395						2,036						397
Deferred:
Foreign			(13,112)						(634)						(1,895)
			(13,112)						(634)						(1,895)
			$	(10,717)					$	1,402					$	(1,498)

Schedule of Reconciliation of Effective Tax Rate and the U.S. Federal Statutory Income Tax Rate

The table below is a reconciliation of the statutory income tax rate to the effective tax rate for 2025, in accordance with the updated requirements of ASU No. 2023-09, Income Taxes (Topic 740): Improvement to Income Tax Disclosures. See Note 2 for additional details on the adoption of ASU No. 2023-09.

			December 31, 2025
			Amount						Percent
U.S. federal statutory tax rate			$	(44,738)					21.0		%
Nontaxable income for SVC			44,738						(21.0)		%
State and local income tax, net of federal income tax effects (1)			620						(0.3)		%
Foreign tax effects:
Puerto Rico			457						(0.2)		%
Canada			1,318						(0.6)		%
Foreign deferred			1,265						(0.6)		%
Foreign tax rate change			(14,377)						6.7		%
Effective tax rate			$	(10,717)					5.0		%

(1)    State taxes in Texas make up a majority (greater than 50%) of the tax effect in this category.

The following table reconciles the statutory income tax rate to the effective tax rate prior to the adoption of ASU 2023-09:

									Year Ended December 31,
									2024						2023
Taxes at statutory U.S. federal income tax rate									21.0		%				21.0		%
Nontaxable income of SVC									(21.0)		%				(21.0)		%
State and local income taxes, net of federal tax benefit									(0.3)		%				0.3		%
Foreign taxes									(0.2)		%				(6.9)		%
Foreign tax rate change									—		%				11.0		%
Effective tax rate									(0.5)		%				4.4		%

Schedule of Significant Components of Deferred Tax Assets and Liabilities

Significant components of our deferred tax assets and liabilities are as follows:

			As of December 31,
			2025						2024
Deferred tax assets:
Tax loss carryforwards			$	156,675					$	140,665
Other			13,703						12,782
Deferred tax assets			170,378						153,447
Valuation allowance			(170,378)						(152,676)
Net deferred tax assets			$	—					$	771
Deferred tax liabilities:
Property basis difference			$	(550)					$	(7,754)
Puerto Rico deferred tax gain			(1,837)						(8,073)
Other			—						(442)
Net deferred tax liabilities			$	(2,387)					$	(16,269)

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 S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 2: 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