XML 63 R43.htm IDEA: XBRL DOCUMENT
v3.21.2

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Summary Of Net Income (Loss) Before Income Taxes | Net income (loss) before income taxes for the years ended December 31, 2018, 2019 and 2020, includes the following components (in thousands):
|  | Year Ended December 31, |
|  | 2018 |  |  | 2019 |  |  | 2020 |
U.S. |  | $ | (286,809 | ) |  | $ | 149,797 |  |  | $ | (118,296 | )
Foreign |  |  | 46,550 |  |  |  | (23,563 | ) |  |  | (17,410 | )
Net income (loss) before income tax |  | $ | (240,259 | ) |  | $ | 126,234 |  |  | $ | (135,706 | )
Summary Of Provision for Benefit From Income Taxes | Provision for (benefit from) income taxes for the years ended December 31, 2018, 2019 and 2020 consist of the following (in thousands):
|  | Year Ended December 31, |
|  | 2018 |  |  | 2019 |  |  | 2020 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 16,905 |  |  | $ | 23,703 |  |  | $ | 20,162 |
State |  |  | 689 |  |  |  | 1,888 |  |  |  | 4,087 |
Foreign |  |  | 1,329 |  |  |  | 568 |  |  |  | 4,027 |
|  |  | 18,923 |  |  |  | 26,159 |  |  |  | 28,276 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federa l |  |  | 993 |  |  |  | (720 | ) |  |  | (29,235 | )
State |  |  | (31 | ) |  |  | (99 | ) |  |  | (4,800 | )
Foreign |  |  | (149 | ) |  |  | (18,146 | ) |  |  | (4,013 | )
|  |  | 813 |  |  |  | (18,965 | ) |  |  | (38,048 | )
Total provision for (benefit from) income taxes |  | $ | 19,736 |  |  | $ | 7,194 |  |  | $ | (9,772 | )
Summary Of Reconciliation Of Federal Statutory Income Tax Rate To The Effective Income Tax Rate | The reconciliation of federal statutory income tax rate to the effective income tax rate is as follows (in thousands):
|  | Year Ended December 31, |
|  | 2018 |  |  | 2019 |  |  | 2020 |
Tax provision (benefit) at U.S. federal statutory rate |  | $ | (50,454 | ) |  | $ | 26,509 |  |  | $ | (28,498 | )
State income taxes, net of federal benefit |  |  | 539 |  |  |  | 1,412 |  |  |  | (1,137 | )
Foreign income taxed at different rates |  |  | (9,690 | ) |  |  | 2,887 |  |  |  | 8,710 |
Change in foreign deferred tax rate |  |  | — |  |  |  | (17,143 | ) |  |  | (6,038 | )
Stock-based compensation |  |  | 830 |  |  |  | 1,671 |  |  |  | 10,347 |
Foreign-derived intangible income |  |  | (6,246 | ) |  |  | (8,600 | ) |  |  | (3,518 | )
Research and development credits |  |  | (933 | ) |  |  | (1,025 | ) |  |  | (2,561 | )
Transaction costs |  |  | — |  |  |  | 428 |  |  |  | 601 |
Extinguishments of acquisition-related contingent consideration |  |  | — |  |  |  | — |  |  |  | 12,237 |
Effect of the Tax Act—transition tax |  |  | 1,074 |  |  |  | — |  |  |  | — |
Global intangible low-taxed income |  |  | 7,453 |  |  |  | — |  |  |  | — |
Note premium costs |  |  | 67,018 |  |  |  | — |  |  |  | — |
Warrant Expense |  |  | 12,259 |  |  |  | — |  |  |  | — |
Other |  |  | (2,114 | ) |  |  | 1,055 |  |  |  | 85 |
Total provision for (benefit from) income taxes |  | $ | 19,736 |  |  | $ | 7,194 |  |  | $ | (9,772 | )
Summary Of Current And Deferred Tax Assets And Liabilities | The following summarizes the current and deferred tax assets and liabilities (in thousands):
|  | As of December 31, |
|  | 2019 |  |  | 2020 |
Deferred tax assets: |  |  |  |  |  |  |  |
Accrued expenses and reserves |  | $ | 1,871 |  |  | $ | 4,757 |
Stock-based compensation |  |  | 1,134 |  |  |  | 1,955 |
Tax credit carryforwards |  |  | 183 |  |  |  | 2,526 |
Federal benefit from state taxes |  |  | 553 |  |  |  | 1,047 |
Net operating loss |  |  | 2,959 |  |  |  | 3,787 |
Interest rate swap |  |  | 1,171 |  |  |  | — |
Embedded derivative |  |  | — |  |  |  | (1,303 | )
Identified intangibles |  |  | 6,028 |  |  |  | 8,996 |
Operating lease liability |  |  | 3,785 |  |  |  | 20,551 |
Valuation allowance |  |  | — |  |  |  | (531 | )
Total deferred tax assets |  |  | 17,684 |  |  |  | 41,785 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | (8,419 | ) |  |  | (6,857 | )
Operating lease right-of-use assets |  |  | (3,270 | ) |  |  | (20,345 | )
Total deferred tax liabilities |  |  | (11,689 | ) |  |  | (27,202 | )
Net deferred tax assets |  | $ | 5,995 |  |  | $ | 14,583 |
Summary Of Activity Related To The Gross Unrecognized Tax Benefits | limitations under IRC Section 382 and similar state provisions. The annual limitation may result in the expiration of the net operating loss carryforwards before utilization. The Company has not provided U.S. income or foreign withholding taxes on the undistributed earnings of its foreign subsidiaries as of December 31, 2019 and 2020, because it intends to permanently reinvest such earnings outside of the U.S. If these foreign earnings were to be repatriated in the future, the related U.S. tax liability will be immaterial, due to the participation exemption put in place in the Tax Act . Uncertain Tax Positions The following table summarizes the activity related to the gross unrecognized tax benefits (in thousands):
|  | As of December 31, |
|  | 2019 |  |  | 2020 |
Balance at beginning of year |  | $ | 2,858 |  |  | $ | 6,646 |
Increases related to prior year positions |  |  | 2,377 |  |  |  | 4,681 |
Increases related to current year positions |  |  | 1,581 |  |  |  | 3,498 |
Decreases related to lapse of statutes |  |  | (170 | ) |  |  | (424 | )
Balance at end of year |  | $ | 6,646 |  |  | $ | 14,401 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32840-109319 + Details
Name: | us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration