Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Taxes

Schedule of Deferred Tax Assets and Liabilities

Deferred income tax assets and liabilities as of December 31, 2020 and 2019 were as follows (in thousands):

	2020		2019
Gross deferred tax assets:
Net operating loss carryforwards	$	164,294	$	63,280
Basis difference - real estate property		748,411		9,955
Basis difference - intangibles		2,368		1,071
Straight-line rent		1,121		1,404
Other - temporary differences		60,840		17,624
Total gross deferred tax assets		977,034		93,334
Valuation allowance		(108,060)		(40,795)
Total deferred tax assets, net of valuation allowance		868,974		52,539
Gross deferred tax liabilities:
Basis difference - real estate property		1,338,612		162,095
Basis difference - equity investments		4,000		4,000
Basis difference - intangibles		246,950		1,547
Straight-line rent		6,884		8,044
Other - temporary differences		9,805		20,218
Total gross deferred tax liabilities		1,606,251		195,904
Net deferred tax liabilities	$	737,277	$	143,365