XML 66 R48.htm IDEA: XBRL DOCUMENT
v3.20.4

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and International | The components of income before income taxes consist of the following:
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Domestic | $ | 61,470 |  |  | $ | 61,691 |  |  | $ | 56,426 |
International | 106,150 |  |  | 66,418 |  |  | 56,436 |
Income before income taxes | $ | 167,620 |  |  | $ | 128,109 |  |  | $ | 112,862 |
Schedule of Components of Income Tax | The (provision) benefit for income taxes consists of the following:
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Current: |  |  |  |  |
Federal | $ | (11,094) |  |  | $ | (7,696) |  |  | $ | (18,634) |
State | (3,597) |  |  | (2,486) |  |  | (873) |
Foreign | (7,688) |  |  | (12,824) |  |  | (11,303) |
| (22,379) |  |  | (23,006) |  |  | (30,810) |
Deferred: |  |  |  |  |
Federal | (5,194) |  |  | (2,389) |  |  | 7,655 |
State | (1,272) |  |  | (412) |  |  | (508) |
Foreign | (9,780) |  |  | 2,069 |  |  | 52,913 |
| (16,246) |  |  | (732) |  |  | 60,060 |
(Provision) benefit for income taxes | $ | (38,625) |  |  | $ | (23,738) |  |  | $ | 29,250 |
Schedule of Effective Income Tax Rate Reconciliation | A reconciliation of the U.S. statutory federal income tax rate to the Company’s effective income tax rate is as follows:
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Federal statutory rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State income taxes, net of federal benefit | 2.9 |  |  | 2.0 |  |  | 0.9 |
Permanent book/tax differences | (0.6) |  |  | 0.2 |  |  | (0.2) |
Stock‑based compensation | (5.2) |  |  | (2.3) |  |  | (2.4) |
Non-deductible officer compensation | 4.6 |  |  | — |  |  | — |
Expenses associated with IPO | 3.3 |  |  | — |  |  | — |
Tax credits | (2.1) |  |  | (3.6) |  |  | (3.3) |
Foreign tax rate differential | (2.0) |  |  | (2.8) |  |  | (4.2) |
Income tax reserves | (0.5) |  |  | 0.9 |  |  | (0.2) |
Intercompany sales of certain operating assets | — |  |  | — |  |  | (41.1) |
Net tax on foreign earnings (GILTI/FDII/FTC) | 0.5 |  |  | 6.1 |  |  | — |
Other | 1.1 |  |  | (3.0) |  |  | (0.2) |
U.S. tax reform | — |  |  | — |  |  | 3.8 |
Effective income tax rate | 23.0 | % |  | 18.5 | % |  | (25.9) | %
Schedule of Deferred Tax Assets and Liabilities | The following is a summary of the significant components of the Company’s deferred tax assets and liabilities:
| December 31,
| 2020 |  | 2019
Deferred tax assets: |  |  |
Accrued compensation | $ | 31,580 |  |  | $ | 36,195 |
Net operating loss (“NOL”) and credit carryforwards | 7,573 |  |  | 11,544 |
Intangible assets including goodwill | 283 |  |  | 10,371 |
Other accruals not currently deductible | 346 |  |  | 960 |
Allowance for doubtful accounts | 382 |  |  | 472 |
Other comprehensive income | 431 |  |  | 394 |
Lease liabilities | 10,466 |  |  | — |
Other | 138 |  |  | 239 |
Total deferred tax assets | 51,199 |  |  | 60,175 |
Less: Valuation allowance | (1,207) |  |  | (2,329) |
Net deferred tax assets | 49,992 |  |  | 57,846 |
Deferred tax liabilities: |  |  |
Deferred revenues | (7,257) |  |  | (12,830) |
Property and equipment | (1,989) |  |  | (707) |
Operating lease right-of-use assets | (10,070) |  |  | — |
Prepaid expenses | (2,301) |  |  | (1,501) |
Total deferred tax liabilities | (21,617) |  |  | (15,038) |
Net deferred tax assets (liabilities) | $ | 28,375 |  |  | $ | 42,808 |
Schedule of Unrecognized Tax Benefits Roll Forward | The following is a reconciliation of the total amounts of unrecognized tax benefits:
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Unrecognized tax benefit, beginning of year | $ | 1,763 |  |  | $ | 638 |  |  | $ | 872 |
Tax positions related to prior years: |  |  |  |  |
Additions | 1,436 |  |  | 1,222 |  |  | 80 |
Reductions | (1,723) |  |  | (86) |  |  | (39) |
Lapse of statute of limitations | (253) |  |  | (11) |  |  | (275) |
Unrecognized tax benefit, end of year | $ | 1,223 |  |  | $ | 1,763 |  |  | $ | 638 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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 -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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 -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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 -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)(1)(i)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=121610041&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration