Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

The components of income tax expense for the periods presented are as follows:

	Year Ended December 31,
(In thousands)	2024		2023		2022
Net (Loss) Income Before Income Tax:
Domestic	$	(123,188)	$	(118,447)	$	64,592
Foreign	(3,939)		(78,988)		(41,537)
Total net (loss) income before tax	$	(127,127)	$	(197,435)	$	23,055
Income Taxes:
Current:
State and Local	$	134	$	199	$	175
Foreign	4,569		16,656		12,814
Total income taxes, current	4,703		16,855		12,989
Deferred:
State and Local	—		—		—
Foreign	(258)		(2,380)		(1,957)
Total income taxes, deferred	(258)		(2,380)		(1,957)
Total Income Tax Expense	$	4,445	$	14,475	$	11,032

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of effective income tax for the periods presented are as follows:

	Year Ended December 31,
(In thousands)	2024		2023		2022
Net (loss) income before income tax	$	(127,127)	$	(197,435)	$	23,055
Tax (benefit) provision at statutory rates	$	(26,651)	$	(41,461)	$	4,842
Foreign rate differential	(295)		1,139		(730)
Foreign financing activities	7,721		11,047		11,320
Tax adjustments related to REIT	25,871		24,874		(13,565)
Deferred tax assets generated in the current year added to valuation allowance	(1,388)		5,949		9,297
Other	(813)		12,927		(132)
Total income tax expense	$	4,445	$	14,475	$	11,032

Schedule of Deferred Tax Assets and Liabilities

Deferred income taxes as of the periods presented consists of the following:

	December 31,
(In thousands)	2024		2023
Deferred Tax Assets
Basis differences	$	14,924	$	11,278
Net operating loss carryforwards	3,205		5,028
Total deferred tax assets	18,129		16,306
Valuation allowance	(13,263)		(11,498)
Net deferred tax assets	4,866		4,808
Deferred Tax Liabilities
Basis differences	(4,170)		(4,552)
Straight-line rent	(1,307)		(1,457)
Total deferred tax liabilities	(5,477)		(6,009)
Net Deferred Tax Liability	$	(611)	$	(1,201)