Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Sources of income from continuing operations before income taxes

The sources of income from continuing operations before income taxes and earnings of unconsolidated equity method investment for the years ended December 31, 2017, 2016 and 2015 were as follows:



	Year Ended December 31,
	2017		2016		2015
U.S. operations	$	2,801	$	2,230	$	2,433
Non-U.S. operations	143,504		154,275		125,810
Income from continuing operations before income taxes and earnings of unconsolidated equity method investment	$	146,305	$	156,505	$	128,243

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The components of the income tax provision from continuing operations for the year ended December 31, 2017, 2016 and 2015 consisted of the following:



	Year Ended December 31,
	2017			2016			2015
Current:
United States:
Federal	$	6,503		$	2,004		$	4,167
State	1,913			587			994
Non-U.S.	6,574			3,560			14,499
Current income tax provision	14,990			6,151			19,660
Deferred:
United States:
Federal	(5,474		)	1,350			829
State	(1,161		)	(157		)	57
Non-U.S.	(2,313		)	4,963			(7,775		)
Deferred income tax provision (benefit)	(8,948		)	6,156			(6,889		)
Total	$	6,042		$	12,307		$	12,771

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Significant components of the Company’s deferred tax assets and liabilities at December 31, 2017, 2016 and 2015 consisted of the following:



	Year Ended December 31,
	2017			2016			2015
Deferred tax assets:
Non-cash share-based payments	$	1,899		$	2,183		$	1,483
Net operating loss carry forwards	22,804			47,538			52,007
Other	1,272			1,902			761
Total deferred tax assets	25,975			51,623			54,251
Deferred tax liabilities:
Accelerated depreciation	(62,379		)	(92,734		)	(87,716		)
Other	354			(1,227		)	(442		)
Total deferred tax liabilities	(62,025		)	(93,961		)	(88,158		)
Net deferred tax liabilities	$	(36,050	)	$	(42,338	)	$	(33,907	)

Analysis of effective income tax rate for continuing operations

Differences between statutory income tax rates and our effective income tax rates applied to pre-tax income from continuing operations at December 31, 2017, 2016 and 2015 consisted of the following:



	Year Ended December 31,
	2017			2016			2015
Notional U.S. federal income tax expense at the statutory rate:	$	51,207		$	54,777		$	44,885
U.S. state and local income tax, net	168			182			221
Non-U.S. operations:
Bermuda	(21,517		)	(31,250		)	(20,789		)
Ireland	(2,348		)	(276		)	(3,073		)
Singapore	(15,839		)	(7,519		)	(5,650		)
Other low tax jurisdictions	(5,581		)	(3,877		)	(3,395		)
Non-deductible expenses in the U.S.	(236		)	525			737
Other	188			(255		)	(165		)
Provision for income taxes	$	6,042		$	12,307		$	12,771