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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Schedule Of Income Before Provision For Income Taxes | Income before provision for income taxes for the years ended December 31, 2020, 2019, and 2018, consisted of the following (in millions):
| Years Ended December 31,
| 2020 |  | 2019 |  | 2018
U.S. | $ | 926.8 |  |  | $ | 1,053.7 |  |  | $ | 852.7 |
Foreign | 280.2 |  |  | 448.5 |  |  | 426.8 |
Total income before provision for income taxes | $ | 1,207.0 |  |  | $ | 1,502.2 |  |  | $ | 1,279.5 |
Schedule Of Provision For Income Taxes | The provision for income taxes for the years ended December 31, 2020, 2019, and 2018, consisted of the following (in millions):
| Years Ended December 31,
| 2020 |  | 2019 |  | 2018
Current |  |  |  |  |
Federal | $ | 34.2 |  |  | $ | 82.0 |  |  | $ | 89.5 |
State | 21.5 |  |  | 26.5 |  |  | 21.1 |
Foreign | 26.9 |  |  | 18.0 |  |  | 9.9 |
| $ | 82.6 |  |  | $ | 126.5 |  |  | $ | 120.5 |
Deferred |  |  |  |  |
Federal | $ | 23.8 |  |  | $ | 8.5 |  |  | $ | (4.1) |
State | 1.6 |  |  | 3.2 |  |  | (0.3) |
Foreign | 32.2 |  |  | (17.8) |  |  | 38.4 |
| $ | 57.6 |  |  | $ | (6.1) |  |  | $ | 34.0 |
Total income tax expense | $ | 140.2 |  |  | $ | 120.4 |  |  | $ | 154.5 |
Schedule Of Income Tax Difference From The Statutory Rate | Income tax expense differs from amounts computed by applying the statutory federal income rate of 21% for the years ended December 31, 2020, 2019, and 2018, as a result of the following (in millions):
| Years Ended December 31,
| 2020 |  | 2019 |  | 2018
Federal tax at statutory rate | $ | 253.5 |  |  | $ | 315.5 |  |  | $ | 268.7 |
Increase (reduction) in tax resulting from: |  |  |  |  |
State taxes, net of federal benefits | 23.1 |  |  | 29.7 |  |  | 20.8 |
Foreign rate differential | (19.3) |  |  | (56.2) |  |  | (44.7) |
U.S. tax on foreign earnings | 29.3 |  |  | 55.0 |  |  | 43.7 |
Research and development credit | (37.1) |  |  | (32.7) |  |  | (25.2) |
Share-based compensation not benefited | 14.3 |  |  | 13.5 |  |  | 9.9 |
Unrecognized tax benefit related to share-based compensation | 39.3 |  |  | — |  |  | — |
Reversal of unrecognized tax benefits | (4.0) |  |  | (8.4) |  |  | (5.2) |
Excess tax benefits related to share-based compensation | (166.2) |  |  | (146.5) |  |  | (116.2) |
Deferred tax remeasurement due to Swiss Tax Reform | — |  |  | (51.3) |  |  | — |
Other | 7.3 |  |  | 1.8 |  |  | 2.7 |
Total income tax expense | $ | 140.2 |  |  | $ | 120.4 |  |  | $ | 154.5 |
Schedule Of Deferred Tax Assets | Deferred income taxes reflect tax carry forwards and the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities are as follows (in millions):
| December 31,
| 2020 |  | 2019
Deferred tax assets: |  |  |
Net operating losses | $ | 27.7 |  |  | $ | 5.1 |
Share-based compensation expense | 101.1 |  |  | 95.6 |
Lease liabilities | $ | 12.0 |  |  | $ | 17.0 |
Expenses deducted in later years for tax purposes | 29.3 |  |  | 25.0 |
Intangible assets | 321.8 |  |  | 362.3 |
Research and other credits | 76.3 |  |  | 56.1 |
Other | — |  |  | 5.3 |
Gross deferred tax assets | $ | 568.2 |  |  | $ | 566.4 |
Valuation allowance | (81.4) |  |  | (57.2) |
Deferred tax assets | $ | 486.8 |  |  | $ | 509.2 |
Deferred tax liabilities: |  |  |
Fixed assets | $ | (91.1) |  |  | $ | (58.3) |
Right-of-use assets | (8.4) |  |  | (17.0) |
Intangible assets | (10.1) |  |  | (8.3) |
Other | (13.2) |  |  | — |
Deferred tax liabilities | $ | (122.8) |  |  | $ | (83.6) |
Net deferred tax assets | $ | 364.0 |  |  | $ | 425.6 |

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- 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=84230637&loc=d3e32537-109319 + Details
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