Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Taxes

Schedule of Deferred Tax Assets and Liabilities

Deferred income tax assets and liabilities as of December 31, 2024 and 2023 were as follows (in thousands):

	2024		2023
Gross deferred income tax assets:
Net operating loss carryforwards	$	197,039	$	188,735
Basis difference - real estate property		17,363		18,035
Basis difference - intangibles		12,561		7,744
Tax credit carryforward		2,407		2,056
Other - temporary differences		237,342		180,316
Total gross deferred income tax assets		466,711		396,886
Valuation allowance		(213,984)		(176,268)
Total deferred income tax assets, net of valuation allowance		252,728		220,618
Gross deferred income tax liabilities:
Basis difference - real estate property		1,138,120		1,162,143
Basis difference - intangibles		175,267		190,607
Straight line rent		9,970		5,992
Other - temporary differences		10,466		6,750
Total gross deferred income tax liabilities		1,333,822		1,365,492
Net deferred income tax liabilities(1)	$	1,081,094	$	1,144,874

(1) Net of deferred tax assets of $3.5 million and $6.2 million for the years ended December 31, 2024 and 2023,

respectively.