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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Components Of Income Tax Expense Benefit Continuing Operations [Abstract] |
Provision For Income Taxes/(Benefit) | The provision for income taxes consists of the following (in thousands):
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Current taxes: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 123,802 |  |  | $ | 89,971 |  |  | $ | (29,396 | )
State |  |  | 30,464 |  |  |  | 36,070 |  |  |  | (334 | )
Foreign |  |  | 1,684 |  |  |  | 99 |  |  |  | (1,734 | )
|  |  | 155,950 |  |  |  | 126,140 |  |  |  | (31,464 | )
Deferred taxes: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (7,027 | ) |  |  | 11,932 |  |  |  | 114,842 |
State |  |  | 4,266 |  |  |  | 2,267 |  |  |  | 1,728 |
Foreign |  |  | (4,037 | ) |  |  | 55 |  |  |  | 1,559 |
|  |  | (6,798 | ) |  |  | 14,254 |  |  |  | 118,129 |
Provision for income taxes |  | $ | 149,152 |  |  | $ | 140,394 |  |  | $ | 86,665 |
Reconciliation Of The Statutory Federal Income Tax With The Company's Effective Tax Rate | Reconciliation of the statutory federal income tax rate with our company’s effective income tax rate is as follows (in thousands):
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Statutory rate |  | $ | 125,485 |  |  | $ | 112,215 |  |  | $ | 94,338 |
State income taxes, net of federal income tax |  |  | 28,333 |  |  |  | 30,762 |  |  |  | 6,721 |
Change in uncertain tax position |  |  | 2,661 |  |  |  | (617 | ) |  |  | 1,544 |
Foreign tax rate difference |  |  | (629 | ) |  |  | (318 | ) |  |  | (412 | )
Excess tax benefit from stock-based compensation |  |  | (9,670 | ) |  |  | (3,700 | ) |  |  | (57,431 | )
Revaluation of deferred tax assets |  |  | — |  |  |  | (3,006 | ) |  |  | 42,443 |
Other, net |  |  | 2,972 |  |  |  | 5,058 |  |  |  | (538 | )
|  | $ | 149,152 |  |  | $ | 140,394 |  |  | $ | 86,665 |
Deferred Tax Assets And Liabilities | Tax effect of temporary differences and carryforwards that comprise significant portions of deferred tax assets and liabilities (in thousands):
|  | December 31, |
|  | 2019 |  |  | 2018 |
Deferred tax assets: |  |  |  |  |  |  |  |
Lease liabilities |  | $ | 181,607 |  |  | $ | — |
Deferred compensation |  |  | 80,389 |  |  |  | 74,916 |
Receivable reserves |  |  | 33,199 |  |  |  | 30,252 |
Net operating loss carryforwards |  |  | 28,781 |  |  |  | 29,699 |
Accrued expenses |  |  | 26,166 |  |  |  | 19,832 |
Unrealized loss on investments |  |  | — |  |  |  | 10,635 |
Other |  |  | 3,210 |  |  |  | 3,066 |
Total deferred tax assets |  |  | 353,352 |  |  |  | 168,400 |
Valuation allowance |  |  | (5,042 | ) |  |  | (3,944 | )
|  |  | 348,310 |  |  |  | 164,456 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Lease ROU asset |  |  | (180,598 | ) |  |  | — |
Goodwill and other intangibles |  |  | (46,625 | ) |  |  | (42,045 | )
Depreciation |  |  | (7,231 | ) |  |  | (6,629 | )
Unrealized gain on investments |  |  | (5,619 | ) |  |  | — |
Prepaid expenses |  |  | (3,857 | ) |  |  | (3,774 | )
|  |  | (243,930 | ) |  |  | (52,448 | )
Net deferred tax asset |  | $ | 104,380 |  |  | $ | 112,008 |
Unrecognized Tax Benefits | The following table summarizes the activity related to our company’s unrecognized tax benefits from January 1, 2017 to December 31, 2019 (in thousands):
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Beginning balance |  | $ | 312 |  |  | $ | 3,180 |  |  | $ | 1,800 |
Increase related to prior year tax positions |  |  | 2,173 |  |  |  | 4 |  |  |  | 3,036 |
Decrease related to prior year tax positions |  |  | (54 | ) |  |  | (33 | ) |  |  | (287 | )
Increase related to current year tax positions |  |  | 956 |  |  |  | 191 |  |  |  | — |
Decrease related to settlements with taxing authorities |  |  | — |  |  |  | (3,030 | ) |  |  | (171 | )
Decrease related to lapsing of statute of limitations |  |  | — |  |  |  | — |  |  |  | (1,198 | )
Ending balance |  | $ | 3,387 |  |  | $ | 312 |  |  | $ | 3,180 |

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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 http://asc.fasb.org/extlink&oid=84230637&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 http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
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