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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2023
INCOME TAXES |
Schedule of domestic and foreign components of the income before provision for income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2023 |  | 2022 |  | 2021
Domestic* |  | $ | 1,809,418 |  | $ | 1,327,459 |  | $ | 1,431,797
Foreign* | ​ | ​ | 259,064 | ​ | ​ | 244,505 | ​ | ​ | 369,622
Income before provision for income taxes |  | $ | 2,068,482 |  | $ | 1,571,964 |  | $ | 1,801,419
​ *After intercompany royalties, management fees and interest charges from the Company’s domestic to foreign entities of $101.4 million, $85.0 million and $61.1 million for the years ended December 31, 2023, 2022 and 2021, respectively.
Schedule of components of the provision for income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2023 |  | 2022 |  | 2021
Current: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal |  | $ | 259,911 |  | $ | 247,482 |  | $ | 273,115
State | ​ | ​ | 47,079 | ​ | ​ | 47,255 | ​ | ​ | 44,990
Foreign | ​ | ​ | 99,563 | ​ | ​ | 37,421 | ​ | ​ | 89,410
​ | ​ | ​ | 406,553 | ​ | ​ | 332,158 | ​ | ​ | 407,515
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | ​ | 42,237 | ​ | ​ | 19,111 | ​ | ​ | 14,750
State | ​ | ​ | 2,376 | ​ | ​ | 258 | ​ | ​ | 4,689
Foreign | ​ | ​ | (13,936) | ​ | ​ | 26,084 | ​ | ​ | 5,092
​ | ​ | ​ | 30,677 | ​ | ​ | 45,453 | ​ | ​ | 24,531
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Valuation allowance | ​ | ​ | 264 | ​ | ​ | 2,729 | ​ | ​ | (8,102)
​ |  | $ | 437,494 |  | $ | 380,340 |  | $ | 423,944
Schedule of reconciliation of income taxes computed at statutory federal rate to total income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2023 |  | 2022 |  | 2021
U.S. Federal tax expense at statutory rates |  | $ | 434,381 |  | $ | 330,113 |  | $ | 378,298
State income taxes, net of federal tax benefit | ​ | ​ | 39,416 | ​ | ​ | 35,848 | ​ | ​ | 38,894
Permanent differences | ​ | ​ | (27,235) | ​ | ​ | (5,450) | ​ | ​ | (4,168)
Stock-based compensation | ​ | ​ | (43,846) | ​ | ​ | 3,571 | ​ | ​ | 2,790
Residual tax on undistributed foreign earnings | ​ | ​ | 8,423 | ​ | ​ | — | ​ | ​ | —
Other | ​ | ​ | (5,132) | ​ | ​ | 1,371 | ​ | ​ | (649)
Foreign rate differential | ​ | ​ | 31,223 | ​ | ​ | 12,158 | ​ | ​ | 16,881
Valuation allowance | ​ | ​ | 264 | ​ | ​ | 2,729 | ​ | ​ | (8,102)
​ |  | $ | 437,494 |  | $ | 380,340 |  | $ | 423,944
Schedule of components of the deferred tax assets (liabilities) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022
Deferred Tax Assets: | ​ | ​ | ​ | ​ | ​ | ​
Reserve for sales returns |  | $ | 1,438 |  | $ | 2,262
Reserve for inventory obsolescence | ​ | ​ | 4,022 | ​ | ​ | 4,651
Reserve for marketing development fund | ​ | ​ | 8,358 | ​ | ​ | 7,487
Capitalization of inventory costs | ​ | ​ | 12,159 | ​ | ​ | 6,537
State franchise tax - current | ​ | ​ | 2,511 | ​ | ​ | 2,339
Accrued compensation | ​ | ​ | 12,413 | ​ | ​ | 10,499
Accrued other liabilities | ​ | ​ | 1,729 | ​ | ​ | 1,820
Deferred revenue | ​ | ​ | 58,156 | ​ | ​ | 63,196
Stock-based compensation | ​ | ​ | 19,093 | ​ | ​ | 25,526
Foreign net operating loss carryforward | ​ | ​ | 27,000 | ​ | ​ | 19,896
Prepaid supplies | ​ | ​ | 10,567 | ​ | ​ | 7,901
Termination payments | ​ | ​ | 46,810 | ​ | ​ | 52,466
Operating lease liabilities | ​ | ​ | 5,739 | ​ | ​ | 5,739
Intangibles | ​ | ​ | 30,952 | ​ | ​ | 33,603
Impairment-trademarks and others | ​ | ​ | 12,715 | ​ | ​ | 2,567
Other deferred tax assets | ​ | ​ | 64,955 | ​ | ​ | 33,209
Total gross deferred tax assets |  | $ | 318,617 |  | $ | 279,698
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred Tax Liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Amortization of trademarks |  | $ | (76,536) |  | $ | (39,237)
State franchise tax - deferred | ​ | ​ | (5,038) | ​ | ​ | (5,503)
Operating lease ROU assets | ​ | ​ | (5,739) | ​ | ​ | (5,739)
Bang transaction gain | ​ | ​ | (10,698) | ​ | ​ | —
Other deferred tax liabilities | ​ | ​ | (8,784) | ​ | ​ | (5)
Depreciation | ​ | ​ | (35,708) | ​ | ​ | (22,433)
Total gross deferred tax liabilities | ​ | ​ | (142,503) | ​ | ​ | (72,917)
​ | ​ | ​ | ​ | ​ | ​ | ​
Valuation Allowance | ​ | ​ | (30,007) | ​ | ​ | (29,742)
​ | ​ | ​ | ​ | ​ | ​ | ​
Net deferred tax assets |  | $ | 146,107 |  | $ | 177,039
Schedule of roll-forward of the total gross unrecognized tax benefits, not including interest and penalties | ​
​ | ​ | ​ | ​
​ |  | Gross Unrecognized Tax
​ | ​ | Benefits
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 | ​ | $ | —
Additions for tax positions related to the current year | ​ | ​ | —
Additions for tax positions related to the prior year | ​ | ​ | 3,020
Decreases for tax positions related to prior years | ​ | ​ | —
Balance at December 31, 2022 | ​ | $ | 3,020
Additions for tax positions related to the current year | ​ | ​ | —
Additions for tax positions related to the prior year | ​ | ​ | 739
Decreases for tax positions related to prior years | ​ |  | (650)
Balance at December 31, 2023 | ​ | $ | 3,109

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