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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2018
Income Tax Disclosure [Abstract] |
Income Before The Provision for Income Taxes | Income before the provision for income taxes is attributable to the following jurisdictions for years ended December 31 (in thousands) :
|  | 2018 |  | 2017 |  | 2016
United States |  | $ | 622,214 |  |  | $ | 524,669 |  |  | $ | 383,427 |
Foreign |  | 472,911 |  |  | 368,921 |  |  | 259,492 |
Total |  | $ | 1,095,125 |  |  | $ | 893,590 |  |  | $ | 642,919 |
Components of Income Taxes | The provision for income taxes for the years ended December 31 consists of the following (in thousands):
|  | 2018 |  | 2017 |  | 2016
Current: |  |  |  |  |  |
Federal |  | $ | 165,303 |  |  | $ | 303,514 |  |  | $ | 147,406 |
State |  | 26,036 |  |  | 19,234 |  |  | 10,725 |
Foreign |  | 95,053 |  |  | 78,354 |  |  | 61,084 |
Total current |  | 286,392 |  |  | 401,102 |  |  | 219,215 |
Deferred: |  |  |  |  |  |
Federal |  | (19,688 | ) |  | (255,188 | ) |  | (18,723 | )
State |  | 8,727 |  |  | 276 |  |  | 1,608 |
Foreign |  | 8,211 |  |  | 7,200 |  |  | (11,566 | )
Total deferred |  | (2,750 | ) |  | (247,712 | ) |  | (28,681 | )
Total provision |  | $ | 283,642 |  |  | $ | 153,390 |  |  | $ | 190,534 |
Summary of Provision for Income Taxes and U.S. Federal Tax Rate | The provision for income taxes differs from amounts computed by applying the U.S. federal tax rate of 21% for 2018 and 35%, for 2017 and 2016, respectively, to income before income taxes for the years ended December 31, 2018, 2017 and 2016 due to the following (in thousands):
|  | 2018 |  | 2017 |  | 2016
Computed “expected” tax expense |  | $ | 229,976 |  |  | 21.0 | % |  | $ | 312,756 |  |  | 35.0 | % |  | $ | 225,022 |  |  | 35.0 | %
Changes resulting from: |  |  |  |  |  |  |  |  |  |  |  |
Change in valuation allowance |  | 25,193 |  |  | 2.8 |  |  | 18,289 |  |  | 2.0 |  |  | 11,952 |  |  | 1.9 |
Foreign income tax differential |  | 9,921 |  |  | 0.9 |  |  | (38,695 | ) |  | (4.3 | ) |  | (25,533 | ) |  | (4.0 | )
State taxes net of federal benefits |  | 20,480 |  |  | 1.9 |  |  | 12,884 |  |  | 1.4 |  |  | 9,439 |  |  | 1.5 |
Foreign-sourced nontaxable income |  | (28,861 | ) |  | (2.6 | ) |  | (8,836 | ) |  | (1.0 | ) |  | (13,659 | ) |  | (1.2 | )
Foreign Withholding Tax |  | 20,569 |  |  | 1.9 |  |  | 9,362 |  |  | 1.0 |  |  | 5,698 |  |  | — |
IRC Section 199 deduction |  | — |  |  | — |  |  | (8,844 | ) |  | (1.0 | ) |  | (7,731 | ) |  | (1.2 | )
Excess Tax Benefits Related to Stock-Based Compensation |  | (19,255 | ) |  | (1.8 | ) |  | (18,058 | ) |  | (2.0 | ) |  | (11,974 | ) |  | (1.9 | )
Impact of the Tax Act: |  |  |  |  |  |  |  |  |  |  |  |
One-Time Transition Tax |  | — |  |  | — |  |  | 195,779 |  |  | 21.9 |  |  | — |  |  | — |
Foreign Tax Credit - One-Time Transition Tax |  | 17,385 |  |  | 1.6 |  |  | (113,955 | ) |  | (12.8 | ) |  | — |  |  | — |
Deferred Tax Effects |  | 7,128 |  |  | 0.1 |  |  | (209,965 | ) |  | (23.5 | ) |  | — |  |  | — |
Sub-part F Income/GILTI |  | 40,200 |  |  | 3.7 |  |  | 3,741 |  |  | 0.4 |  |  | — |  |  | — |
Foreign Tax Credits |  | (52,095 | ) |  | (4.8 | ) |  | — |  |  | — |  |  | — |  |  | — |
Other |  | 13,001 |  |  | 1.2 |  |  | (1,068 | ) |  | 0.1 |  |  | (2,680 | ) |  | (0.4 | )
Provision for income taxes |  | $ | 283,642 |  |  | 25.9 | % |  | $ | 153,390 |  |  | 17.2 | % |  | $ | 190,534 |  |  | 29.7 | %
