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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

The following table reconciles the income tax expense at statutory rates to the actual income tax expense recorded (in thousands):

			Year Ended December 31,
			2023						2022						2021
Income tax (expense) benefit at federal statutory income tax rate of 21%			$	(5,180)					$	(6,463)					$	(2,652)
State income tax (expense) benefit, net of U.S. federal income tax benefit			(258)						(1,961)						574
State and local income tax (expense) benefit on pass-through entity subsidiaries			(20)						(17)						(9)
Gross receipts and margin taxes			(52)						(69)						(26)
Benefit of USVI Economic Development Commission credit			1,511						3,358						3,346
Benefits of Puerto Rico tax incentives			2,064						1,474						—
Effect of permanent differences			(229)						—						—
Other			(46)						126						(251)
Valuation allowance			(479)						(491)						(2,306)
Total income tax (expense) benefit			$	(2,689)					$	(4,043)					$	(1,324)

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense are as follows (in thousands):

			Year Ended December 31,
			2023						2022						2021
Current:
Federal			$	(467)					$	(3,745)					$	(1,477)
State			(69)						(247)						(21)
Foreign			(824)						—						—
Total current income tax (expense) benefit			(1,360)						(3,992)						(1,498)
Deferred:
Federal			(14)						(51)						131
State			—						—						43
Foreign			(1,315)						—						—
Total deferred income tax (expense) benefit			(1,329)						(51)						174
Total income tax (expense) benefit			$	(2,689)					$	(4,043)					$	(1,324)

Schedule of Income before Income Tax, Domestic and Foreign

The following table presents the U.S. and foreign earnings (losses) from continuing operations before income taxes (in thousands):

			Year Ended December 31,
			2023						2022						2021
U.S.			$	(51,878)					$	(3,859)					$	(47,986)
Foreign			23,939						27,250						16,399
Total			$	(27,939)					$	23,391					$	(31,587)

Schedule of Deferred Tax Assets and Liabilities

At December 31, 2023 and 2022, our deferred tax asset (liability) and related valuation allowance consisted of the following (in thousands):

			December 31,
			2023						2022
Deferred tax assets:
Tax intangibles basis greater than book basis			$	722					$	722
Allowance for doubtful accounts			50						76
Unearned income			2,768						2,769
Federal and state net operating losses			15,967						16,452
Capital loss carryforward			511						525
Accrued expenses			761						1,133
Other			7						4
Total deferred tax asset			20,786						21,681
Valuation allowance			(16,169)						(18,627)
Net deferred tax asset			$	4,617					$	3,054
Deferred tax liabilities:
Other			$	(6)					$	(52)
Tax property basis greater/(less) than book basis			(5,932)						(2,935)
Prepaid expenses			—						(59)
Total deferred tax liability			(5,938)						(3,046)
Net deferred tax asset (liability)			$	(1,321)					$	8

Summary of Valuation Allowance

The following table summarizes the changes in the valuation allowance (in thousands):

			Year Ended December 31,
			2023						2022						2021
Balance at beginning of year			$	18,627					$	17,343					$	14,938
Additions			—						1,284						2,405
Deductions			(2,458)						—						—
Balance at end of year			$	16,169					$	18,627					$	17,343

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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.

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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.

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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.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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