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INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
INCOME TAXES |
Schedule of domestic and foreign components of the income before provision for income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2024 |  | 2023 |  | 2022
Domestic* |  | $ | 1,540,619 |  | $ | 1,809,418 |  | $ | 1,327,459
Foreign* | ​ | ​ | 448,840 | ​ | ​ | 259,064 | ​ | ​ | 244,505
Income before provision for income taxes |  | $ | 1,989,459 |  | $ | 2,068,482 |  | $ | 1,571,964
​ *After intercompany royalties, management fees and interest charges from the Company’s domestic to foreign entities of $108.4 million, $101.4 million and $85.0 million for the years ended December 31, 2024, 2023 and 2022, respectively.
Schedule of components of the provision for income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2024 |  | 2023 |  | 2022
Current: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal |  | $ | 273,825 |  | $ | 259,911 |  | $ | 247,482
State | ​ | ​ | 55,087 | ​ | ​ | 47,079 | ​ | ​ | 47,255
Foreign | ​ | ​ | 145,118 | ​ | ​ | 99,563 | ​ | ​ | 37,421
​ | ​ | ​ | 474,030 | ​ | ​ | 406,553 | ​ | ​ | 332,158
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | ​ | 11,395 | ​ | ​ | 42,237 | ​ | ​ | 19,111
State | ​ | ​ | (900) | ​ | ​ | 2,376 | ​ | ​ | 258
Foreign | ​ | ​ | (12,772) | ​ | ​ | (13,936) | ​ | ​ | 26,084
​ | ​ | ​ | (2,277) | ​ | ​ | 30,677 | ​ | ​ | 45,453
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Valuation allowance | ​ | ​ | 8,658 | ​ | ​ | 264 | ​ | ​ | 2,729
​ |  | $ | 480,411 |  | $ | 437,494 |  | $ | 380,340
Schedule of reconciliation of income taxes computed at statutory federal rate to total income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2024 |  | 2023 |  | 2022
U.S. Federal tax expense at statutory rates |  | $ | 417,786 |  | $ | 434,381 |  | $ | 330,113
State income taxes, net of federal tax benefit | ​ | ​ | 38,850 | ​ | ​ | 39,416 | ​ | ​ | 35,848
Permanent differences | ​ | ​ | (21,298) | ​ | ​ | (27,235) | ​ | ​ | (5,450)
Stock-based compensation | ​ | ​ | 5,266 | ​ | ​ | (43,846) | ​ | ​ | 3,571
Residual tax on undistributed foreign earnings | ​ | ​ | 3,903 | ​ | ​ | 8,423 | ​ | ​ | —
Other | ​ | ​ | (10,843) | ​ | ​ | (5,132) | ​ | ​ | 1,371
Foreign rate differential | ​ | ​ | 38,089 | ​ | ​ | 31,223 | ​ | ​ | 12,158
Valuation allowance | ​ | ​ | 8,658 | ​ | ​ | 264 | ​ | ​ | 2,729
​ |  | $ | 480,411 |  | $ | 437,494 |  | $ | 380,340
Schedule of components of the deferred tax assets (liabilities) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023
Deferred Tax Assets: | ​ | ​ | ​ | ​ | ​ | ​
Reserve for inventory obsolescence |  | $ | 9,950 |  | $ | 4,022
Capitalization of inventory costs | ​ | ​ | 13,253 | ​ | ​ | 12,159
Accrued compensation | ​ | ​ | 13,941 | ​ | ​ | 12,413
Deferred revenue | ​ | ​ | 53,802 | ​ | ​ | 58,156
Stock-based compensation | ​ | ​ | 19,649 | ​ | ​ | 19,093
Net operating loss carryforward | ​ | ​ | 33,159 | ​ | ​ | 27,000
Prepaid supplies | ​ | ​ | 9,081 | ​ | ​ | 10,567
Termination payments | ​ | ​ | 39,489 | ​ | ​ | 46,810
Operating lease liabilities | ​ | ​ | 13,201 | ​ | ​ | 5,739
Intangible assets | ​ | ​ | 84,455 | ​ | ​ | 70,500
Accrued liabilities | ​ | ​ | 16,725 | ​ | ​ | 10,087
Other deferred tax assets | ​ | ​ | 57,562 | ​ | ​ | 42,071
Total gross deferred tax assets |  | $ | 364,267 |  | $ | 318,617
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred Tax Liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Amortization of intangibles |  | $ | (93,511) |  | $ | (76,536)
Operating lease ROU assets | ​ | ​ | (13,201) | ​ | ​ | (5,739)
Bang transaction gain | ​ | ​ | (11,740) | ​ | ​ | (10,698)
Depreciation | ​ | ​ | (57,168) | ​ | ​ | (35,708)
Other deferred tax liabilities | ​ | ​ | (12,741) | ​ | ​ | (13,822)
Total gross deferred tax liabilities | ​ | $ | (188,361) | ​ | $ | (142,503)
​ | ​ | ​ | ​ | ​ | ​ | ​
Valuation Allowance | ​ | ​ | (38,665) | ​ | ​ | (30,007)
​ | ​ | ​ | ​ | ​ | ​ | ​
Net deferred tax assets |  | $ | 137,241 |  | $ | 146,107
Schedule of roll-forward of the total gross unrecognized tax benefits, not including interest and penalties | ​
​ | ​ | ​ | ​
​ |  | Gross Unrecognized Tax
​ | ​ | Benefits
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
Additions for tax positions related to the current year | ​ | ​ | —
Additions for tax positions related to the prior year | ​ | ​ | 631
Decreases for tax positions related to prior years | ​ |  | (1,114)
Balance at December 31, 2024 | ​ | $ | 2,626

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