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Income Taxes | 6 Months Ended
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Jun. 30, 2020
Income Tax Disclosure [Abstract] |
Income Taxes | Note 8—Income Taxes In determining the interim provision for income taxes, the Company utilized the discrete effective tax rate method, as allowed by ASC 740-270-30-18, “Income Taxes – Interim Reporting”. Given the significant uncertainty with respect to the impact of COVID-19 on its business and results of operations, the Company was not currently able to reliably estimate its annual effective income tax rate for 2020. The discrete method treats the year to date period as if it were the annual period and determines the income tax expense or benefit on that basis. For the three months ended June 30, 2020 and 2019, the provision for (benefit from) income taxes included $48.8 million and $9.3 million, respectively, of benefits associated with stock-based awards. For the six months ended June 30, 2020 and 2019, the provision for (benefit from) income taxes included $73.1 million and $20.3 million, respectively, of benefits associated with stock-based awards. In addition, the income taxes for the six months ended June 30, 2020 includes an income tax benefit attributable to the expected net operating loss (“NOL”) carryback provided for under the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act. The expected NOL carryback applies to the Company’s 2015-2017 income tax years, in which it paid federal income tax at a 35% tax rate. For the six months ended June 30, 2020, and 2019, the Company’s effective tax rate differed from the United States federal statutory tax rate of 21% primarily due to tax benefits associated with employee exercises of stock options and vesting of restricted stock units, federal rate differential on NOL carrybacks, state taxes, foreign tax rate differences and research and development tax credits. There were no material changes to the Company’s unrecognized tax benefits during the six months ended June 30, 2020, and the Company does not expect to have any significant changes to unrecognized tax benefits through the end of the fiscal year.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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