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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Taxes [Abstract]

Schedule of Income Before Income Taxes

Income tax data for the years ended December 31, 2017, 2016 and 2015 is as follows (in thousands):

				Year Ended December 31,
				2017			2016			2015
The components of income from operations before income taxes are
	as follows:
	Domestic			$	55,751		$	35,154		$	66,716
	Foreign				585,346			564,960			475,203
		Total		$	641,097		$	600,114		$	541,919

Components of Income Taxes

Income tax data for the years ended December 31, 2017, 2016 and 2015 is as follows (in thousands):

				Year Ended December 31,
				2017			2016			2015
The current and deferred components of the provision for income
	taxes on operations are as follows:
	Current			$	575,276		$	77,407		$	66,285
	Deferred				45,510			1,204			6,581
		Total		$	620,786		$	78,611		$	72,866
The jurisdictional components of the provision for income taxes on
	operations are as follows:
	Federal			$	535,777		$	19,693		$	20,882
	State				26,561			3,090			3,389
	Foreign				58,448			55,828			48,595
		Total		$	620,786		$	78,611		$	72,866

Effective Income Tax Rate Reconciliation

Income tax data for the years ended December 31, 2017, 2016 and 2015 is as follows (in thousands):

				Year Ended December 31,
				2017			2016			2015
The differences between income taxes computed at the United States
	statutory rate and the provision for income taxes are summarized
	as follows:
	Federal tax computed at U.S. statutory income tax rate			$	224,384		$	210,040		$	189,672
	2017 Tax Act				550,000			-			-
	Settlement of tax audits				706			345			(3,258)
	State income tax, net of federal income tax benefit				1,289			2,008			2,601
	Net effect of foreign operations				(134,117)			(133,518)			(112,426)
	Effect of stock-based compensation				(19,566)			-			-
	Other, net				(1,910)			(264)			(3,723)
		Provision for income taxes		$	620,786		$	78,611		$	72,866

Components of Deferred Tax Assets and Liabilities

The tax effects of temporary differences and carryforwards which give rise to deferred tax assets and deferred tax liabilities are summarized as follows (in thousands):

					December 31,
					2017			2016
Deferred tax assets:
	Net operating losses and credits				$	75,630		$	76,027
	Depreciation					5,952			8,310
	Stock-based compensation					9,815			19,609
	Deferred compensation					21,434			24,813
	Revaluation of equity investments and licenses					3,465			4,707
	Inventory					4,864			5,235
	Accrued liabilities and reserves					8,230			8,814
	Other					11,873			15,948
		Total deferred tax assets				141,263			163,463
	Valuation allowance					(62,098)			(61,225)
		Deferred tax assets, net of valuation allowance				79,165			102,238
Deferred tax liabilities:
	Capitalized software					(19,630)			(15,323)
	Amortization					(3,394)			(5,115)
	Indefinite-lived intangibles					(13,254)			(19,680)
	Deferred tax liability on foreign earnings					(21,000)			-
		Total deferred tax liabilities				(57,278)			(40,118)
			Net deferred tax assets		$	21,887		$	62,120

Unrecognized Tax Benefits Roll Forward

The following is a summary of the activity of the Company’s unrecognized tax benefits for the years ended December 31, 2017, 2016 and 2015 (in thousands):

				2017			2016			2015
Balance at the beginning of the period				$	9,964		$	14,450		$	19,596
	Changes resulting from completion of tax examinations				-			(828)			(2,405)
	Other changes in uncertain tax benefits				(4,121)			(3,658)			(2,741)
Balance at the end of the period				$	5,843		$	9,964		$	14,450

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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