Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of common stock distributions

The following table shows the characterization of our annual common stock distributions per share:

	Year Ended December 31,
	2018		2017		2016
Ordinary dividends(1)	$	0.9578	$	1.4800	$	1.5561
Capital gains	0.5222		—		—
Nondividend distributions	—		—		6.7089
	$	1.4800	$	1.4800	$	8.2650	(2)

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(1) The 2018 amount includes $0.0164 of qualified dividend income for purposes of Code Section 1(h)(11), and $0.9414 of qualified business income for purposes of Code Section 199A.

(2) Consists of $2.095 per common share of quarterly cash dividends and $6.17 per common share of stock dividends related to the Spin-Off (see Note 5).

Schedule of income tax expense (benefit) from continuing operations

The total income tax expense (benefit) from continuing operations consists of the following components (in thousands):

	Year Ended December 31,
	2018			2017			2016
Current
Federal	$	(568	)	$	949		$	8,525
State	4,003			1,504			8,307
Foreign	84			1,737			1,332
Total current	$	3,519		$	4,190		$	18,164
Deferred
Federal	$	(11,905	)	$	2,730		$	(10,241	)
State	(4,589		)	(5,889		)	(1,401		)
Foreign	(4,879		)	(2,364		)	(2,049		)
Total deferred	$	(21,373	)	$	(5,523	)	$	(13,691	)
Total income tax expense (benefit)	$	(17,854	)	$	(1,333	)	$	4,473

Schedule of reconciliation of income tax expense at statutory rates to the actual income tax expense recorded

The following table reconciles income tax expense (benefit) from continuing operations at statutory rates to actual income tax expense recorded (in thousands):

	Year Ended December 31,
	2018			2017			2016
Tax benefit at U.S. federal statutory income tax rate on income or loss subject to tax	$	(17,857	)	$	(21,085	)	$	(4,581	)
State income tax expense, net of federal tax	(1,313		)	(1,222		)	6,081
Gross receipts and margin taxes	1,580			1,716			1,847
Foreign rate differential	301			632			647
Effect of permanent differences	(34		)	6			(280		)
Return to provision adjustments	(278		)	1,597			287
Remeasurement of deferred tax assets and liabilities	—			17,080			—
Increase (decrease) in valuation allowance	(253		)	(57		)	472
Total income tax expense (benefit)	$	(17,854	)	$	(1,333	)	$	4,473

Schedule of significant components of the company's deferred tax asset and liabilities

The following table summarizes the significant components of the Company’s deferred tax assets and liabilities from continuing operations (in thousands):

	December 31,
	2018			2017			2016
Property, primarily differences in depreciation and amortization, the basis of land, and the treatment of interest and certain costs	$	31,034		$	31,691		$	28,940
Net operating loss carryforward	20,559			10,720			8,784
Expense accruals and other	2,424			229			(847		)
Valuation allowance	(295		)	(548		)	(606		)
Net deferred tax assets	$	53,722		$	42,092		$	36,271