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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Schedule of tax treatment of distributions per common share Our tax treatment of distributions per common share was as follows:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
Tax treatment of distributions:
 
 
 
 
 
Ordinary income
$
—

 
$
—

 
$
1.02814

Qualified ordinary income
0.12230

 
0.00375

 
0.00337

199A qualified business income
2.22898

 
2.97465

 
—

Long-term capital gain
—

 
0.05916

 
1.07836

Unrecaptured Section 1250 gain
0.03434

 
0.12244

 
0.21513

Non-dividend distribution
0.78438

 
—

 
—

Distribution reported for 1099-DIV purposes
3.17000

 
3.16000

 
2.32500

Add: Dividend declared in current year and taxable in following year
0.79250

 
0.79250

 
0.79000

Less: Dividend declared in prior year and taxable in current year
(0.79250
)
 
(0.79000
)
 
—

Distribution declared per common share outstanding
$
3.17000

 
$
3.16250

 
$
3.11500
Schedule of provision (benefit) for income taxes Our consolidated benefit for income taxes was as follows:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
 
(In thousands)
Current - Federal
$
(1,840
)
 
$
(2,953
)
 
$
(5,672
)
Current - State
2,118

 
1,332

 
1,119

Deferred - Federal
(49,532
)
 
(32,492
)
 
(54,396
)
Deferred - State
(3,353
)
 
(825
)
 
3,237

Current - Foreign
2,335

 
1,892

 
2,307

Deferred - Foreign
(6,038
)
 
(6,907
)
 
(6,394
)
Total
$
(56,310
)
 
$
(39,953
)
 
$
(59,799
)
Schedule of reconciliation of income tax expense A reconciliation of income tax expense and benefit, which is computed by applying the federal corporate tax rate for the years ended December 31, 2019, 2018 and 2017, to the income tax benefit is as follows:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
 
(In thousands)
Tax at statutory rate on earnings from continuing operations before unconsolidated entities, noncontrolling interest and income taxes
$
77,803

 
$
80,811

 
$
204,742

State income taxes, net of federal benefit
2,341

 
(253
)
 
(1,115
)
Change in valuation allowance from ordinary operations
(47,227
)
 
(5,451
)
 
8,237

Decrease in ASC 740 income tax liability
—

 
(4,347
)
 
(4,750
)
Tax at statutory rate on earnings not subject to federal income taxes
(90,862
)
 
(89,947
)
 
(231,379
)
Foreign rate differential and foreign taxes
1,407

 
1,924

 
6,407

Change in tax status of TRS
(52
)
 
359

 
(690
)
Effect of the 2017 Tax Act
—

 
(23,160
)
 
(41,212
)
Other differences
280

 
111

 
(39
)
Income tax benefit
$
(56,310
)
 
$
(39,953
)
 
$
(59,799
)
Summary of tax effects of temporary differences and carryforwards included in the net deferred tax liabilities The tax effects of temporary differences and carryforwards included in the net deferred tax liabilities are summarized as follows:
 
As of December 31,
 
2019
 
2018
 
2017
 
(In thousands)
Property, primarily differences in depreciation and amortization, the tax basis of land assets and the treatment of interests and certain costs
$
(257,373
)
 
$
(269,758
)
 
$
(300,395
)
Operating loss and interest deduction carryforwards
136,771

 
133,243

 
146,732

Expense accruals and other
7,380

 
11,910

 
12,890

Valuation allowance
(40,114
)
 
(80,614
)
 
(109,319
)
Net deferred tax liabilities
$
(153,336
)
 
$
(205,219
)
 
$
(250,092
)


We established beginning net deferred tax assets and liabilities related to temporary differences between the financial reporting and the tax bases of assets acquired and liabilities assumed (primarily property, intangible and related assets, net of NOL carryforwards) in connection with the following acquisitions:
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
 
(In thousands)
Research and innovation acquisition
$
—

 
$
—

 
$
19,262

Miscellaneous acquisitions
—

 
(922
)
 
(4,510
)
Established beginning deferred tax assets or liabilities
$
—

 
$
(922
)
 
$
14,752
Summary of activity related to unrecognized tax benefits
The following table summarizes the activity related to our unrecognized tax benefits:
 
2019
 
2018
 
(In thousands)
Balance as of January 1
$
12,344

 
$
16,765

Additions to tax positions related to prior years
178

 
207

Subtractions to tax positions related to prior years
(395
)
 
(1,720
)
Subtractions to tax positions as a result of the lapse of the statute of limitations
—

 
(2,908
)
Balance as of December 31
$
12,127

 
$
12,344