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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of components of income tax expense

The components of the provision for income taxes attributable to operations consist of the following (in thousands):

	Year Ended December 31,
	2019				2018				2017
Current:
Federal	$	53,039			$	36,167			$	41,453
State	13,422				5,140				3,518
Foreign	1,305				708				295
Total current	67,766				42,015				45,266
Deferred:
Federal	6,881				6,576				(7,917		)
State	2,424				(2,582		)		4,695
Foreign	(1,085		)		(328		)		319
Total deferred	8,220				3,666				(2,903		)
Total provision for income taxes	$	75,986			$	45,681			$	42,363

Schedule of deferred tax assets and liabilities

The components of deferred tax assets and liabilities consist of the following (in thousands):

	December 31,
	2019				2018
Deferred tax assets:
Reserve for bad debts	1,312				1,457
Accrued compensation	4,297				4,803
Stock compensation	13,877				10,041
Net operating losses	20,555				26,349
Accrued reserve and other	4,177				1,773
Lease liabilities	36,472				—
Deferred rent	—				5,928
Deferred gain on the sale of building	—				4,140
Research and development credits	6,341				6,331
Total deferred tax assets, prior to valuation allowance	87,031				60,822
Valuation allowance	(13,553		)		(14,246		)
Total deferred tax assets, net of valuation allowance	73,478				46,576
Deferred tax liabilities:
Deferred commission costs, net	(22,612		)		(19,314		)
Lease right-of-use assets	(30,830		)		—
Prepaid expenses	(1,548		)		(2,204		)
Property and equipment, net	(8,891		)		(5,367		)
Intangible assets, net	(91,285		)		(82,079		)
Total deferred tax liabilities	(155,166		)		(108,964		)
Net deferred tax assets (liabilities)	$	(81,688	)		$	(62,388	)

Schedule of effective income tax rate reconciliation

The Company’s provision for income taxes resulted in effective tax rates that varied from the statutory federal income tax rate as follows (in thousands):

	Year Ended December 31,
	2019				2018				2017
Expected federal income tax provision at statutory rate	$	82,099			$	59,643			$	57,770
State income taxes, net of federal benefit	14,884				10,312				4,776
Foreign income taxes, net effect	1,515				(315		)		(3,540		)
Increase (decrease) in valuation allowance	(693		)		1,214				3,624
Tax rate changes	(13		)		141				(7,340		)
Research credits	(12,188		)		(15,373		)		(20,547		)
Excess tax benefit	(15,282		)		(14,227		)		(7,010		)
Tax reserves	3,135				1,870				12,646
Other adjustments	2,529				2,416				1,984
Income tax expense	$	75,986			$	45,681			$	42,363

Schedule of unrecognized tax benefits

The following table summarizes the activity related to the Company’s unrecognized tax benefits (in thousands):

 

Unrecognized tax benefit as of December 31, 2016	$	1,843
Increase for current year tax positions	12,620
Decrease for prior year tax positions	(34		)
Expiration of the statute of limitation for assessment of taxes	(66		)
Unrecognized tax benefit as of December 31, 2017	14,363
Increase for current year tax positions	9,561
Decrease for prior year tax positions	(70		)
Expiration of the statute of limitation for assessment of taxes	(1,482		)
Unrecognized tax benefit as of December 31, 2018	22,372
Increase for current year tax positions	3,487
Increase for prior year tax positions	440
Expiration of the statute of limitation for assessment of taxes	(832		)
Unrecognized tax benefit as of December 31, 2019	$	25,467

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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 the change in unrecognized tax benefits.

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