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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
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):
|  | 2022 |  | 2021 |  | 2020
United States |  | $ | 506,214 |  |  | $ | 515,041 |  |  | $ | 457,090 |
Foreign |  | 769,446 |  |  | 593,767 |  |  | 425,435 |
Total |  | $ | 1,275,660 |  |  | $ | 1,108,808 |  |  | $ | 882,525 |
Components of Income Taxes | The provision for income taxes for the years ended December 31 consists of the following (in thousands):
|  | 2022 |  | 2021 |  | 2020
Current: |  |  |  |  |  |
Federal |  | $ | 166,172 |  |  | $ | 118,861 |  |  | $ | 71,123 |
State |  | 34,947 |  |  | 31,674 |  |  | 19,597 |
Foreign |  | 153,388 |  |  | 107,751 |  |  | 71,921 |
Total current |  | 354,507 |  |  | 258,286 |  |  | 162,641 |
Deferred: |  |  |  |  |  |
Federal |  | (36,613) |  |  | (12,165) |  |  | 143 |
State |  | (6,066) |  |  | (4,540) |  |  | (4,323) |
Foreign |  | 9,505 |  |  | 27,730 |  |  | 19,848 |
Total deferred |  | (33,174) |  |  | 11,025 |  |  | 15,668 |
Total provision |  | $ | 321,333 |  |  | $ | 269,311 |  |  | $ | 178,309 |
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 2022, 2021, and 2020, respectively, to income before income taxes for the years ended December 31, 2022, 2021, and 2020 due to the following (in thousands):
|  | 2022 |  | 2021 |  | 2020
Computed “expected” tax expense |  | $ | 267,889 |  |  | 21.0 | % |  | $ | 232,850 |  |  | 21.0 | % |  | $ | 185,330 |  |  | 21.0 | %
Changes resulting from: |  |  |  |  |  |  |  |  |  |  |  |
Change in valuation allowance |  | 22,399 |  |  | 1.8 |  |  | 1,378 |  |  | 0.1 |  |  | 25,932 |  |  | 2.9 |
Foreign income tax differential |  | 566 |  |  | — |  |  | (10,326) |  |  | (0.9) |  |  | (20,852) |  |  | (2.3) |
State taxes net of federal benefits |  | 12,745 |  |  | 1.0 |  |  | 18,352 |  |  | 1.7 |  |  | 7,489 |  |  | 0.8 |
Increase in tax expense due to uncertain tax positions |  | 8,257 |  |  | 0.6 |  |  | 8,185 |  |  | 0.7 |  |  | 14,848 |  |  | 1.7 |
Foreign withholding tax |  | 13,547 |  |  | 1.1 |  |  | 9,143 |  |  | 0.8 |  |  | 15,630 |  |  | 1.8 |
Change in indefinite reinvestment - Russia |  | (9,049) |  |  | (0.7) |  |  | — |  |  | — |  |  | — |  |  | — |
Excess tax benefits related to stock-based compensation |  | (10,000) |  |  | (0.8) |  |  | (16,304) |  |  | (1.5) |  |  | (58,942) |  |  | (6.7) |
Sub-part F Income/GILTI |  | 79,420 |  |  | 6.2 |  |  | 72,449 |  |  | 6.5 |  |  | 34,990 |  |  | 4.0 |
Foreign tax credits |  | (73,974) |  |  | (5.8) |  |  | (63,926) |  |  | (5.8) |  |  | (30,497) |  |  | (3.5) |
Foreign source non-deductible interest |  | 9,462 |  |  | 0.7 |  |  | 10,348 |  |  | 0.9 |  |  | 6,986 |  |  | 0.8 |
IRC section 162(m) adjustment |  | 8,119 |  |  | 0.6 |  |  | 3,665 |  |  | 0.3 |  |  | 1,393 |  |  | 0.2 |
Brazil tourism tax benefit |  | (13,810) |  |  | (1.1) |  |  | — |  |  | — |  |  | — |  |  | — |
Other |  | 5,762 |  |  | 0.5 |  |  | 3,497 |  |  | 0.3 |  |  | (3,998) |  |  | (0.5) |
Provision for income taxes |  | $ | 321,333 |  |  | 25.2 | % |  | $ | 269,311 |  |  | 24.3 | % |  | $ | 178,309 |  |  | 20.2 | %
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):
|  | 2022 |  | 2021
Deferred tax assets: |  |  |  |
Accounts receivable, principally due to the allowance for credit losses |  | $ | 19,508 |  |  | $ | 13,987 |
Accrued expenses not currently deductible for tax |  | 7,307 |  |  | 6,252 |
Lease deferral |  | 18,146 |  |  | 20,349 |
Interest rate swap |  | — |  |  | 7,621 |
Stock based compensation |  | 41,202 |  |  | 39,658 |
Income tax credits |  | 62,512 |  |  | 51,264 |
Net operating loss carry forwards |  | 81,580 |  |  | 76,988 |
Accrued escheat |  | 3,286 |  |  | 3,170 |
Other |  | 28,773 |  |  | 10,078 |
Deferred tax assets before valuation allowance |  | 262,314 |  |  | 229,367 |
Valuation allowance |  | (117,379) |  |  | (94,601) |
Deferred tax assets, net |  | 144,935 |  |  | 134,766 |
Deferred tax liabilities: |  |  |  |
Intangibles—including goodwill |  | (504,590) |  |  | (520,349) |
Basis difference in investment in subsidiaries |  | (42,091) |  |  | (42,938) |
Interest rate swap |  | (2,964) |  |  | — |
Lease deferral |  | (15,428) |  |  | (17,739) |
Accrued expense liability |  | (742) |  |  | (795) |
Prepaid expenses |  | (1,713) |  |  | (1,788) |
Withholding taxes |  | (31,448) |  |  | (38,704) |
Property and equipment and other |  | (72,076) |  |  | (76,810) |
Deferred tax liabilities |  | (671,052) |  |  | (699,123) |
Net deferred tax liabilities |  | $ | (526,117) |  |  | $ | (564,357) |
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):
|  | 2022 |  | 2021
Long term deferred tax assets and liabilities: |  |  |  |
Long term deferred tax assets |  | $ | 1,348 |  |  | $ | 1,934 |
Long term deferred tax liabilities |  | (527,465) |  |  | (566,291) |
Net deferred tax liabilities |  | $ | (526,117) |  |  | $ | (564,357) |
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, 2022, 2021, and 2020 is as follows (in thousands):
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 settlement/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 |
Additions based on tax provisions related to the current year |  | 7,752 |
Additions based on tax provisions related to the prior year |  | 200 |
Deductions based on expiration of prior year tax positions |  | (1,550) |
Addition for cumulative federal benefit of state tax deductions |  | 7,281 |
Change due to OCI |  | (35) |
Unrecognized tax benefits at December 31, 2022 |  | $ | 60,669 |

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