Annual report pursuant to Section 13 and 15(d)

INCOME TAXES (Tables)

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INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Significant Components of the Provision for Income Tax Expense (Benefit) Significant components of the provision for income tax expense (benefit) are as follows:
Year Ended December 31,
2021 2020 2019
(in thousands)
Current:
  Federal $ —  $ —  $ — 
  Foreign 8,713  7,978  61,834 
  State (1,555) 1,024  5,523 
Total current 7,158  9,002  67,357 
Deferred:
  Federal 7,451  (16,366) 5,314 
  Foreign (17,434) (20,772) (6,345)
  State 344  (739) 566 
Total deferred (9,639) (37,877) (465)
Income tax expense (benefit) $ (2,481) $ (28,875) $ 66,892 
Significant Components of Deferred Tax Liabilities and Assets Significant components of our deferred tax liabilities and assets are as follows:
December 31,
2021 2020
(in thousands)
Deferred tax liabilities:
          Leases $ 209,758  $ 206,701 
          Intangible assets 265,092  170,517 
          Prepaid expenses 3,424  17,786 
          Other 5,829  31,835 
Total deferred tax liabilities 484,103  426,839 
Deferred tax assets:
          Intangible assets 48,738  38,846 
          Accrued expenses 105,118  40,843 
          Net operating loss carryforwards 957,509  955,160 
          Foreign tax and other credit carryforwards 45,009  51,119 
          Equity compensation 14,602  25,209 
          Leases 237,963  224,776 
          Other 84,786  34,171 
Total gross deferred tax assets 1,493,725  1,370,124 
          Valuation allowance 1,219,496  1,100,407 
Total net deferred tax assets 274,229  269,717 
Net deferred tax liabilities $ (209,874) $ (157,122)
Reconciliation of Income Taxes at the United States Statutory Rate to Income Tax Expense The reconciliation of income tax computed at the United States federal statutory rates to income tax expense (benefit) is:
Year Ended December 31,
2021 2020 2019
(in thousands)
Income tax expense (benefit) at United States statutory rate of 21%
 $ (128,366) $ (389,900) $ 38,872 
State income taxes, net of federal tax benefits (1,267) 713  3,137 
Differences between foreign and United States statutory rates
 (11,237) (12,794) 6,384 
Non-United States income inclusions and exclusions (1,677) 1,809  (3,222)
United States income inclusions and exclusions (22,121) (16,495) (2,582)
Nondeductible items 18,413  39,861  10,118 
Tax contingencies 895  (1,302) (1,340)
Tax expense from acquired goodwill 7,795  6,950  6,107 
Change in valuation allowance 135,908  344,161  8,536 
Other, net (824) (1,878) 882 
$ (2,481) $ (28,875) $ 66,892 
Summary of Activity Related to Unrecognized Tax Benefits The following table summarizes the activity related to our unrecognized tax benefits:
Year Ended December 31,
2021 2020 2019
(in thousands)
Balance at January 1 $ 21,732  $ 21,723  $ 34,071 
Additions:
          Increase for current year positions 524  1,689  2,215 
          Increase for prior year positions 335  —  1,898 
          Interest and penalties for prior years 36  352  458 
Reductions:
          Decrease for prior year positions —  (2,109) (3,272)
          Expiration of applicable statute of limitations —  —  — 
          Settlements for prior year positions (1,435) (17) (13,852)
Foreign exchange 138  94  205 
Balance at December 31 $ 21,330  $ 21,732  $ 21,723