Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Income (Loss) before Income Tax, Domestic and Foreign

Income (loss) before income tax benefit and equity in earnings (losses) of 50% or less owned companies derived from U.S. and foreign companies for the years ended December 31 were as follows (in thousands):

	2021			2020			2019
United States	$	34,955		$	(83,560	)	$	(71,833	)
Foreign		(29,425	)		(17,748	)		(23,663	)
Eliminations		1,097			3,201			11,022
	$	6,627		$	(98,107	)	$	(84,474	)

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) for the years ended December 31 were as follows (in thousands):

	2021			2020			2019
Current:
Federal	$	—		$	(30,838	)	$	(6	)
State		271			123			(78	)
Foreign		6,362			5,533			5,005
		6,633			(25,182	)		4,921
Deferred:
Federal		4,892			2,435			(12,594	)
State		(32	)		(139	)		(224	)
Foreign		—			(38	)		(72	)
		4,860			2,258			(12,890	)
	$	11,493		$	(22,924	)	$	(7,969	)

Schedule of Effective Income Tax Rate Reconciliation

The following table reconciles the difference between the statutory federal income tax rate for the Company and the effective income tax rate for the years ended December 31:

	2021			2020			2019
Statutory rate		21.0	%		(21.0	)%		(21.0	)%
Exclusion of foreign subsidiaries with current year losses and withholding tax		141.6	%		7.7	%		7.4	%
U.S. federal income tax law changes		—	%		(11.8	)%		—	%
Non-Deductible Expenses		0.4	%		—	%		—	%
JV equity earnings		3.8	%		(0.3	)%		—	%
Noncontrolling interests		—	%		1.3	%		1.7	%
Return to provision		0.4	%		(0.4	)%		2.8	%
State Taxes		2.7	%		(0.1	)%		(0.3	)%
Subpart F Income		2.0	%		0.3	%		—	%
Share Award Plans		1.5	%		0.3	%		—	%
Other		—	%		0.6	%		—	%
Effective Tax Rate		173.4	%		(23.4	)%		(9.4	)%

Schedule of Deferred Tax Assets and Liabilities

The components of net deferred income tax liabilities as of December 31 were as follows (in thousands):

	2021			2020
Deferred tax liabilities:
Property and equipment	$	63,802		$	58,676
Investments in 50% or Less Owned Companies		—			2,925
Other		3,459			4,819
Total deferred tax liabilities		67,261			66,420
Deferred tax assets:
Federal Net Operating Loss Carryforwards		20,312			23,061
Other		8,803			10,073
		29,115			33,134
Valuation Allowance		(2,536	)		(2,536	)
Total deferred tax assets		26,579			30,598
Net deferred tax liabilities	$	40,682		$	35,822