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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2021
Income Taxes [Abstract]  
US And Foreign Pre-Tax Income Amounts in thousands 2021 2020 2019Income before taxes: US $ 29,715 $ (45,927) $ (3,736)Foreign (1,566) 2,639 (8,231)Total income before taxes $ 28,149 $ (43,288) $ (11,967)
Provision For Income Taxes For the year ended December 31, Amounts in thousands 2021 2020 2019US - Current $5,160 $270 $316US - Deferred — 973 (199)Provision for US income taxes $5,160 $1,243 $117 Foreign - Current $866 $1,130 $3,748Foreign - Deferred 345 2,475 309Provision for foreign income taxes $1,211 $3,605 $4,057Total provision for income taxes $6,371 $4,848 $4,174
Reconciliation Of Effective Income Tax Rate Statutory Federal Income Tax Rate Amounts in thousands202120202019US federal income tax statutory rate 21.0%(21.0%)(21.0%)Foreign income taxes(0.2%)(2.2%)6.8%State income tax (net of federal benefit)3.0%(3.8%)(0.3%)Meals, entertainment, gifts and giveaways0.4%—2.4%Statutory to US GAAP adjustments, including foreign currency2.6%(1.8%)3.7%Valuation allowance(4.6%)41.0%32.3%Unrecognized tax benefit(0.3%)——Stock options1.3%(0.1%)1.9%Tax Act impact——5.6%Permanent and other items(0.6%)(0.9%)3.5%Total provision for income taxes22.6%11.2%34.9%
Deferred Tax Assets And Liabilities Amounts in thousands 2021 2020Deferred tax assets (liabilities) - US Federal and state: Deferred tax assets Amortization of goodwill for tax $ 7,902 $8,416Amortization of startup costs — 13Financing obligation to VICI Properties, Inc. subsidiaries 68,342 67,712NOL carryforward — 2,506Operating and finance leases 329 488Accrued liabilities and other 861 590 77,434 79,725Valuation allowance (10,236) (12,371) $67,198 $67,354Deferred tax liabilities Property and equipment $ (66,616) $ (66,677)Operating and finance leases (313) (479)Prepaid expenses (269) (198) $ (67,198) $ (67,354)Long-term deferred tax asset $ — $ — Deferred tax assets (liabilities) - foreign Deferred tax assets Property and equipment $ 704 $ 810 NOL carryforward 6,331 5,179Accrued liabilities and other 1,018 854Contingent liability — 90Operating and finance leases 8,615 9,583Subsidiary liquidation 3,802 4,283Exchange rate gain 992 1,236 21,462 22,035Valuation allowance (10,088) (9,261) $ 11,374 $ 12,774Deferred tax liabilities Property and equipment $ (4,071) $ (4,044)Exchange rate loss (158) (199)Intangibles (1,110) (1,105)Operating and finance leases (7,894) (8,944)Others (501) (495) $ (13,734) $ (14,787)Long-term deferred tax liability $ (2,360) $ (2,013)
Periods Subject To Examination Of Tax Returns Jurisdiction Periods US Federal 2017-2020 US State - Colorado 2017-2020 US State – Missouri 2019-2020 US State – West Virginia 2019-2020 Canada 2006-2020 Mauritius 2018-2020 Poland 2016-2020 Austria 2016-2020
Deferred Tax Assets Expiration Amounts in thousands 2021 - 2031 $2712032 - 2041 5,618No expiration 442Total deferred tax assets $6,331
Unrecognized Tax Benefits Amounts in thousands 2021 2020Unrecognized tax benefit - January 1 $835 $821Gross increases - tax positions in prior period 3 14Gross decreases - tax positions in prior period — —Gross increases - tax positions in current period — —Settlements — —Lapse of statute of limitations (61) —Unrecognized tax benefit - December 31 $777 $835