Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

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)	2024		2023		2022
Federal:
Current	$	122	$	(183)	$	(17)
Deferred	(3,617)		(7,590)		1,325
Total federal	(3,495)		(7,773)		1,308
State:
Current	(1,151)		(1,011)		251
Deferred (included in federal above)	—		—		—
Total state	(1,151)		(1,011)		251
Total	$	(4,646)	$	(8,784)	$	1,559

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)	2024		2023		2022
Tax benefit (provision) at U.S. statutory rate	$	41,431	$	37,848	$	50,397
State taxes, net of federal income tax	5,125		5,766		10,811
Valuation allowance	(47,345)		(49,109)		(57,080)
Convertible debt repurchase premium	(2,745)		—		—
Stock compensation	(83)		(1,312)		(181)
Other	(1,029)		(1,977)		(2,388)
Total	$	(4,646)	$	(8,784)	$	1,559

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)	2024		2023
Deferred income tax assets:
Operating loss carryforwards	$	426,454	$	392,577
Operating lease obligations	322,612		220,003
Tax credits	50,367		50,415
Accrued expenses	47,467		46,814
Financing lease obligations	29,524		—
Intangible Assets	17,103		26,816
Investment in unconsolidated ventures	3,322		3,268
Capital loss carryforward	—		2,102
Other	97		—
Total gross deferred income tax asset	896,946		741,995
Valuation allowance	(521,497)		(474,152)
Net deferred income tax assets	375,449		267,843
Deferred income tax liabilities:
Operating lease right-of-use assets	(284,594)		(168,398)
Property, plant and equipment	(100,459)		(92,580)
Financing lease obligations	—		(10,273)
Other	—		(2,579)
Total gross deferred income tax liability	(385,053)		(273,830)
Net deferred tax asset (liability)	$	(9,604)	$	(5,987)

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, 2022	$	367,963	$	57,080	(1)	$	425,043
December 31, 2023	$	425,043	$	49,109	(1)	$	474,152
December 31, 2024	$	474,152	$	47,345	(1)	$	521,497

(1) 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)	2024		2023
Balance at beginning of period	$	18,205	$	18,088
Additions for tax positions related to prior years	—		173
Reductions for tax positions related to prior years	(104)		(56)
Balance at end of period	$	18,101	$	18,205