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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
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):
|  | 2021 |  | 2020 |  | 2019
United States |  | $ | 515,041 |  |  | $ | 457,090 |  |  | $ | 505,818 |
Foreign |  | 593,767 |  |  | 425,435 |  |  | 572,001 |
Total |  | $ | 1,108,808 |  |  | $ | 882,525 |  |  | $ | 1,077,819 |
Components of Income Taxes | The provision for income taxes for the years ended December 31 consists of the following (in thousands):
|  | 2021 |  | 2020 |  | 2019
Current: |  |  |  |  |  |
Federal |  | $ | 118,861 |  |  | $ | 71,123 |  |  | $ | 50,145 |
State |  | 31,674 |  |  | 19,597 |  |  | 10,285 |
Foreign |  | 107,751 |  |  | 71,921 |  |  | 84,433 |
Total current |  | 258,286 |  |  | 162,641 |  |  | 144,863 |
Deferred: |  |  |  |  |  |
Federal |  | (12,165) |  |  | 143 |  |  | (10,479) |
State |  | (4,540) |  |  | (4,323) |  |  | 3,745 |
Foreign |  | 27,730 |  |  | 19,848 |  |  | 44,617 |
Total deferred |  | 11,025 |  |  | 15,668 |  |  | 37,883 |
Total provision |  | $ | 269,311 |  |  | $ | 178,309 |  |  | $ | 182,746 |
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 2021, 2020, and 2019, respectively, to income before income taxes for the years ended December 31, 2021, 2020 and 2019 due to the following (in thousands):
|  | 2021 |  | 2020 |  | 2019
Computed “expected” tax expense |  | $ | 232,850 |  |  | 21.0 | % |  | $ | 185,330 |  |  | 21.0 | % |  | $ | 226,342 |  |  | 21.0 | %
Changes resulting from: |  |  |  |  |  |  |  |  |  |  |  |
Change in valuation allowance |  | 1,378 |  |  | 0.1 |  |  | 25,932 |  |  | 2.9 |  |  | (28,614) |  |  | (2.7) |
Foreign income tax differential |  | (10,326) |  |  | (0.9) |  |  | (20,852) |  |  | (2.3) |  |  | (15,816) |  |  | (1.4) |
State taxes net of federal benefits |  | 18,352 |  |  | 1.7 |  |  | 7,489 |  |  | 0.8 |  |  | 12,482 |  |  | 1.2 |
Increase in tax expense due to uncertain tax positions |  | 8,185 |  |  | 0.7 |  |  | 14,848 |  |  | 1.7 |  |  | — |  |  | — |
Foreign withholding tax |  | 9,143 |  |  | 0.8 |  |  | 15,630 |  |  | 1.8 |  |  | 20,360 |  |  | 1.9 |
Excess tax benefits related to stock-based compensation |  | (16,304) |  |  | (1.5) |  |  | (58,942) |  |  | (6.7) |  |  | (38,156) |  |  | (3.5) |
Revaluation of capital loss deferred tax asset |  | — |  |  | — |  |  | — |  |  | — |  |  | (24,279) |  |  | (2.3) |
Sub-part F Income/GILTI |  | 72,449 |  |  | 6.5 |  |  | 34,990 |  |  | 4.0 |  |  | 49,859 |  |  | 4.6 |
Foreign tax credits |  | (63,926) |  |  | (5.8) |  |  | (30,497) |  |  | (3.5) |  |  | (38,657) |  |  | (3.6) |
Other |  | 17,510 |  |  | 1.6 |  |  | 4,381 |  |  | 0.5 |  |  | 19,225 |  |  | 1.8 |
Provision for income taxes |  | $ | 269,311 |  |  | 24.3 | % |  | $ | 178,309 |  |  | 20.2 | % |  | $ | 182,746 |  |  | 17.0 | %
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):
|  | 2021 |  | 2020
Deferred tax assets: |  |  |  |
Accounts receivable, principally due to the allowance for doubtful accounts |  | $ | 13,987 |  |  | $ | 10,515 |
Accrued expenses not currently deductible for tax |  | 6,252 |  |  | 3,442 |
Lease deferral |  | 20,349 |  |  | 23,506 |
Interest rate swap |  | 7,621 |  |  | 21,792 |
Stock based compensation |  | 39,658 |  |  | 36,015 |
Income tax credits |  | 51,264 |  |  | 51,264 |
Net operating loss carry forwards |  | 76,988 |  |  | 83,372 |
Accrued escheat |  | 3,170 |  |  | 3,567 |
Other |  | 10,078 |  |  | 11,711 |
Deferred tax assets before valuation allowance |  | 229,367 |  |  | 245,184 |
Valuation allowance |  | (94,601) |  |  | (90,340) |
Deferred tax assets, net |  | 134,766 |  |  | 154,844 |
Deferred tax liabilities: |  |  |  |
Intangibles—including goodwill |  | (520,349) |  |  | (481,388) |
Basis difference in investment in subsidiaries |  | (42,938) |  |  | (42,313) |
Lease deferral |  | (17,739) |  |  | (19,977) |
Accrued Expense Liability |  | (795) |  |  | (513) |
Prepaid expenses |  | (1,788) |  |  | (2,126) |
Withholding taxes |  | (38,704) |  |  | (30,488) |
Property and equipment and other |  | (76,810) |  |  | (71,342) |
Deferred tax liabilities |  | (699,123) |  |  | (648,147) |
Net deferred tax liabilities |  | $ | (564,357) |  |  | $ | (493,303) |
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):
|  | 2021 |  | 2020
Long term deferred tax assets and liabilities: |  |  |  |
Long term deferred tax assets |  | $ | 1,934 |  |  | $ | 4,851 |
Long term deferred tax liabilities |  | (566,291) |  |  | (498,154) |
Net deferred tax liabilities |  | $ | (564,357) |  |  | $ | (493,303) |
Summary of Valuation Allowance |
Reconciliation of Unrecognized Tax Benefits | A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits excluding interest and penalties for the years ended December 31, 2021, 2020 and 2019 is as follows (in thousands):
Unrecognized tax benefits at December 31, 2018 |  | $ | 34,152 |
Additions based on tax provisions related to the current year |  | 4,284 |
Additions based on tax provisions related to the prior year |  | 11,679 |
Deductions based on settlement/expiration of prior year tax positions |  | (7,342) |
Unrecognized tax benefits at December 31, 2019 |  | 42,773 |
Additions based on tax provisions related to the current year |  | 6,412 |
Additions based on tax provisions related to the prior year |  | 13,532 |
Deduction of cumulative interest and penalties |  | (12,508) |
Deductions based on expiration of prior year tax positions |  | (14,460) |
Unrecognized tax benefits at December 31, 2020 |  | 35,749 |
Additions based on tax provisions related to the current year |  | 8,543 |
Additions based on tax provisions related to the prior year |  | 5,909 |
Deductions based on settlement of prior year tax positions |  | (2,122) |
Deductions based on expiration of prior year tax positions |  | (1,058) |
Unrecognized tax benefits at December 31, 2021 |  | $ | 47,021 |

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