Income and Partnership Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of income (loss)

Significant components of income (loss) before taxes for the years ended December 31, 2022, 2021 and 2020 were as follows:

(In thousands)	2022		2021		2020
Domestic	$	327,897	$	(3,603)	$	(675,746)
Foreign	43,760		(24,880)		(52,412)
Total income (loss) before taxes	$	371,657	$	(28,483)	$	(728,158)

Schedule of Components of Income Tax Expense (Benefit)

The provision (benefit) for income taxes was comprised of the following for the years ended December 31, 2022, 2021 and 2020:

(In thousands)	2022		2021		2020
Current federal	$	22,912	$	(21,438)	$	(61,726)
Current state and local	2,799		1,395		(3,747)
Current foreign	19,456		2,896		(32,987)
Total current	45,167		(17,147)		(98,460)
Deferred federal, state and local	6,113		17,870		(43,220)
Deferred foreign	(1,728)		9,018		1,287
Total deferred	4,385		26,888		(41,933)
Total provision (benefit) for income taxes	$	49,552	$	9,741	$	(140,393)

Schedule of Effective Income Tax Rate Reconciliation

The sources and tax effects of the differences were as follows:    

(In thousands)	2022		2021		2020
Income tax provision based on the U.S. federal statutory tax rate	$	78,048	$	(5,981)	$	(152,913)
Partnership (income) loss not subject to corporate income tax	(38,556)		257		47,631
State and local taxes, net	8,154		776		(20,594)
Valuation allowance	9		14,619		3,150
Expired foreign tax credits	—		888		2,253
Tax credits	(1,483)		(901)		(426)
Change in U.S. tax law	(107)		(1,326)		(17,983)
Foreign currency translation losses (gains)	4,754		1,143		(1,455)
Nondeductible expenses and other	(1,267)		266		(56)
Total provision (benefit) for income taxes	$	49,552	$	9,741	$	(140,393)

Schedule of Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and liabilities as of December 31, 2022 and December 31, 2021 were as follows:    

(In thousands)	2022		2021
Deferred tax assets:
Compensation	$	14,817	$	11,835
Accrued expenses	4,135		5,051
Foreign tax credits	11,467		8,392
Tax attribute carryforwards	13,823		20,580
Derivatives	—		5,021
Foreign currency translation	5,313		2,523
Deferred revenue	1,911		3,539
Lease liability	19,037		—
Deferred tax assets	70,503		56,941
Valuation allowance	(24,228)		(24,374)
Net deferred tax assets	46,275		32,567
Deferred tax liabilities:
Property	(76,871)		(78,062)
Intangibles	(20,170)		(20,988)
Right-of-use asset	(18,646)		—
Deferred tax liabilities	(115,687)		(99,050)
Net deferred tax liability	$	(69,412)	$	(66,483)