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Income Taxes (Tables)

12 Months Ended

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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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.

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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.

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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.

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Tabular disclosure of the change in unrecognized tax benefits.

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