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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Components of Provision for Income Taxes

Significant components of the provision for income taxes for the years ended December 31 are as follows:

(in thousands)		2019				2018				2017
Current:
Federal		$	85,507			$	77,694			$	129,954
State			28,905				25,096				21,392
Foreign			620				409				929
Total current provision			115,032				103,199				152,275
Deferred:
Federal			14,994				8,483				18,999
State			(2,587	)			6,519				2,984
Foreign			(24	)			6				—
Tax Reform Act deferred tax revaluation			—				—				(124,166	)
Total deferred provision			12,383				15,008				(102,183	)
Total tax provision		$	127,415			$	118,207			$	50,092

Schedule of Reconciliation of Effective Tax Rate and Federal Statutory Tax Rate

A reconciliation of the differences between the effective tax rate and the federal statutory tax rate for the years ended December 31 is as follows:

		2019				2018				2016
Federal statutory tax rate			21.0	%			21.0	%			35.0	%
State income taxes, net of federal income tax benefit			3.8				5.7				3.8
Non-deductible employee stock purchase plan expense			0.3				0.2				0.3
Non-deductible meals and entertainment			0.3				0.3				0.3
Non-deductible officers’ compensation			0.2				0.3				—
Tax Reform Act deferred tax revaluation and transition tax    impact			—				(0.3	)			(26.9	)
Other, net			(1.4	)			(1.6	)			(1.4	)
Effective tax rate			24.2	%			25.6	%			11.1	%

Schedule of Components of Net Deferred Tax Liabilities

Significant components of the Company’s net deferred tax liabilities as of December 31 are as follows:

(in thousands)		2019				2018
Non-current deferred tax liabilities:
Intangible assets		$	360,660			$	334,200
Fixed assets			10,325				4,929
ASC 842 lease liabilities			46,188				—
Impact of adoption of ASC 606 revenue recognition			24,687				29,729
Net unrealized holding (loss)/gain on available-for-sale    securities			36				(78	)
Total non-current deferred tax liabilities			441,896				368,780
Non-current deferred tax assets:
Deferred compensation			52,566				41,293
Accruals and reserves			7,743				10,455
ASC 842 ROU asset			52,185				—
Net operating loss carryforwards and 163(j) disallowed carryforwards			2,377				2,196
Valuation allowance for deferred tax assets			(1,252	)			(896	)
Total non-current deferred tax assets			113,619				53,048
Net non-current deferred tax liability		$	328,277			$	315,732

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

(in thousands)		2019				2018				2017
Unrecognized tax benefits balance at January 1		$	1,639			$	1,694			$	750
Gross increases for tax positions of prior years			778				594				1,070
Gross decreases for tax positions of prior years			(791	)			(5	)			—
Settlements			(499	)			(644	)			(126	)
Unrecognized tax benefits balance at December 31		$	1,127			$	1,639			$	1,694

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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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