Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Summary of Components of (Loss) Income before Tax, Domestic and Foreign

(Loss) income from continuing operations before taxes consisted of the following:

	Years Ended December 31,
	2024		2023		2022
U.S.	$	(112,261)	$	(112,437)	$	107,186
International	59,934		68,517		81,466
Total	$	(52,327)	$	(43,920)	$	188,652

Summary of Components of Income Tax (Benefit) Provision

The (benefit) provision for income taxes from continuing operations consisted of the following:

	Years Ended December 31,
	2024			2023			2022
U.S. Federal:
Current	$	2,535		$	32,784		$	28,565
Deferred	(138,444)			(31,591)			(9,995)
	(135,909)			1,193			18,570
U.S. State and Local:
Current	1,375			9,083			(834)
Deferred	(41,416)			(9,973)			7,036
	(40,041)			(890)			6,202
International:
Current	14,971			11,266			9,276
Deferred	6,150			5,778			8,908
	21,121			17,044			18,184
Total current	18,881			53,133			37,007
Total deferred	(173,710)			(35,786)			5,949
Total (benefit) provision for income taxes	$	(154,829)		$	17,347		$	42,956
Effective tax rate	295.9		%	(39.5)		%	22.8		%

Summary of Reconciliation of Effective Income Tax Rate Reconciliation

A reconciliation of income taxes computed at the federal statutory rate and our provision for income taxes consist of the following:

	Years Ended December 31,
	2024		2023		2022
Federal statutory provision	$	(10,989)	$	(9,223)	$	39,617
State and local income taxes (1)	(31,632)		(703)		5,325
Impact of foreign operations taxed at rates other than the U.S. statutory rate (2)	4,595		2,779		3,472
Accrual/release of uncertain tax amounts related to foreign operations	(829)		(2,829)		(2,753)
U.S. tax impacts of foreign income in the U.S. (3)	7,983		1,099		1,089
Tax credits	—		(69)		—
Unrealized stock compensation benefits	1,686		574		572
Surrender of company-owned life insurance policies	8,139		—		—
Nondeductible officer's compensation	5,992		—		—
Valuation allowance on capital loss carryforward	2,100
Goodwill impairment	—		24,437		—
Affiliate reorganization	(141,723)		—		—
Tax basis differences	—		—		(5,610)
Other, net	(151)		1,282		1,244
(Benefit) provision for income taxes	$	(154,829)	$	17,347	$	42,956

(1)    Includes a benefit of $22 million related to the affiliate reorganization and a benefit of $6 million related to a state interest valuation allowance release for the year ended December 31, 2024 as well as $1 million related to tax resolutions and a benefit of $1 million for tax return true-ups for the year ended December 31, 2022.

(2)    Includes a charge of $1 million for a change in tax rates for the year ended December 31, 2024 and a charge of $2 million for a deferred rate change and a charge of $1 million for the establishment of a valuation allowance for the year ended December 31, 2022.

(3)    Includes a charge of $2 million for the loss of the GILTI deduction as well as a charge of $2 million for withholding tax for the year ended December 31, 2024 and a benefit of $1 million for the year ended December 31, 2022 associated with the sale of a business.

Summary of Components of Deferred Tax Assets and Liabilities

Deferred tax liabilities and assets consisted of the following:

	December 31,
	2024		2023
Deferred tax liabilities:
Depreciation	$	—	$	2,031
Deferred profit (for tax purposes) on sale to finance subsidiary	(53,370)		(43,057)
Lease revenue and related depreciation	(183,237)		(205,773)
Intangible assets	(52,773)		(52,609)
Operating lease liability	(27,857)		(31,114)
Basis adjustment in subsidiary	—		(51,548)
Other	(10,847)		(13,805)
Gross deferred tax liabilities	(328,084)		(395,875)
Deferred tax assets:
Depreciation	32,539		—
Postretirement medical benefits	20,108		23,472
Pension	16,948		15,042
Operating lease asset	31,429		35,731
Long-term incentives	5,914		11,814
Net operating and capital losses	257,186		179,153
Tax credit carry forwards	65,697		65,095
Section 163j carryforward	86,075		47,802
Tax uncertainties gross-up	4,568		4,904
Other	57,915		47,736
Gross deferred tax assets	545,840		430,749
Less: Valuation allowance	(206,441)		(159,342)
Net deferred tax assets	371,938		271,407
Total deferred taxes, net	$	43,854	$	(124,468)

Summary of Tax Uncertainties Roll Forward

A reconciliation of the amount of unrecognized tax benefits is as follows:

	2024		2023		2022
Balance at beginning of year	$	30,232	$	33,300	$	45,072
Increases from prior period positions	—		343		6
Decreases from prior period positions	(955)		(524)		(6,830)
Increases from current period positions	73		400		340
Decreases relating to settlements with tax authorities	(1,467)		(350)		(1,966)
Reductions from lapse of applicable statute of limitations	(846)		(2,937)		(3,322)
Balance at end of year	$	27,037	$	30,232	$	33,300