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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2018

INCOME TAXES

Schedule of domestic and foreign components of the income before provision for income taxes

		Year Ended December 31,
		2018			2017			2016
Domestic*		$	1,100,487		$	1,062,713		$	1,029,763
Foreign*			192,785			138,910			49,922
Income before provision for income taxes		$	1,293,272		$	1,201,623		$	1,079,685

*After intercompany royalties, management fees and interest charges from the Company’s domestic to foreign entities of $40.5 million, $42.5 million and $25.6 million for the years ended December 31, 2018, 2017 and 2016, respectively.

Components of the provision for income taxes

		Year Ended December 31,
		2018			2017			2016
Current:
Federal		$	209,147		$	243,127		$	212,283
State			41,934			43,252			35,756
Foreign			42,541			27,522			17,171
			293,622			313,901			265,210
Deferred:
Federal			9,804			61,797			87,360
State			1,644			3,062			15,254
Foreign			(8,778)			(4,579)			(9,709)
			2,670			60,280			92,905
Valuation allowance			3,976			6,764			8,885
		$	300,268		$	380,945		$	367,000

Schedule of reconciliation of income taxes computed at statutory federal rate to total income taxes

		Year Ended December 31,
		2018			2017			2016
U.S. Federal tax expense at statutory rates		$	271,587		$	420,568		$	377,599
State income taxes, net of federal tax benefit			36,312			27,569			33,148
Permanent differences			3,606			10,356			954
Stock based compensation			(370)			(79,687)			(13,654)
Domestic production deduction			—			(22,229)			(21,447)
Deferred tax asset reduction (Tax Reform Act)			—			39,763			—
Other			(8,438)			3,736			(8,765)
Foreign rate differential			(6,405)			(25,895)			(9,720)
Valuation allowance			3,976			6,764			8,885
		$	300,268		$	380,945		$	367,000

Components of the deferred tax assets (liabilities)

		2018			2017
Deferred Tax Assets:
Reserve for sales returns		$	137		$	159
Reserve for inventory obsolescence			2,836			522
Reserve for marketing development fund			4,666			6,360
Capitalization of inventory costs			1,210			1,598
State franchise tax - current			2,663			2,050
Accrued compensation			574			1,473
Accrued other liabilities			5,276			3,917
Deferred revenue			87,573			93,321
Stock-based compensation			25,439			21,119
Foreign net operating loss carryforward			28,030			28,965
Prepaid supplies			7,476			7,273
Termination payments			71,918			70,637
Gain on intercompany transfer			—			6,793
Other deferred tax assets			11,010			3,449
Total gross deferred tax assets		$	248,808		$	247,636
Deferred Tax Liabilities:
Amortization of trademarks		$	(31,445)		$	(21,657)
Intangibles			(82,544)			(84,867)
State franchise tax - deferred			(7,093)			(7,617)
Other deferred tax liabilities			(99)			(62)
Depreciation			(5,123)			(8,260)
Total gross deferred tax liabilities			(126,304)			(122,463)
Valuation Allowance			(36,816)			(32,840)
Net deferred tax assets		$	85,688		$	92,333

Schedule of roll-forward of the total gross unrecognized tax benefits, not including interest and penalties

		Gross Unrealized Tax
		Benefits
Balance at January 1, 2016		$	471
Additions for tax positions related to the current year			—
Additions for tax positions related to the prior year			—
Decreases for tax positions related to prior years			(462)
Balance at December 31, 2016		$	9
Additions for tax positions related to the current year			—
Additions for tax positions related to the prior year			6,540
Decreases for tax positions related to prior years			(9)
Balance at December 31, 2017		$	6,540
Additions for tax positions related to the current year			—
Additions for tax positions related to the prior year			1,159
Decreases for tax positions related to prior years			(2,664)
Balance at December 31, 2018		$	5,035

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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.

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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 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.

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