Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense (Benefit)

From our TRS and our foreign operations, income tax expense (benefit) were as follows (in thousands):

	For the Years Ended December 31,
	2018			2017			2016
Current income tax (benefit) expense:
Domestic	$	(125	)	$	(41	)	$	42
Foreign		3,294			3,062			1,856
		3,169			3,021			1,898
Deferred income tax (benefit) expense:
Domestic		(3,713	)		(233	)		147
Foreign		1,471			(107	)		(8,875	)
		(2,242	)		(340	)		(8,728	)
Income tax expense (benefit)	$	927		$	2,681		$	(6,830	)

Summary of Reconciliation of the Income Tax Expense (Benefit) at the Statutory Income Tax Rate and the Effective Tax Rate for Income before Income Taxes

A reconciliation of the income tax expense (benefit) at the statutory income tax rate and the effective tax rate for income before income taxes for the years ended December 31, 2018, 2017, and 2016 is as follows (in thousands):

	2018			2017			2016
Income before income tax	$	1,019,404		$	293,919		$	219,107
Income tax at the U.S. statutory federal rate (21% in 2018 and 35% in    2017 and 2016)		214,075			102,872			76,687
Increase (decrease) resulting from:
Foreign rate differential		(2,643	)		(2,326	)		1,434
State income taxes, net of federal benefit		379			—			66
U.S. earnings not subject to federal income tax		(208,472	)		(98,026	)		(84,927	)
Equity investments		(46	)		3,293			4,297
Change in valuation allowance		(2,668	)		(5,391	)		(6,104	)
Other items, net		302			2,259			1,717
Total income tax expense (benefit)	$	927		$	2,681		$	(6,830	)

Schedule of Deferred Tax Assets and Liabilities

At December 31, 2018 and 2017, components of our deferred tax assets and liabilities were as follows (in thousands):

	2018			2017
Deferred tax assets:
Operating loss and interest deduction carry forwards	$	21,984		$	24,580
Other		277			504
Total deferred tax assets		22,261			25,084
Valuation allowance		(3,444	)		(11,101	)
Total net deferred tax assets	$	18,817		$	13,983
Deferred tax liabilities:
Property and equipment	$	(12,359	)	$	(4,336	)
Net unbilled revenue		(1,633	)		(6,113	)
Partnership investments		—			(2,099	)
Other		(300	)		(1,320	)
Total deferred tax liabilities		(14,292	)		(13,868	)
Net deferred tax asset (liability)	$	4,525		$	115

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,
	2018		2017		2016
Common share distribution	$	0.990000	$	0.950000	$	0.900000
Ordinary income		0.438792		0.655535		0.619368
Capital gains(1)		0.551208		0.021022		0.102552
Unrecaptured Sec. 1250 gain		0.132280		0.004647		0.045432
Section 19A Dividends		0.438792		—		—
Return of capital		—		0.273443		0.178080

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