Summary of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities at December 31 are as follows (in thousands):
|  | 2018 |  | 2017
Deferred tax assets: |  |  |  |
Accounts receivable, principally due to the allowance for doubtful accounts |  | $ | 8,518 |  |  | $ | 6,752 |
Accrued expenses not currently deductible for tax |  | 6,734 |  |  | 442 |
Stock based compensation |  | 40,081 |  |  | 37,274 |
Income tax credits |  | 26,770 |  |  | 376 |
Net operating loss carry forwards |  | 53,221 |  |  | 41,168 |
Investments |  | 39,062 |  |  | 37,804 |
Accrued escheat |  | 3,608 |  |  | 4,768 |
Other |  | 4,240 |  |  | 12,604 |
Deferred tax assets before valuation allowance |  | 182,234 |  |  | 141,188 |
Valuation allowance |  | (90,366 | ) |  | (59,349 | )
Deferred tax assets, net |  | 91,868 |  |  | 81,839 |
Deferred tax liabilities: |  |  |  |
Intangibles—including goodwill |  | (483,361 | ) |  | (508,958 | )
Basis difference in investment in foreign subsidiaries |  | (38,200 | ) |  | (39,287 | )
Property and equipment, prepaid expenses and other |  | (59,101 | ) |  | (50,705 | )
Deferred tax liabilities |  | (580,662 | ) |  | (598,950 | )
Net deferred tax liabilities |  | $ | (488,794 | ) |  | $ | (517,111 | )
Deferred Tax Balance Classification in Balance Sheet | The Company’s deferred tax balances are classified in its balance sheets as of December 31 as follows (in thousands):
|  | 2018 |  | 2017
Long term deferred tax assets and liabilities: |  |  |  |
Long term deferred tax assets |  | $ | 3,152 |  |  | $ | 1,801 |
Long term deferred tax liabilities |  | (491,946 | ) |  | (518,912 | )
Net deferred tax liabilities |  | $ | (488,794 | ) |  | $ | (517,111 | )
Summary of Valuation Allowance | The valuation allowance for deferred tax assets changed during 2018 as follows (in thousands):
Balance at December 31, 2015 |  | $ | 62,605 |
Additions |  | 13,790 |
Balance at December 31, 2016 |  | 76,395 |
Additions |  | 5,332 |
Reduction in valuation allowance due to rate change from Tax Act |  | (22,378 | )
Balance at December 31, 2017 |  | 59,349 |
Additions based on changes in deferred tax assets |  | 25,193 |
Increase in valuation allowance due to rate change from Tax Act |  | 5,824 |
Balance at December 31, 2018 |  | $ | 90,366 |
Reconciliation of Unrecognized Tax Benefits | A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits including interest and penalties for the years ended December 31, 2018, 2017 and 2016 is as follows (in thousands):
Unrecognized tax benefits at December 31, 2015 |  | $ | 21,834 |
Additions based on tax provisions related to the current year |  | 3,332 |
Additions based on tax provisions related to the prior year |  | 2,496 |
Deductions based on settlement/expiration of prior year tax positions |  | (1,507 | )
Unrecognized tax benefits at December 31, 2016 |  | 26,155 |
Additions based on tax provisions related to the current year |  | 4,143 |
Additions for tax positions due to acquisitions |  | 9,208 |
Additions based on tax provisions related to the prior year |  | 1,171 |
Deductions based on settlement/expiration of prior year tax positions |  | (9,119 | )
Unrecognized tax benefits at December 31, 2017 |  | 31,558 |
Additions based on tax provisions related to the current year |  | 3,755 |
Additions based on tax provisions related to the prior year |  | 3,000 |
Deductions based on settlement/expiration of prior year tax positions |  | (4,161 | )
Unrecognized tax benefits at December 31, 2018 |  | $ | 34,152 |

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