Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense Reported

The income tax expense reported differs from the amount computed by applying the statutory rate to loss before income taxes for the following reasons:

	Year Ended December 31,
(Thousands of U.S. Dollars)	2019			2018			2017
Income (loss) before income taxes
United States	$	(27,984	)	$	(14,610	)	$	(51,215	)
Foreign	123,959			166,097			88,545
	95,975			151,487			37,330
Statutory rate (1)	33		%	37		%	35		%
Income tax expense expected	31,672			56,050			13,066
Impact of foreign taxes	9,387			7,011			12,310
Foreign currency translation	11,527			10,336			(118		)
Other local taxes	504			524			1,056
Stock-based compensation	430			324			2,001
Change in valuation allowance	3,429			(21,954		)	52,269
Non-deductible third party royalty in Colombia	2,240			3,194			3,194
Other permanent differences	(1,904		)	(6,614		)	(14,740		)
Total income tax expense	$	57,285		$	48,871		$	69,038
Effective tax rate	60		%	32		%	185		%
Current income tax expense
United States	$	—		$	—		$	3,457
Foreign	17,058			43,903			20,865
	17,058			43,903			24,322
Deferred income tax expense
Foreign	40,227			4,968			44,716
Total income tax expense	$	57,285		$	48,871		$	69,038

⁽¹⁾ The tax rate in 2019 and 2018 is the statutory rate in Colombia. The tax rate in 2017 is the statutory rate in the U.S.

Schedule of Deferred Tax Assets and Liabilities

	As at December 31,
(Thousands of U.S. Dollars)	2019			2018
Deferred tax assets
Tax benefit of operating loss carryforwards	$	73,096		$	51,042
Tax basis in excess of book basis	544			8,854
Foreign tax credits and other accruals	76,720			79,820
Tax benefit of capital loss carryforwards	22,710			32,737
Deferred tax assets before valuation allowance	173,070			172,453
Valuation allowance	(129,067		)	(127,016		)
	44,003			45,437
Deferred tax liabilities	59,762			23,419
Net deferred tax (liabilities) assets	$	(15,759	)	$	22,018