Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Income before Income Tax, Domestic and Foreign

Following is a summary of the income/(loss) before income taxes in the U.S. and foreign operations:



	2018		2017			2016
	(In thousands)
U.S.	$	37,060	$	(11,212	)	$	(9,626	)
Foreign	7,306		19,997			20,437
Pre-tax income	$	44,366	$	8,785		$	10,811

Schedule of Components of Income Tax Expense (Benefit)

The benefit (expense) for income taxes for the years ended December 31, 2018, 2017 and 2016 is as follows:



	2018			2017			2016
	(In thousands)
Current
U.S. federal	$	4,424		$	(4,848	)	$	430
State	(353		)	(644		)	381
Foreign	(3,604		)	(7,559		)	(7,276		)
Total current portion	467			(13,051		)	(6,465		)

Deferred
U.S. federal	2,094			2,277			(797		)
State	494			(72		)	(64		)
Foreign	564			1,453			1,447
Total deferred portion	3,152			3,658			586
Income tax benefit (expense)	$	3,619		$	(9,393	)	$	(5,879	)

Schedule of Effective Income Tax Rate Reconciliation

. The reconciliation between the statutory rate and reported amount is as follows:



	2018			2017			2016
	(In thousands)
Income taxes at statutory rates	$	(9,317	)	$	(2,987	)	$	(3,676	)
Earnings from REIT - not subject to tax	9,015			(425		)	(672		)
State income taxes, net of federal income tax benefit	(187		)	(445		)	615
Provision to return	360			(205		)	(416		)
Rate and permanent differences on non-U.S. earnings	(1,228		)	668			1,739
Valuation allowance	(2,227		)	2,950			(1,542		)
Non-deductible expenses	4,021			(2,345		)	(873		)
Change in uncertain tax positions	347			94			564
Amended returns/refunds	—			—			360
Effect of Tax Cuts and Jobs Act	3,797			(3,113		)	—
Quarry tax basis in land	—			—			(3,025		)
Investment in foreign subsidiary	—			—			616
REIT excise tax	—			(4,772		)	—
Other	(962		)	1,187			431
Total	$	3,619		$	(9,393	)	$	(5,879	)

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to deferred tax assets and deferred tax liabilities as of December 31, 2018 and 2017 are as follows:



	2018			2017
	(In thousands)
Deferred tax assets:
Net operating loss and credits carryforwards	$	14,062		$	6,592
Accrued expenses	25,889			26,263
Stock-based compensation	4,709			3,511
Other assets	241			356
Total gross deferred tax assets	44,901			36,722
Less: valuation allowance	(19,627		)	(15,910		)
Total net deferred tax assets	25,274			20,812

Deferred tax liabilities:
Intangible assets and goodwill	(5,628		)	(5,197		)
Property, plant, and equipment	(35,672		)	(34,758		)
Other liabilities	(1,144		)	(1,495		)
Total gross deferred tax liabilities	(42,444		)	(41,450		)
Net deferred tax liability	$	(17,170	)	$	(20,638	)

Schedule of Unrecognized Tax Benefits Roll Forward

The following table summarizes the activity related to our gross unrecognized tax benefits for the years ended December 31, 2018, 2017 and 2016:



	Tax			Interest			Penalties			Total
	(In thousands)
Balance at December 31, 2015*	$	1,514		$	104		$	27		$	1,645
Increases related to current-year tax positions	—			21			—			21
Decreases due to lapse in statute of limitations	(657		)	(106		)	(19		)	(782		)
Balance at December 31, 2016*	857			19			8			884
Increases related to current-year tax positions	—			3			—			3
Decreases related to prior-year tax positions	—			(4		)	(8		)	(12		)
Decreases due to lapse in statute of limitations	(73		)	(12		)	—			(85		)
Balance at December 31, 2017*	784			6			—			790
Decreases due to lapse in statute of limitations	(353		)	(6		)	—			(359		)
Balance at December 31, 2018*	$	431		$	0		$	—		$	431

*Balance would favorably affect the Company’s effective tax rate if recognized.