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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Summary of Components of Income Before Provision for Income Taxes | The components of income before income tax expense are as follows:
| Year ended
| December 31, 2022 | December 31, 2021 | December 31, 2020
| (in thousands)
Ireland | $ | 432,963 |  | $ | 231,893 |  | $ | 280,310 |
United States | (270,440) |  | (278,413) |  | 41,950 |
Other | 405,328 |  | 243,200 |  | 58,945 |
Income before income tax expense | $ | 567,851 |  | $ | 196,680 |  | $ | 381,205 |
Summary of Components of Provision for Income Taxes | The components of income tax expense are as follows:
| Year ended
| December 31, 2022 | December 31, 2021 | December 31, 2020
| (in thousands)
Income tax expense: |  |  |
Current tax expense: |  |  |
Ireland | $ | 53,248 |  | $ | 18,469 |  | $ | 28,963 |
United States | 60,753 |  | 35,478 |  | 3,022 |
Other | 70,395 |  | 48,003 |  | 14,963 |
Total current tax expense | 184,396 |  | 101,950 |  | 46,948 |
Deferred tax (benefit)/expense: |  |  |
Ireland | (6,166) |  | 553 |  | 1,654 |
United States | (118,475) |  | (52,717) |  | 4,577 |
Other | (344) |  | (8,452) |  | (5,304) |
Total deferred tax (benefit)/expense | (124,985) |  | (60,616) |  | 927 |
Income tax expense allocated to continuing operations | 59,411 |  | 41,334 |  | 47,875 |
Income tax expense was allocated to the following components of other comprehensive income: |  |  |
Currency impact on long term funding | 7,211 |  | 1,776 |  | 68 |
Total | $ | 66,622 |  | $ | 43,110 |  | $ | 47,943 |
Schedule of Reconciliation of Consolidated Reported Provision for Income Taxes and Statutory Rate | The Company's consolidated reported income tax expense differed from the amount that would result from applying the Irish statutory rate as set forth below:
| Year ended
| December 31, 2022 | December 31, 2021 | December 31, 2020
| (in thousands)
Taxes at Irish statutory rate of 12.5% (2021:12.5%; 2020:12.5%) | $ | 70,980 |  | $ | 24,586 |  | $ | 47,651 |
Rate differential from amortization of intangible assets | (59,330) |  | (31,228) |  | (2,298) |
Foreign and other income taxed at higher rates | 52,464 |  | 51,273 |  | 10,241 |
Research & development tax incentives | (2,608) |  | (3,120) |  | (1,243) |
Movement in valuation allowance | (777) |  | 3,101 |  | 3,581 |
Effects of change in tax rates | (300) |  | (128) |  | 108 |
Change in unrecognized tax benefits | 8,392 |  | 5,246 |  | (1,672) |
Impact of stock compensation | (8,756) |  | (9,083) |  | (5,150) |
Other | (654) |  | 687 |  | (3,343) |
Income tax expense | $ | 59,411 |  | $ | 41,334 |  | $ | 47,875 |
Schedule of Tax Effects of Temporary Differences that Give Rise to Significant Portions of Deferred Tax Assets and Deferred Tax Liabilities | The tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities are presented below:
| December 31, 2022 | December 31, 2021
| (in thousands)
Deferred tax liabilities: |  |
Property, plant and equipment | $ | 10,927 |  | $ | 19,606 |
Operating right-of-use-assets | 23,260 |  | 33,449 |
Goodwill | 37,150 |  | 33,354 |
Intangible assets | 1,078,302 |  | 1,201,086 |
Other | 9,054 |  | 1,761 |
Total deferred tax liabilities recognized | 1,158,693 |  | 1,289,256 |
Deferred tax assets: |  |
Operating loss and tax credits carryforwards | 88,697 |  | 86,893 |
Property, plant and equipment | 6,010 |  | 5,846 |
Operating lease liabilities | 27,593 |  | 36,106 |
Intangible assets | 3,602 |  | 4,596 |
Accrued expenses and unbilled revenue | 64,016 |  | 69,198 |
Stock compensation | 21,862 |  | 25,557 |
Deferred compensation | 2,917 |  | 3,445 |
Unearned revenue | 66,565 |  | 64,924 |
Other | 9,155 |  | 602 |
Total deferred tax assets | 290,417 |  | 297,167 |
Valuation allowance for deferred tax assets | (43,379) |  | (45,495) |
Deferred tax assets recognized | 247,038 |  | 251,672 |
Overall net deferred tax asset/(liability) | $ | (911,655) |  | $ | (1,037,584) |
Schedule of Expected Expiry Dates of NOL's | The expected expiry dates of the US NOLs are as follows:
| Federal NOL's | State NOL's
| (in thousands)
2023-2036 | $ | 5,268 |  | $ | 249,530 |
2033-2041 | — |  | 145,632 |
Indefinite | 95 |  | 6,736 |
| $ | 5,363 |  | $ | 401,898 |
Schedule of Reconciliation of Beginning and Ending Amount of Total Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of total unrecognized tax benefits is as follows:
| December 31, 2022 | December 31, 2021 | December 31, 2020
| (in thousands)
Unrecognized tax benefits at start of year | $ | 202,065 |  | $ | 19,078 |  | $ | 20,156 |
Increase related to acquired tax positions |  | 170,047 |  | — |
Increase related to prior year tax positions | 16,098 |  | 204 |  | 401 |
Decrease related to prior year tax positions | (5,442) |  | (1,695) |  | (1,271) |
Increase related to current year tax positions | 5,701 |  | 18,613 |  | 2,931 |
Settlements | — |  | (844) |  | (369) |
Lapse of statute of limitations | (838) |  | (3,338) |  | (2,770) |
Unrecognized tax benefits at end of year | $ | 217,584 |  | $ | 202,065 |  | $ | 19,078 |

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- 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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
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- 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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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