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INCOME TAX (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The income tax expense for the years ended December 31, 2022, 2021 and 2020 consisted of the following:

			Years Ended December 31,
			2022						2021						2020
			(in thousands)
Current income tax expense (benefit):
Federal			$	277,120					$	195,804					$	124,176
State			68,120						58,772						35,840
Foreign			125,580						103,781						82,456
			470,820						358,357						242,472
Deferred income tax expense (benefit):
Federal			(235,727)						(178,666)						(151,824)
State			(41,770)						(18,500)						(20,607)
Foreign			(26,629)						7,843						7,112
			(304,126)						(189,323)						(165,319)
			$	166,694					$	169,034					$	77,153

Schedule of Income (Loss) before Income Tax, Domestic and Foreign

The following table presents income (loss) before income taxes for the years ended December 31, 2022, 2021 and 2020:

			Years Ended December 31,
			2022												2021						2020
			(in thousands)
United States			$	(189,030)											$	537,586					$	194,190
Foreign			413,352												506,959						399,766
			$	224,322											$	1,044,545					$	593,956

Schedule of Effective Income Tax Rate Reconciliation

Our effective tax rates for the years ended December 31, 2022, 2021 and 2020 differ from the federal statutory rate for those periods as follows:

			Years Ended December 31,
			2022						2021						2020
Federal U.S. statutory rate			21.0		%				21.0		%				21.0		%
Goodwill impairment			78.0						—						—
Sale of Russian business			12.1						—						—
State income taxes, net of federal income tax benefit			9.0						3.4						0.7
Foreign inclusion, net of foreign tax credits			8.2						1.0						0.9
Nondeductible executive compensation			4.7						1.0						1.7
Share-based compensation expense			2.0						(0.2)						(2.7)
Foreign income taxes			1.4						0.3						0.6
Deemed royalty			1.2						—						—
Equity method investment partnership income			0.1						0.9						1.1
Valuation allowance			(0.2)						(1.7)						(0.1)
Uncertain tax positions			(0.7)						(0.3)						1.1
Foreign-derived intangible income deduction			(12.4)						(1.9)						(2.8)
Tax credits			(19.5)						(3.3)						(5.2)
Foreign interest income not subject to tax			(29.9)						(4.2)						(4.2)
Other			(0.7)						0.2						0.9
Effective tax rate			74.3		%				16.2		%				13.0		%

Schedule of Deferred Tax Assets and Liabilities

As of December 31, 2022 and 2021, principal components of deferred tax items were as follows:

			2022						2021
			(in thousands)
Deferred income tax assets:
Research and development costs			$	148,023					$	—
Foreign net operating loss carryforwards			129,882						104,499
Lease liabilities			106,884						130,328
Financial instruments			92,477						37,928
Credit carryforwards			48,930						49,875
Accrued expenses			44,819						42,839
Share-based compensation expense			41,344						36,086
Domestic net operating loss carryforwards			31,160						29,806
Other			68,258						42,945
			711,777						474,306
Valuation allowance			(110,043)						(112,259)
			601,734						362,047
Deferred tax liabilities:
Acquired intangibles			2,376,564						2,580,489
Property and equipment			363,457						261,764
Partnership interests			145,776						136,022
Right-of-use assets			69,773						94,739
Other			36,669						70,343
			2,992,239						3,143,357
Net deferred income tax liability			$	2,390,505					$	2,781,310

The net deferred income taxes reflected in our consolidated balance sheets as of December 31, 2022 and 2021 are as follows:

			2022						2021
			(in thousands)
Noncurrent deferred income tax asset			$	(37,907)					$	(12,117)
Noncurrent deferred income tax liability			2,428,412						2,793,427
Net deferred income tax liability			$	2,390,505					$	2,781,310

Summary of Valuation Allowance

Changes to our valuation allowance during the years ended December 31, 2022, 2021 and 2020 are summarized below (in thousands):

Balance at December 31, 2019			$	(72,042)
Allowance for foreign net operating loss carryforwards			(63,113)
Allowance for foreign credit carryforwards			(2,486)
Allowance for state credit carryforwards			2,932
Allowance for domestic net operating loss carryforwards			2,178
Balance at December 31, 2020			(132,531)
Allowance for foreign net operating loss carryforwards			5,804
Allowance for foreign credit carryforwards			12,656
Allowance for state credit carryforwards			(1,995)
Allowance for domestic net operating loss carryforwards			3,807
Balance at December 31, 2021			(112,259)
Allowance for foreign net operating loss carryforwards			(122)
Allowance for foreign credit carryforwards			60
Allowance for state credit carryforwards			2,282
Allowance for domestic net operating loss carryforwards			(4)
Balance at December 31, 2022			$	(110,043)

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amounts of unrecognized income tax benefits, excluding penalties and interest, for the years ended December 31, 2022, 2021 and 2020 is as follows:

			Years Ended December 31,
			2022						2021						2020
			(in thousands)
Balance at the beginning of the year			$	34,905					$	39,408					$	29,671
Additions related to acquisitions			—						387						3,186
Reductions for income tax positions of prior years			(8,301)						(10,875)						(5,408)
Settlements with income tax authorities			(3,245)						(2,137)						(909)
Additions for income tax positions of prior years			911						2,289						7,968
Additions based on income tax positions related to the current year			7,045						5,833						4,900
Balance at the end of the year			$	31,315					$	34,905					$	39,408

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