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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2021
INCOME TAXES |
Schedule of domestic and foreign components of the income before provision for income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2021 |  | 2020 |  | 2019
Domestic* |  | $ | 1,431,797 |  | $ | 1,374,402 |  | $ | 1,196,883
Foreign* | ​ | ​ | 369,622 | ​ | ​ | 251,755 | ​ | ​ | 219,079
Income before provision for income taxes |  | $ | 1,801,419 |  | $ | 1,626,157 |  | $ | 1,415,962
​ *After intercompany royalties, management fees and interest charges from the Company’s domestic to foreign entities of $61.1 million, $54.2 million and $51.2 million for the years ended December 31, 2021, 2020 and 2019, respectively.
Components of the provision for income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2021 |  | 2020 |  | 2019
Current: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal |  | $ | 273,115 |  | $ | 259,073 |  | $ | 212,068
State | ​ | ​ | 44,990 | ​ | ​ | 43,704 | ​ | ​ | 39,982
Foreign | ​ | ​ | 89,410 | ​ | ​ | 70,658 | ​ | ​ | 55,167
​ | ​ | ​ | 407,515 | ​ | ​ | 373,435 | ​ | ​ | 307,217
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | ​ | 14,750 | ​ | ​ | 11,401 | ​ | ​ | 8,320
State | ​ | ​ | 4,689 | ​ | ​ | 4,709 | ​ | ​ | (6,878)
Foreign | ​ | ​ | 5,092 | ​ | ​ | (167,595) | ​ | ​ | (4,219)
​ | ​ | ​ | 24,531 | ​ | ​ | (151,485) | ​ | ​ | (2,777)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Valuation allowance | ​ | ​ | (8,102) | ​ | ​ | (5,387) | ​ | ​ | 3,687
​ |  | $ | 423,944 |  | $ | 216,563 |  | $ | 308,127
Schedule of reconciliation of income taxes computed at statutory federal rate to total income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2021 |  | 2020 |  | 2019
U.S. Federal tax expense at statutory rates |  | $ | 378,298 |  | $ | 341,493 |  | $ | 297,352
State income taxes, net of federal tax benefit | ​ | ​ | 38,894 | ​ | ​ | 37,478 | ​ | ​ | 30,098
Permanent differences | ​ | ​ | (4,168) | ​ | ​ | (1,064) | ​ | ​ | (2,128)
Stock based compensation | ​ | ​ | 2,790 | ​ | ​ | 1,097 | ​ | ​ | (13,473)
Intra-company transfer benefit | ​ | ​ | — | ​ | ​ | (165,075) | ​ | ​ | —
Other | ​ | ​ | (649) | ​ | ​ | (7,388) | ​ | ​ | (12,423)
Foreign rate differential | ​ | ​ | 16,881 | ​ | ​ | 15,409 | ​ | ​ | 5,014
Valuation allowance | ​ | ​ | (8,102) | ​ | ​ | (5,387) | ​ | ​ | 3,687
​ |  | $ | 423,944 |  | $ | 216,563 |  | $ | 308,127
Components of the deferred tax assets (liabilities) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2021 |  | 2020
Deferred Tax Assets: | ​ | ​ | ​ | ​ | ​ | ​
Reserve for sales returns |  | $ | 889 |  | $ | 275
Reserve for inventory obsolescence | ​ | ​ | 3,643 | ​ | ​ | 2,366
Reserve for marketing development fund | ​ | ​ | 8,951 | ​ | ​ | 9,629
Capitalization of inventory costs | ​ | ​ | 2,533 | ​ | ​ | 3,365
State franchise tax - current | ​ | ​ | 2,493 | ​ | ​ | 4,229
Accrued compensation | ​ | ​ | 2,854 | ​ | ​ | 1,284
Accrued other liabilities | ​ | ​ | 4,634 | ​ | ​ | 7,464
Deferred revenue | ​ | ​ | 68,557 | ​ | ​ | 75,592
Stock-based compensation | ​ | ​ | 24,635 | ​ | ​ | 23,370
Foreign net operating loss carryforward | ​ | ​ | 14,507 | ​ | ​ | 21,626
Prepaid supplies | ​ | ​ | 6,317 | ​ | ​ | 5,551
Termination payments | ​ | ​ | 58,042 | ​ | ​ | 63,009
Operating lease liabilities | ​ | ​ | 4,711 | ​ | ​ | 4,434
Intangibles | ​ | ​ | 72,666 | ​ | ​ | 87,687
Impairment-trademarks and others | ​ | ​ | 2,047 | ​ | ​ | 2,055
Other deferred tax assets | ​ | ​ | 33,013 | ​ | ​ | 27,164
Total gross deferred tax assets |  | $ | 310,492 |  | $ | 339,100
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred Tax Liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Amortization of trademarks |  | $ | (41,517) |  | $ | (42,161)
State franchise tax - deferred | ​ | ​ | (5,505) | ​ | ​ | (6,318)
Operating lease ROU assets | ​ | ​ | (4,711) | ​ | ​ | (4,434)
Other deferred tax liabilities | ​ | ​ | (618) | ​ | ​ | (58)
Depreciation | ​ | ​ | (5,907) | ​ | ​ | (9,363)
Total gross deferred tax liabilities | ​ | ​ | (58,258) | ​ | ​ | (62,334)
​ | ​ | ​ | ​ | ​ | ​ | ​
Valuation Allowance | ​ | ​ | (27,013) | ​ | ​ | (35,116)
​ | ​ | ​ | ​ | ​ | ​ | ​
Net deferred tax assets |  | $ | 225,221 |  | $ | 241,650
Schedule of roll-forward of the total gross unrecognized tax benefits, not including interest and penalties | ​
​ | ​ | ​ | ​
​ |  | Gross Unrecognized Tax
​ | ​ | Benefits
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
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 | ​ |  | (742)
Balance at December 31, 2021 | ​ | $ | —

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