Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Consolidated Income (Loss) From Continuing Operations

Our consolidated income from continuing operations before income taxes was generated in the following jurisdictions (in thousands):

	Year Ended December 31,
	2015		2014		2013
U.S.	$	46,728	$	39,231	$	40,002
Foreign	29,618		59,340		8,497
Consolidated	$	76,346	$	98,571	$	48,499

Summary of Income Tax Expense (Benefit)

The following table summarizes income tax provision (benefit) from continuing operations by jurisdiction (in thousands):

	Year Ended December 31,
	2015		2014			2013
Current income tax provision:
Foreign	$	4,301	$	10,430		$	15,546
U.S. federal	—		(195		)	2,067
U.S. state	32		132			1,435
	4,333		10,367			19,048
Deferred income tax provision (benefit):
Foreign	4,747		2,024			(10,222		)
U.S. federal	21,865		30,074			(23,756		)
U.S. state	2,585		4,048			(2,324		)
	29,197		36,146			(36,302		)
Provision (benefit) for income taxes	$	33,530	$	46,513		$	(17,254	)

Reconciliation of Income Tax Provision (Benefit)

The following table reconciles income tax provision at the U.S. federal statutory rate to the consolidated provision (benefit) for income taxes (in thousands):

	Year Ended December 31,
	2015			2014			2013
Income from continuing operations before income taxes	$	76,346		$	98,571		$	48,499
U.S. federal statutory rate	35		%	35		%	35		%
Provision at statutory rate	26,721			34,500			16,975
State income taxes—net of federal benefit	1,701			3,197			(577		)
Effect of rates other than statutory	(2,306		)	(1,925		)	(1,041		)
Effect of U.S. taxation on foreign branches	10,366			20,769			2,974
Foreign tax adjustment, prior years	7			(3,669		)	4,533
Warrants	—			4,698			24,625
Noncontrolling interest	(4,373		)	(7,986		)	(6,096		)
Foreign tax credit and offset to branch deferreds	(1,740		)	6,851			(2,876		)
Impact of valuation allowance on deferred tax assets	1,740			(7,331		)	(53,218		)
Foreign net gain on subsidiary dissolution and debt waivers	—			(13,620		)	—
Foreign withholding taxes	6			5,054			—
Other, net	1,408			5,975			(2,553		)
Provision (benefit) for income taxes	$	33,530		$	46,513		$	(17,254	)

Significant Components of Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and liabilities are as follows at December 31, 2015 and 2014 (in thousands):

	December 31,
	2015			2014
Deferred tax assets:
Net operating loss and other credit carryforwards	$	55,100		$	38,835
Compensation and benefits	8,178			10,736
Inventories	213			280
Intangible assets	35,152			43,977
Pension plan	4,643			3,733
Allowance for doubtful accounts	1,552			1,860
Deferred revenue	4,619			7,622
Foreign tax credit and offset to branch deferreds	104,026			102,286
Other	41,318			17,786
less: valuation allowance	(104,509		)	(102,769		)
Net deferred tax assets	150,292			124,346
Deferred tax liabilities:
Intangible assets	(4,638		)	(5,770		)
Prepaid expenses	(142		)	(163		)
Property, plant and equipment	(219,247		)	(178,505		)
Equity investment in partnerships	(85,385		)	(78,813		)
Other	(4,107		)	(2,549		)
Total deferred tax liabilities	(313,519		)	(265,800		)
Net deferred tax liabilities	$	(163,227	)	$	(141,454	)