Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income Tax Benefit (Expense)

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

	For the Years Ended December 31,
	2021			2020			2019
Current income tax (expense) benefit:
Domestic	$	(1,559	)	$	63		$	61
Foreign		(18,964	)		(10,203	)		(1,669	)
		(20,523	)		(10,140	)		(1,608	)
Deferred income tax (expense) benefit:
Domestic		6,915			(10,680	)		5,490
Foreign		(60,340	)		(10,236	)		(1,261	)
		(53,425	)		(20,916	)		4,229
Income tax (expense) benefit	$	(73,948	)	$	(31,056	)	$	2,621

Summary of Reconciliation of Income Tax Benefit (Expense) from the Statutory Income Tax Rate to the Effective Tax Rate Based on Income before Income Taxes

A reconciliation of income tax (expense) benefit from the statutory income tax rate to the effective tax rate based on income before income taxes for the years ended December 31, 2021, 2020, and 2019 is as follows (in thousands):

	For the Years Ended December 31,
	2021			2020			2019
Income before income tax	$	730,888		$	463,328		$	373,780
Income tax at the U.S. statutory federal rate (21% in    2021, 2020, and 2019)		(153,486	)		(97,299	)		(78,494	)
Decrease (increase) in income tax resulting from:
Foreign rate differential		2,742			2,160			438
State income taxes, net of federal benefit		—			970			1,621
U.S. earnings not subject to federal income tax		132,266			82,921			85,495
Equity investments		—			380			1,091
Change in valuation allowance		(10,040	)		(8,514	)		(7,911	)
Statutory tax rate change		(43,924	)		(9,471	)		—
Interest disallowance		(646	)		—			—
Other items, net		(860	)		(2,203	)		381
Total income tax (expense) benefit	$	(73,948	)	$	(31,056	)	$	2,621

Schedule of Deferred Tax Assets and Liabilities

At December 31, 2021 and 2020, components of our deferred tax assets and liabilities were as follows (in thousands):

	2021			2020
Deferred tax assets:
Operating loss and interest deduction carry forwards	$	197,876		$	150,001
Interest rate swap		—			9,150
Other		1,815			6,973
Total deferred tax assets		199,691			166,124
Valuation allowance		(61,747	)		(36,977	)
Total net deferred tax assets	$	137,944		$	129,147
Deferred tax liabilities:
Property and equipment	$	(320,546	)	$	(211,018	)
Net unbilled revenue		(43,366	)		(14,776	)
Partnership investments		(15,963	)		—
Other		(3,836	)		(4,010	)
Total deferred tax liabilities		(383,711	)		(229,804	)
Net deferred tax asset (liability)	$	(245,767	)	$	(100,657	)

Schedule of Net NOL and Other Tax Attribute Carryforwards

At December 31, 2021, we had net NOL and other tax attribute carryforwards as follows (in thousands):

	U.S.			Foreign
Gross NOL carryforwards	$	239,520		$	699,514
Tax-effected NOL carryforwards	$	28,837		$	169,039
Valuation allowance		(6,291	)		(45,578	)
Net deferred tax asset - NOL carryforwards	$	22,546		$	123,461
Expiration periods	2030-indefinite			indefinite

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,
	2021		2020		2019
Common share distribution	$	1.110000	$	1.070000	$	1.010000
Ordinary income		0.764580		0.603050		0.701910
Capital gains(1)		0.165420		—		0.275040
Unrecaptured Sec. 1250 gain		0.058270		—		0.041160
Section 199A Dividends		0.764580		0.603050		0.701910
Return of capital		0.180000		0.466950		0.033050

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