XML 44 R29.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Income Taxes [Abstract] |
Income From Continuing Operations Before Income Taxes | Income before income taxes is categorized geographically as follows:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
| (In millions)
United States | $ | 607.1 |  |  | $ | 558.5 |  |  | $ | 489.4 |
Foreign | 369.4 |  |  | 321.7 |  |  | 292.8 |
Total income before income taxes | $ | 976.5 |  |  | $ | 880.2 |  |  | $ | 782.2 |
Components Of Provision For Income Taxes | The provision for income taxes consisted of the following:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
| (In millions)
Current expense: |  |  |  |  |
Federal | $ | 159.1 |  |  | $ | 145.1 |  |  | $ | 97.5 |
State | 28.0 |  |  | 41.7 |  |  | 32.2 |
Foreign, including withholding tax | 24.4 |  |  | 26.3 |  |  | 29.8 |
| 211.5 |  |  | 213.1 |  |  | 159.5 |
Deferred expense (benefit): |  |  |  |  |
Federal | (25.6) |  |  | (18.0) |  |  | 3.9 |
State | 11.2 |  |  | (4.8) |  |  | (0.2) |
Foreign | (38.2) |  |  | 16.1 |  |  | (165.8) |
| (52.6) |  |  | (6.7) |  |  | (162.1) |
Total income tax expense (benefit) | $ | 158.9 |  |  | $ | 206.4 |  |  | $ | (2.6) |
Reconciliation Of Income Tax At Effective Income Tax Rate | The difference between income tax expense (benefit) and the amount resulting from applying the federal statutory rate of 21% to Income before income taxes is attributable to the following:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
| (In millions)
Income tax expense at federal statutory rate | $ | 205.1 |  |  | $ | 184.8 |  |  | $ | 164.3 |
Non-U.S. intellectual property | (118.0) |  |  | — |  |  | (165.5) |
Change in valuation allowance | 66.1 |  |  | 0.1 |  |  | 0.1 |
State taxes, net of federal benefit | 28.5 |  |  | 29.2 |  |  | 25.5 |
Effect of non-U.S. operations | (15.5) |  |  | (9.5) |  |  | (23.3) |
Remeasurement of unrecognized tax benefits | (8.3) |  |  | (1.5) |  |  | (5.1) |
Other | 1.0 |  |  | 3.3 |  |  | 1.4 |
Total income tax expense (benefit) | $ | 158.9 |  |  | $ | 206.4 |  |  | $ | (2.6) |
Summary Of Deferred Tax Assets And Liabilities | The tax effects of temporary differences that give rise to significant portions of the Company’s deferred tax assets and liabilities are as follows:
| As of December 31, |  |
| 2023 |  | 2022 |  |
| (In millions) |  |
Deferred tax assets: |  |  |  |  |
Intellectual property | $ | 266.2 |  |  | $ | 147.0 |  |  |
Deferred revenue, accruals and reserves | 72.9 |  |  | 73.7 |  |  |
Research and development costs | 23.6 |  |  | 12.0 |  |  |
Tax credit carryforwards | 4.6 |  |  | 3.8 |  |  |
Net operating loss carryforwards | 2.2 |  |  | 3.4 |  |  |
Other | 6.0 |  |  | 1.8 |  |  |
Total deferred tax assets | 375.5 |  |  | 241.7 |  |  |
Valuation allowance | (73.6) |  |  | (5.5) |  |  |
Net deferred tax assets | 301.9 |  |  | 236.2 |  |  |
Deferred tax liabilities | (0.9) |  |  | (1.6) |  |  |
Total net deferred tax assets | $ | 301.0 |  |  | $ | 234.6 |  |  |
Reconciliation Of Gross Unrecognized Tax Benefits | A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows:
| As of December 31,
| 2023 |  | 2022
| (In millions)
Beginning balance | $ | 15.1 |  |  | $ | 16.0 |
Increases in tax positions for prior years | 0.1 |  |  | 0.1 |
Increases in tax positions for current year | 5.0 |  |  | 1.4 |
Lapse in statute of limitations | (10.6) |  |  | (2.4) |
Ending balance | $ | 9.6 |  |  | $ | 15.1 |

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-15A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 19 -SubTopic 10 -Topic 740 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-19 + Details
Name: | us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Income Taxes [Abstract] + References No definition available. + Details
Name: | vrsn_IncomeTaxesAbstract
Namespace Prefix: | vrsn_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration