Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.19.3.a.u2
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Schedule of (income) loss before income taxes
The following table presents the (income) loss before income taxes for the periods presented (in thousands): 
 
 
For the Year Ended December 31,
 
 
2019
 
2018
 
2017
Income attributable to common stockholders
 
$
(18,117
)
 
$
(35,979
)
 
$
(137,842
)
Loss attributable to noncontrolling interest and redeemable noncontrolling interests
 
417,357

 
286,843

 
413,104

Loss before income taxes
 
$
399,240

 
$
250,864

 
$
275,262


Schedule of income tax provision (benefit)
The income tax provision (benefit) consists of the following (in thousands):
 
 
For the Year Ended December 31,
 
 
2019
 
2018
 
2017
Current
 
 
 
 
 
 
Federal
 
$
(454
)
 
$
(1,100
)
 
$

State
 
(593
)
 
292

 

Foreign
 
1,435

 

 

Total current expense (benefit)
 
388

 
(808
)
 

Deferred
 
 
 
 
 
 
Federal
 
(7,634
)
 
1,995

 
4,784

State
 
(972
)
 
8,135

 
7,569

Foreign
 

 

 

Total deferred (benefit) provision
 
(8,606
)
 
10,130

 
12,353

Total
 
$
(8,218
)
 
$
9,322

 
$
12,353


Schedule of reconciliation of the statutory federal rate
The following table represents a reconciliation of the statutory federal rate and the Company’s effective tax rate for the periods presented:
 
 
For the Year Ended December 31,
 
 
2019
 
2018
 
2017
Tax provision (benefit) at federal statutory rate
 
(21.00
)%
 
(21.00
)%
 
(34.00
)%
State income taxes, net of federal benefit
 
(0.97
)
 
0.32

 
1.94

Effect of noncontrolling and redeemable noncontrolling interests
 
21.95

 
24.01

 
51.03

Stock-based compensation
 
(1.96
)
 
(1.77
)
 
0.70

ASC 740-10 Reserve
 
(0.11
)
 

 

Tax credits
 
(0.99
)
 
(1.35
)
 
(1.25
)
Effect of rate change
 

 

 
(15.93
)
Effect of valuation allowance
 
0.40

 
3.04

 
0.81

Other
 
0.62

 
0.47

 
1.20

Total
 
(2.06
)%
 
3.72
 %
 
4.50
 %

Schedule of deferred tax assets and liabilities The following table represents the components of the Company’s deferred tax assets and liabilities for the periods presented (in thousands):
 
 
December 31,
 
 
2019
 
2018
Deferred tax assets
 
 
 
 
Accruals and prepaids
 
$
19,704

 
$
18,871

Deferred revenue
 
11,229

 

Net operating loss carryforwards
 
347,997

 
288,039

Stock-based compensation
 
7,104

 
5,681

Investment tax and other credits
 
32,878

 
28,551

Interest Expense
 
12,394

 
9,614

Interest rate derivatives
 
18,988

 
1,282

Total deferred tax assets
 
450,294

 
352,038

Less: Valuation allowance
 
(12,120
)
 
(10,506
)
Gross deferred tax assets
 
438,174

 
341,532

Deferred tax liabilities
 
 
 
 
Deferred revenue
 

 
17,526

Capitalized costs to obtain a contract
 
66,247

 
54,823

Fixed asset depreciation
 
263,917

 
218,701

Deferred tax on investment in partnerships
 
173,974

 
144,115

Gross deferred tax liabilities
 
504,138

 
435,165

Net deferred tax liabilities
 
$
(65,964
)
 
$
(93,633
)

Schedule of uncategorized tax benefits
The change in unrecognized tax benefits during 2019, 2018 and 2017, excluding penalties and interest, is as follows:
 
 
For the Year Ended December 31,
 
 
2019
 
2018
 
2017
Unrecognized tax benefits at beginning of the year
 
$
647

 
$
1,525

 
$
1,525

Reversal of prior year unrecognized tax benefits due to the expiration of the statute of limitations
 
(647
)
 
(878
)
 

Unrecognized tax benefits at end of the year
 
$

 
$
647

 
$
1,525


Summary of tax years that remain open and subject to examination by the tax authorities
The following table summarizes the tax years that remain open and subject to examination by the tax authorities in the most significant jurisdictions in which the Company operates:
 
Tax Years
U.S. Federal
2016 - 2019
State
2015 - 2019