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Income Taxes Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Income before Income Tax, Domestic and Foreign

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


	2020		2019		2018
	(In thousands)
U.S.	$	5,673	$	33,417	$	37,060
Foreign	11,955		9,588		7,306
Pre-tax income	$	17,628	$	43,005	$	44,366

Schedule of Components of Income Tax Expense (Benefit)

The benefit (expense) for income taxes for the years ended December 31, 2020, 2019 and 2018 is as follows:


	2020		2019		2018
	(In thousands)
Current
U.S. federal	$	1,085	$	(20)	$	4,424
State	(447)		(670)		(353)
Foreign	(7,443)		(4,854)		(3,604)
Total current portion	(6,805)		(5,544)		467

Deferred
U.S. federal	8,588		7,701		2,094
State	2,929		2,217		494
Foreign	2,215		783		564
Total deferred portion	13,732		10,701		3,152
Total income tax benefit	$	6,927	$	5,157	$	3,619

Schedule of Effective Income Tax Rate Reconciliation

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


	2020		2019		2018
	(In thousands)
Income taxes at statutory rates	$	(3,702)	$	(9,031)	$	(9,317)
Earnings from REIT - not subject to tax	2,681		9,526		9,015
State income taxes, net of federal income tax benefit	(446)		(542)		(187)
Provision to return	(4)		2		360
Rate and permanent differences on non-U.S. earnings	(1,175)		(971)		(1,228)
Change in valuation allowance	9,506		2,761		(2,227)
Non-deductible expenses	387		3,462		4,021
Change in uncertain tax positions			(367)		347
Income withholding tax	(1,191)		(212)		(301)
Effect of Tax Cuts and Jobs Act	—		—		3,797

Other	871		529		(661)
Total	$	6,927	$	5,157	$	3,619

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, 2020 and 2019 are as follows:


	2020		2019
	(In thousands)
Deferred tax assets:
Net operating loss and credits carryforwards	$	21,347	$	11,806
Accrued expenses	28,707		26,911
Share-based compensation	6,042		4,618
Lease obligations	10,382		9,674
Other assets	1,361		4,420
Total gross deferred tax assets	67,839		57,429
Less: valuation allowance	(9,158)		(16,043)
Total net deferred tax assets	58,681		41,386

Deferred tax liabilities:
Intangible assets and goodwill	(80,015)		(8,739)
Property, buildings and equipment	(187,114)		(38,358)
Lease right-of-use assets	(10,301)		(9,674)
Other liabilities	(927)		(1,316)
Total gross deferred tax liabilities	(278,357)		(58,087)
Net deferred tax liability	$	(219,676)	$	(16,701)

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, 2020, 2019 and 2018:


	Tax		Interest		Penalties		Total
	(In thousands)
Balance at December 31, 2018*	$	431	$	—	$	—	$	431
Increase related to current-year tax positions	367		—		—		367
Decreases due to lapse in statute of limitations	(431)		—		—		(431)
Balance at December 31, 2019*	367		—		—		367

Decreases due to settlement with tax authority	(211)						(211)

Balance at December 31, 2020*	$	156	$	—	$	—	$	156

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