INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2016

Components of Income Tax Benefit (Provision)

The components of the income tax benefit (provision) as it relates to our taxable income (loss) from domestic and foreign TRSs during the years ended December 31, 2016, 2015 and 2014 were as follows:

	For the Year Ended December 31, 2016
	Federal			State and Local			Foreign		Total
Current benefit (provision)	$	(9	)	$	(329	)	$	—	$	(338	)
Deferred benefit (provision)		(2,127	)		(85	)		—		(2,212	)
Income tax benefit (provision)	$	(2,136	)	$	(414	)	$	—	$	(2,550	)

	For the Year Ended December 31, 2015
	Federal			State and Local			Foreign		Total
Current benefit (provision)	$	(268	)	$	(46	)	$	—	$	(314	)
Deferred benefit (provision)		(2,110	)		(374	)		—		(2,484	)
Income tax benefit (provision)	$	(2,378	)	$	(420	)	$	—	$	(2,798	)

	For the Year Ended December 31, 2014
	Federal			State and Local			Foreign		Total
Current benefit (provision)	$	(110	)	$	(69	)	$	—	$	(179	)
Deferred benefit (provision)		2,438			(112	)		—		2,326
Income tax benefit (provision)	$	2,328		$	(181	)	$	—	$	2,147

Reconciliation of Income Tax Benefit (Provision) based upon Statutory Tax Rates to Effective Rates

A reconciliation of the income tax benefit (provision) based upon the statutory tax rates to the effective rates of our taxable REIT subsidiaries is as follows for the years ended December 31, 2016, 2015 and 2014:

	For the Years Ended December 31
	2016			2015			2014
Federal statutory rate	$	(8,530	)	$	(1,718	)	$	3,171
State statutory, net of federal benefit		(299	)		(404	)		(157	)
Change in federal valuation allowance		5,670			(55	)		986
Permanent items		(54	)		(41	)		(82	)
Penalties associated with SEC settlement		—			—			(1,750	)
Provision to return adjustments		207			(580	)		(21	)
Other		456			—			—
Income tax benefit (provision)	$	(2,550	)	$	(2,798	)	$	2,147

Components of Deferred Tax Assets (Liabilities)

Significant components of our deferred tax assets (liabilities), at our TRSs, are as follows as of December 31, 2016 and 2015:

Deferred tax assets (liabilities):	As of December 31, 2016			As of December 31, 2015
Net operating losses, at TRSs	$	13,899		$	14,432
Capital losses		8,498			18,604
Unrealized losses		—			—
Other		595			1,056
Total deferred tax assets		22,992			34,092
Valuation allowance		(22,683	)		(27,431	)
Net deferred tax assets	$	309		$	6,661
Identified intangibles		(276	)		(3,838	)
Advances		—			(517	)
Accrued interest		—			—
Other		(156	)		(217	)
Deferred tax (liabilities)		(432	)		(4,572	)
Net deferred tax assets (liabilities)	$	(123	)	$	2,089