Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The benefit (provision) for income taxes is comprised of the following.

	For the Years Ended December 31,
(in thousands)	2021		2020		2019
Federal:
Current	$	161	$	55	$	64
Deferred	9,837		5,840		2,654
Total federal	9,998		5,895		2,718
State:
Current	(1,835)		(11,247)		(449)
Deferred (included in federal above)	—		—		—
Total state	(1,835)		(11,247)		(449)
Total	$	8,163	$	(5,352)	$	2,269

Reconciliation of Income Tax Expense (Benefit)

A reconciliation of the benefit (provision) for income taxes to the amount computed at the U.S. Federal statutory rate of 21% is as follows.

	For the Years Ended December 31,
(in thousands)	2021		2020		2019
Tax benefit (provision) at U.S. statutory rate	$	22,565	$	(18,348)	$	56,742
State taxes, net of federal income tax	7,673		(11,909)		10,423
Valuation allowance	13,027		27,913		(60,376)
Goodwill derecognition	(31,829)		—		—
Stock compensation	(1,856)		(2,118)		(2,639)
Officer compensation	(1,107)		(280)		(204)
Meals and entertainment	(146)		(169)		(416)
Other	(164)		(441)		(1,261)
Total	$	8,163	$	(5,352)	$	2,269

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company's deferred tax assets and liabilities are as follows.

	As of December 31,
(in thousands)	2021		2020
Deferred income tax assets:
Operating loss carryforwards	$	281,384	$	237,728
Operating lease obligations	208,460		322,122
Financing lease obligations	87,992		90,011
Accrued expenses	56,151		96,410
Intangible assets	50,576		60,069
Tax credits	50,415		50,356
Investment in unconsolidated ventures	—		5,105
Capital loss carryforward	2,205		2,263
Other	6,450		8,561
Total gross deferred income tax asset	743,633		872,625
Valuation allowance	(367,963)		(380,990)
Net deferred income tax assets	375,670		491,635
Deferred income tax liabilities:
Property, plant and equipment	(202,103)		(223,703)
Operating lease right-of-use assets	(158,237)		(277,489)
Investment in unconsolidated ventures	(15,051)		—
Total gross deferred income tax liability	(375,391)		(501,192)
Net deferred tax asset (liability)	$	279	$	(9,557)

Reconciliation of Unrecognized Tax Benefits

A reconciliation of the unrecognized tax benefits is as follows.

	For the Years Ended December 31,
(in thousands)	2021		2020
Balance at beginning of period	$	18,385	$	18,326
Additions for tax positions related to the current year	—		—
Additions (reductions) for tax positions related to prior years	(296)		59
Balance at end of period	$	18,089	$	18,385