Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

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)	2023		2022		2021
Federal:
Current	$	(183)	$	(17)	$	161
Deferred	(7,590)		1,325		9,837
Total federal	(7,773)		1,308		9,998
State:
Current	(1,011)		251		(1,835)
Deferred (included in federal above)	—		—		—
Total state	(1,011)		251		(1,835)
Total	$	(8,784)	$	1,559	$	8,163

Schedule of 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)	2023		2022		2021
Tax benefit (provision) at U.S. statutory rate	$	37,848	$	50,397	$	22,565
State taxes, net of federal income tax	5,766		10,811		7,673
Valuation allowance	(49,109)		(57,080)		13,027
Goodwill derecognition	—		—		(31,829)
Stock compensation	(1,312)		(181)		(1,856)
Other	(1,977)		(2,388)		(1,417)
Total	$	(8,784)	$	1,559	$	8,163

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)	2023		2022
Deferred income tax assets:
Operating loss carryforwards	$	392,577	$	361,160
Operating lease obligations	220,003		199,226
Tax credits	50,415		50,415
Accrued expenses	46,814		42,828
Intangible assets	26,816		39,360
Financing lease obligations	—		12,749
Capital loss carryforward	2,102		2,140
Other	3,268		3,091
Total gross deferred income tax asset	741,995		710,969
Valuation allowance	(474,152)		(425,043)
Net deferred income tax assets	267,843		285,926
Deferred income tax liabilities:
Operating lease right-of-use assets	(168,398)		(149,881)
Property, plant and equipment	(92,580)		(122,377)
Investment in unconsolidated ventures	—		(12,064)
Financing lease obligations	(10,273)		—
Other	(2,579)		—
Total gross deferred income tax liability	(273,830)		(284,322)
Net deferred tax asset (liability)	$	(5,987)	$	1,604

A reconciliation of the beginning and ending amounts of the deferred tax valuation allowance is as follows:

Year Ended	Balance at beginning of period		Charged to deferred income tax (benefit) provision			Balance at end of period
December 31, 2021	$	380,990	$	(13,027)	(1)	$	367,963
December 31, 2022	$	367,963	$	57,080	(2)	$	425,043
December 31, 2023	$	425,043	$	49,109	(2)	$	474,152

(1) Reduction of valuation allowance for federal and state net operating losses and credits.

(2) Increase to valuation allowance for federal and state net operating losses and credits.

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of the unrecognized tax benefits is as follows.

	For the Years Ended December 31,
(in thousands)	2023		2022
Balance at beginning of period	$	18,088	$	18,089
Additions for tax positions related to prior years	173		—
Reductions for tax positions related to prior years	(56)		(1)
Balance at end of period	$	18,205	$	18,088