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Income Taxes (Tables)
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12 Months Ended |
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Dec. 31, 2014
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| Income Tax Disclosure [Abstract] |
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| Schedule of deferred income tax assets and liabilities |
The income tax effects of temporary differences that give rise to significant portions of deferred income tax assets and liabilities are as follows. | | | | | | | | | | December 31, | | 2014 | | 2013 | | (In thousands) | Deferred income tax assets: | |
| | |
| Non-capital loss carryforwards (“NOL”) | $ | 28,906 |
| | $ | 18,229 |
| Lease inducements and deferred financing | 15,826 |
| | 12,528 |
| Reserves and accruals | 62,487 |
| | 45,974 |
| Stock-based compensation | 17,889 |
| | 12,763 |
| Other | 12,318 |
| | 9,408 |
| Total | 137,426 |
| | 98,902 |
| Less valuation allowance - current | 804 |
| | 875 |
| Less valuation allowance - long term | 28,915 |
| | 17,486 |
| Total valuation allowance | 29,719 |
| | 18,361 |
| Total deferred tax assets | $ | 107,707 |
| | $ | 80,541 |
| Deferred tax assets — current | $ | 58,631 |
| | $ | 44,029 |
| Deferred tax assets — long term | 49,076 |
| | 36,512 |
| Total | $ | 107,707 |
| | $ | 80,541 |
| Deferred income tax liabilities: | |
| | |
| Property and equipment and intangible assets | $ | 297,978 |
| | $ | 329,842 |
| Dividend withholding tax | 5,675 |
| | 5,675 |
| Other | 5,156 |
| | 3,146 |
| Total | $ | 308,809 |
| | $ | 338,663 |
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| Schedule of effective income tax rate reconciliation |
The differences between the effective tax rate reflected in the provision for income taxes and the U.S. statutory income tax rate are as follows (dollars in thousands): | | | | | | | | | | | | | | Years Ended December 31, | | 2014 | | 2013 | | 2012 | Corporate statutory rate | 35.0 | % | | 35.0 | % | | 35.0 | % | Income tax expense on income before income taxes | $ | 177,768 |
| | $ | 140,751 |
| | $ | 66,618 |
| Tax effect of: | |
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| | |
| State and local income taxes, net of federal benefit | 13,527 |
| | 10,726 |
| | 4,281 |
| Transaction costs and transaction related expenses | 453 |
| | 938 |
| | 5,252 |
| Dividend withholding tax | — |
| | (65 | ) | | 13,074 |
| Impact of foreign tax rates | (3,191 | ) | | (3,693 | ) | | (1,582 | ) | Non-controlling interest | (22,452 | ) | | (13,670 | ) | | (1,645 | ) | Cross-jurisdictional financing | (48,252 | ) | | (44,659 | ) | | (23,937 | ) | Other | 3,662 |
| | 4,479 |
| | 3,763 |
| Valuation allowance | 12,671 |
| | 8,596 |
| | 3,492 |
| | $ | 134,186 |
| | $ | 103,403 |
| | $ | 69,316 |
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| Components of income tax expense (benefit) |
The components of the provision for income taxes are as follows (in thousands): | | | | | | | | | | | | | | Years Ended December 31, | | 2014 | | 2013 | | 2012 | Current tax expense | |
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| United States | $ | 192,021 |
| | $ | 146,484 |
| | $ | 94,834 |
| Foreign | 212 |
| | 1,255 |
| | 12,407 |
| Total current tax expense | 192,233 |
| | 147,739 |
| | 107,241 |
| Deferred tax expense (benefit) | |
| | |
| | |
| United States | (57,889 | ) | | (44,180 | ) | | (38,441 | ) | Foreign | (158 | ) | | (156 | ) | | 516 |
| Total deferred tax expense | (58,047 | ) | | (44,336 | ) | | (37,925 | ) | Total tax expense | $ | 134,186 |
| | $ | 103,403 |
| | $ | 69,316 |
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| Reconciliation of unrecognized tax benefits |
A reconciliation of the beginning and ending amount of unrecognized tax benefits, including interest and penalties, for 2014, 2013 and 2012 , respectively are as follows (in millions): | | | | | | | | | | | | | | | | 2014 | | 2013 | | 2012 | Balance at January 1 | | $ | 28.9 |
| | $ | 18.8 |
| | $ | 0.6 |
| Additions for tax positions related to prior years | | 9.0 |
| | 26.5 |
| | 10.3 |
| Reductions for tax positions related to prior years | | (0.9 | ) | | (13.9 | ) | | — |
| Additions based on tax positions related to the current year | | 3.8 |
| | 0.4 |
| | 7.9 |
| Reductions due to lapse of the applicable statute of limitations | | (4.7 | ) | | — |
| | — |
| Decrease related to settlements with taxing authorities | | (0.7 | ) | | (2.9 | ) | | — |
| Balance at December 31 | | $ | 35.4 |
| | $ | 28.9 |
| | $ | 18.8 |
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