Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.22.4
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Schedule of (Income) Loss Before Income Taxes
The following table presents the loss (income) before income taxes for the periods presented (in thousands): 
For the Year Ended December 31,
2022 2021 2020
Loss (income) attributable to common stockholders $ (175,668) $ 70,152  $ 233,967 
Loss attributable to noncontrolling interest and redeemable noncontrolling interests
1,023,022  901,107  453,554 
Loss before income taxes $ 847,354  $ 971,259  $ 687,521 
Schedule of Income Tax Provision (Benefit)
The income tax provision (benefit) consists of the following (in thousands):
For the Year Ended December 31,
2022 2021 2020
Current
Federal
$ —  $ —  $ — 
State
—  —  — 
Foreign —  —  (1,422)
Total current (benefit) expense —  —  (1,422)
Deferred
Federal
1,460  13,938  (61,387)
State
831  (4,667) 2,236 
Foreign —  —  — 
Total deferred (benefit) provision 2,291  9,271  (59,151)
Total
$ 2,291  $ 9,271  $ (60,573)
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,
2022 2021 2020
Tax provision (benefit) at federal statutory rate
(21.00) % (21.00) % (21.00) %
State income taxes, net of federal benefit
3.42  (2.30) (1.69)
Effect of noncontrolling and redeemable noncontrolling interests
25.35  19.48  13.85 
Stock-based compensation
1.03  0.29  (2.98)
Tax credits
(1.42) (0.82) (0.77)
Effect of valuation allowance (7.47) 4.67  3.45 
Other
0.36  0.63  0.33 
Total
0.27  % 0.95  % (8.81) %
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,
2022 2021
Deferred tax assets
Accruals and prepaids
$ 39,942  $ 53,506 
Deferred revenue
70,491  52,017 
Net operating loss carryforwards
625,147  605,416 
Stock-based compensation
11,327  15,345 
Investment tax and other credits
108,107  95,889 
Interest expense 16,386  5,644 
UNICAP costs 149,873  61,671 
Interest rate derivatives —  39,784 
Total deferred tax assets 1,021,273  929,272 
Less: Valuation allowance (61,695) (136,682)
Gross deferred tax assets 959,578  792,590 
Deferred tax liabilities
Interest rate derivatives 20,613  — 
Capitalized costs to obtain a contract 266,697  171,219 
Fixed asset depreciation and amortization 442,656  435,493 
Deferred tax on investment in partnerships 362,659  287,631 
Gross deferred tax liabilities 1,092,625  894,343 
Net deferred tax liabilities $ (133,047) $ (101,753)
Schedule 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 2019 - 2022
State 2018 - 2022