Income Taxes

6 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes

Note 9. Income Taxes

Differences between the U.S. Federal statutory rate and the Company's effective tax rate for the three and six months ended June 30, 2024 and 2023 were as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2024			2023			2024			2023
U.S. Federal statutory rate	21%			21%			21%			21%
Income tax recovery using U.S. Federal statutory rate on loss before income taxes	$	13,928		$	26,413		$	18,772		$	33,959
Tax differential on foreign loss		3,482			4,957			2,895			6,275
Effect of foreign earnings (a)		(7,806	)		525			(7,806	)		—
Valuation allowance		7,767			(9,556	)		5,159			(14,119	)
Tax benefit of partnership structure		672			783			672			1,566
Non-taxable foreign subsidies		586			1,350			1,176			2,044
Non-deductible goodwill impairment		(10,239	)		—			(10,239	)		—
True-up of prior year taxes		(3,925	)		(409	)		(2,689	)		4,477
Annual effective tax rate adjustment		(6,000	)		5,000			(4,300	)		(4,000	)
Non-taxable portion of capital gain		—			—			1,460			—
Other, net		272			(1,584	)		2			2,633
Income tax recovery (provision)	$	(1,263	)	$	27,479		$	5,102		$	32,835
Comprised of:
Current income tax recovery (provision)	$	6,059		$	(6,626	)	$	(1,002	)	$	(11,214	)
Deferred income tax recovery (provision)		(7,322	)		34,105			6,104			44,049
Income tax recovery (provision)	$	(1,263	)	$	27,479		$	5,102		$	32,835

(a)Primarily relates to the impact of the global intangible low-taxed income provision in the Tax Cuts and Jobs Act of 2017.