Entity information:
Income Taxes
Income (loss) from continuing operations before income taxes by geographic area is as follows: 
 
Years Ended December 31,
 
2017
 
2016
 
2015
Domestic
$
450,771

 
$
349,041

 
$
461,293

Foreign(a)
19,822

 
24,813

 
12,536

Total
$
470,593

 
$
373,854

 
$
473,829

    
(a)
Inclusive of income (loss) before income taxes from Puerto Rico.
The benefit (provision) for income taxes consists of the following: 
 
Years Ended December 31,
 
2017

2016

2015
Current:
 
 
 
 
 
Federal
$
(2,816
)
 
$
(227
)
 
$
495

Foreign
(6,050
)
 
(6,820
)
 
(5,675
)
State
(2,289
)
 
(1,231
)
 
(3,981
)
Total current
(11,155
)
 
(8,278
)
 
(9,161
)
Deferred:
 
 
 
 
 
Federal
(17,743
)
 
(7,968
)
 
44,716

Foreign
2,883

 
(601
)
 
(1,048
)
State
(28
)
 
(34
)
 
16,950

Total deferred
(14,888
)
 
(8,603
)
 
60,618

Total tax benefit (provision)
$
(26,043
)
 
$
(16,881
)
 
$
51,457


A reconciliation between the benefit (provision) for income taxes and the amount computed by applying the federal statutory income tax rate to the income (loss) before income taxes is as follows:
 
Years Ended December 31,
 
2017

2016
 
2015
Benefit (provision) for income taxes at statutory rate
$
(164,707
)
 
$
(130,849
)
 
$
(165,840
)
Tax effect of foreign income (losses)
(430
)
 
1,215

 
(527
)
Tax adjustment related to REIT operations
158,812

 
121,092

 
186,649

Tax adjustment related to the inclusion of small cells in the REIT(a)
—

 
—

 
33,759

Expenses for which no federal tax benefit was recognized
(42
)
 
(43
)
 
(414
)
Valuation allowances
21

 
(21
)
 
3,000

State tax (provision) benefit, net of federal
(2,115
)
 
(1,085
)
 
1,210

Foreign tax
(3,168
)
 
(7,421
)
 
(6,723
)
Effects of tax law change(b)
(14,628
)
 
—

 
—

Other
214

 
231

 
343

Total
$
(26,043
)
 
$
(16,881
)
 
$
51,457

    
(a)
During the fourth quarter of 2015, the Company de-recognized the net deferred tax liabilities related to the Company's small cells previously included in one or more TRSs in conjunction with the inclusion of small cells in the REIT in January 2016.
(b)
Pursuant to the Tax Cuts and Jobs Act, which was signed into law in December 2017, the Company was required to write down its net federal deferred tax asset in the amount of $16.8 million as a result of the reduction in the federal corporate tax rate offset by a benefit of $2.2 million related to the refund of the Company's alternative minimum tax credit carryforward.
The components of the net deferred income tax assets and liabilities are as follows: 
 
December 31,
 
2017
 
2016
Deferred income tax liabilities:
 
 
 
Property and equipment
$
4,940

 
$
3,945

Deferred site rental receivable
6,907

 
6,192

Total deferred income tax liabilities
11,847


10,137

Deferred income tax assets:
 
 
 
Intangible assets
4,460

 
22,377

Net operating loss carryforwards
20,800

 
21,143

Deferred ground lease payable
2,060

 
1,646

Accrued liabilities
5,161

 
5,511

Receivables allowance
317

 
383

Other
1,431

 
1,726

Valuation allowances
(1,172
)
 
(6,627
)
Total deferred income tax assets, net
33,057

 
46,159

Net deferred income tax asset (liabilities)
$
21,210

 
$
36,022


The Company operates as a REIT for U.S. federal income tax purposes.
The components of the net deferred income tax assets (liabilities) are as follows:
 
December 31, 2017
 
December 31, 2016
Classification
Gross
 
Valuation
Allowance
 
Net
 
Gross
 
Valuation
Allowance
 
Net
Federal
$
25,260

 
$
—

 
$
25,260

 
$
42,948

 
$
(21
)
 
$
42,927

State
1,142

 
—

 
1,142

 
1,170

 
—

 
1,170

Foreign
(4,020
)
 
(1,172
)
 
(5,192
)
 
(1,469
)
 
(6,606
)
 
(8,075
)
Total
$
22,382

 
$
(1,172
)
 
$
21,210

 
$
42,649

 
$
(6,627
)
 
$
36,022


At December 31, 2017, the Company had U.S. federal and state NOLs of approximately $1.5 billion and $0.6 billion, respectively, which are available to offset future taxable income. These amounts include approximately $237.0 million of losses related to stock-based compensation. The Company also has foreign NOLs of $53.2 million. If not utilized, the Company's U.S. federal NOLs expire starting in 2024 and ending in 2036, the state NOLs expire starting in 2018 and ending in 2036, and the foreign NOLs expire starting in 2022 and ending in 2037. The utilization of the NOLs is subject to certain limitations. The Company's U.S. federal and state income tax returns generally remain open to examination by taxing authorities until three years after the applicable NOLs have been used or expired. The remaining valuation allowance relates to certain foreign net deferred tax assets (primarily NOLs).
As of December 31, 2017, there were no unrecognized tax benefits that would impact the effective tax rate, if recognized. The aggregate changes in the balance of unrecognized tax benefits are as follows:
 
Years Ended December 31,
 
2017
 
2016
Balance at beginning of year
$
3,080

 
$
6,770

Additions based on prior year tax positions
—

 
116

Reductions as a result of the lapse of statute limitations
(3,080
)
 
(3,806
)
Balance at end of year
$
—

 
$
3,080


From time to time, the Company is subject to examinations by various tax authorities in jurisdictions in which the Company has business operations. At this time, the Company is not subject to an Internal Revenue Service examination. The Australian Taxation Office is conducting an audit of the tax consequences for Australian tax purposes of the Company's sale of CCAL. The Company regularly assesses the likelihood of additional assessments in each of the tax jurisdictions. The Company believes it has adequately provided for uncertain tax positions and does not believe assessments, if any, arising from current or future examination or audits will have a material effect on the Company's financial statements.
As of December 31, 2017, the Company's deferred tax assets are included in "long-term prepaid rent and other assets, net" and the Company's deferred tax liabilities are included in "other long-term liabilities" on the Company's consolidated balance sheet.