Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense

From our taxable REIT subsidiaries and our foreign operations, we incurred income tax expenses as follows (in thousands):

	For the years ended December 31,
	2015			2014			2013
Current income tax expense:
Domestic	$	147		$	114		$	358
Foreign		1,614			225			158
		1,761			339			516
Deferred income tax (benefit) expense:
Domestic		(360	)		(23	)		210
Foreign		102			24			—
		(258	)		1			210
Income tax expense	$	1,503		$	340		$	726

Schedule of Deferred Tax Assets and Liabilities

At December 31, 2015 and 2014, components of our deferred tax assets and liabilities were as follows (in thousands):

	2015			2014
Deferred tax liabilities:
Property and equipment	$	(1,636	)	$	—
Unbilled rent		(4,495	)		(2,070	)
Partnership investments		(3,362	)		(3,468	)
Other		(6,141	)		(3,759	)
Total deferred tax liabilities	$	(15,634	)	$	(9,297	)
Deferred tax assets:
Operating loss and interest deduction carry forwards	$	19,016		$	19,546
Property and equipment		—			2,373
Other		10,314			3,971
Total deferred tax assets		29,330			25,890
Valuation allowance		(23,005	)		(16,831	)
Total net deferred tax assets	$	6,325		$	9,059
Net deferred tax (liability)	$	(9,309	)	$	(238	)

Summary of Reconciliation of the Income Tax Expense at the Statutory Income Tax Rate and the Effective Tax Rate for Income from Continuing Operations before Income Taxes

A reconciliation of the income tax expense at the statutory income tax rate and the effective tax rate for income from continuing operations before income taxes for the years ended December 31, 2015, 2014, and 2013 is as follows (in thousands):

	2015			2014			2013
Income from continuing operations (before-tax)	$	141,430		$	51,138		$	90,027
Income tax at the US statutory federal rate (35%)		49,501			17,898			31,509
Increase (decrease) resulting from:
Rate differential		5,047			1,145			2,380
State income taxes, net of federal benefit		(601	)		(337	)		271
Dividends paid deduction		(57,109	)		(27,873	)		(33,345	)
Change in valuation allowance		6,174			8,988			(697	)
Other items, net		(1,509	)		519			608
Total income tax expense	$	1,503		$	340		$	726

Schedule of Per Share Distributions to Stockholders

A schedule of per share distributions we paid and reported to our stockholders is set forth in the following:

	For the Years Ended December 31,
	2015		2014		2013
Common share distribution	$	0.870000	$	0.840000	$	0.800000
Ordinary income		0.769535		0.520692		0.599384
Capital gains(1)		—		0.000276		0.046380
Unrecaptured Sec. 1250 gain		—		0.000276		0.026512
Return of capital		0.100465		0.319032		0.154236
Allocable to next year		—		—		—

(1) Capital gains include unrecaptured Sec. 1250 gains.