XML 63 R43.htm IDEA: XBRL DOCUMENT v3.20.4

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

INCOME TAXES

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

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
​		2020			2019			2018
Domestic*		$	1,374,402		$	1,196,883		$	1,100,487
Foreign*	​	​	251,755	​	​	219,079	​	​	192,785
Income before provision for income taxes		$	1,626,157		$	1,415,962		$	1,293,272

​

*After intercompany royalties, management fees and interest charges from the Company’s domestic to foreign entities of $54.2 million, $51.2 million and $40.5 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Components of the provision for income taxes

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
​		2020			2019			2018
Current:	​	​	​	​	​	​	​	​	​
Federal		$	259,073		$	212,068		$	209,147
State	​	​	43,704	​	​	39,982	​	​	41,934
Foreign	​	​	70,658	​	​	55,167	​	​	42,541
​	​	​	373,435	​	​	307,217	​	​	293,622
​	​	​	​	​	​	​	​	​	​
Deferred:	​	​	​	​	​	​	​	​	​
Federal	​	​	11,401	​	​	8,320	​	​	9,804
State	​	​	4,709	​	​	(6,878)	​	​	1,644
Foreign	​	​	(167,595)	​	​	(4,219)	​	​	(8,778)
​	​	​	(151,485)	​	​	(2,777)	​	​	2,670
​	​	​	​	​	​	​	​	​	​
Valuation allowance	​	​	(5,387)	​	​	3,687	​	​	3,976
​		$	216,563		$	308,127		$	300,268

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

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
​		2020			2019			2018
U.S. Federal tax expense at statutory rates		$	341,493		$	297,352		$	271,587
State income taxes, net of federal tax benefit	​	​	37,478	​	​	30,098	​	​	36,312
Permanent differences	​	​	(1,064)	​	​	(2,128)	​	​	3,606
Stock based compensation	​	​	1,097	​	​	(13,473)	​	​	(370)
Intra-company transfer benefit	​	​	(165,075)	​	​	—	​	​	—
Other	​	​	(7,388)	​	​	(12,423)	​	​	(8,438)
Foreign rate differential	​	​	15,409	​	​	5,014	​	​	(6,405)
Valuation allowance	​	​	(5,387)	​	​	3,687	​	​	3,976
​		$	216,563		$	308,127		$	300,268

Components of the deferred tax assets (liabilities)

​

​	​	​	​	​	​	​
​		2020			2019
Deferred Tax Assets:	​	​	​	​	​	​
Reserve for sales returns		$	275		$	140
Reserve for inventory obsolescence	​	​	2,366	​	​	2,066
Reserve for marketing development fund	​	​	9,629	​	​	8,469
Capitalization of inventory costs	​	​	3,365	​	​	2,310
State franchise tax - current	​	​	4,229	​	​	2,346
Accrued compensation	​	​	1,284	​	​	1,944
Accrued other liabilities	​	​	7,464	​	​	5,674
Deferred revenue	​	​	75,592	​	​	81,903
Stock-based compensation	​	​	23,370	​	​	22,665
Foreign net operating loss carryforward	​	​	21,626	​	​	30,187
Prepaid supplies	​	​	5,551	​	​	5,799
Termination payments	​	​	63,009	​	​	69,467
Operating lease liabilities	​	​	4,434	​	​	6,155
Intangibles	​	​	87,687	​	​	—
Impairment-trademarks and others	​	​	2,055	​	​	—
Other deferred tax assets	​	​	27,164	​	​	17,615
Total gross deferred tax assets		$	339,100		$	256,740
​	​	​	​	​	​	​
Deferred Tax Liabilities:	​	​	​	​	​	​
Amortization of trademarks		$	(42,161)		$	(35,227)
Intangibles	​	​	—	​	​	(76,047)
State franchise tax - deferred	​	​	(6,318)	​	​	(7,173)
Operating lease ROU assets	​	​	(4,434)	​	​	(6,155)
Other deferred tax liabilities	​	​	(58)	​	​	(93)
Depreciation	​	​	(9,363)	​	​	(6,765)
Total gross deferred tax liabilities	​	​	(62,334)	​	​	(131,460)
​	​	​	​	​	​	​
Valuation Allowance	​	​	(35,116)	​	​	(40,503)
​	​	​	​	​	​	​
Net deferred tax assets		$	241,650		$	84,777

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

​

​	​	​	​
​		Gross Unrecognized Tax
​	​	Benefits
Balance at January 1, 2018	​	$	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
Additions for tax positions related to the current year	​	​	—
Additions for tax positions related to the prior year	​	​	1,833
Decreases for tax positions related to prior years	​	​	(3,875)
Balance at December 31, 2019	​	$	2,993
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	​	​	(2,251)
Balance at December 31, 2020	​	$	742

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=84230637&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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=84230637&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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=84230637&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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=84230637&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=84230637&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=84230637&loc=d3e32840-109319

+ Details

Name:	us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration