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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2018
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense | The following table sets forth the components of the provision (benefit) for income taxes:
| Year Ended December 31,
| 2018 |  | 2017 |  | 2016
|  |  | (In thousands) |  |
Current income taxes: |  |  |  |  |
Federal(1) | $ | 28,464 |  |  | $ | 122,170 |  |  | $ | 65,614 |
State | 7,458 |  |  | 2,259 |  |  | 6,489 |
Foreign | 10,611 |  |  | 15,274 |  |  | 3,502 |
Total current income taxes | 46,533 |  |  | 139,703 |  |  | 75,605 |
Deferred income taxes: |  |  |  |  |
Federal | 5,253 |  |  | (48,060 | ) |  | (42,835 | )
State | 1,967 |  |  | 4,508 |  |  | (2,938 | )
Foreign | 1,917 |  |  | (6,844 | ) |  | 599 |
Total deferred income taxes | 9,137 |  |  | (50,396 | ) |  | (45,174 | )
Provision for income taxes | $ | 55,670 |  |  | $ | 89,307 |  |  | $ | 30,431 |
Schedule of Income before Income Tax, Domestic and Foreign | The following table sets forth the components of income before income taxes by jurisdiction:
| Year Ended December 31,
| 2018 |  | 2017 |  | 2016
|  |  | (In thousands) |  |
United States | $ | 198,556 |  |  | $ | 180,957 |  |  | $ | 80,881 |
Foreign | 82,469 |  |  | 71,483 |  |  | 50,670 |
Income before income taxes | $ | 281,025 |  |  | $ | 252,440 |  |  | $ | 131,551 |
Schedule of Effective Income Tax Rate Reconciliation | The following table sets forth the reconciliation between the federal statutory income tax rate and the effective tax rate:
| Year Ended December 31,
| 2018 |  | 2017 |  | 2016
Federal statutory rate | 21.0 | % |  | 35.0 | % |  | 35.0 | %
State income taxes, net of federal income tax benefit | 2.8 |  |  | 1.4 |  |  | 1.0 |
Deemed repatriation of undistributed foreign earnings | (1.2 | ) |  | 32.8 |  |  | — |
Deferred income tax remeasurement | (0.3 | ) |  | (22.4 | ) |  | — |
Tax effect of intercompany financing | (5.6 | ) |  | (10.5 | ) |  | (19.9 | )
Other(1) | 3.1 |  |  | (0.9 | ) |  | 7.0 |
Effective tax rate | 19.8 | % |  | 35.4 | % |  | 23.1 | %
Schedule of Deferred Tax Assets and Liabilities | The following table sets forth deferred tax assets and liabilities:
| As of December 31,
| 2018 |  | 2017
|  |  | (In thousands) |  |
| Assets |  | Liabilities |  | Assets |  | Liabilities
Accounts receivable | $ | 3,657 |  |  | $ | — |  |  | $ | 3,496 |  |  | $ | — |
Inventories | — |  |  | 3,315 |  |  | — |  |  | 3,181 |
Depreciation of property, buildings and equipment | — |  |  | 17,384 |  |  | — |  |  | 13,283 |
Amortization of intangible assets | — |  |  | 158,795 |  |  | — |  |  | 159,107 |
Employee benefits | 20,107 |  |  | — |  |  | 14,835 |  |  | — |
Stock-based compensation(1) | 12,840 |  |  | — |  |  | 16,341 |  |  | — |
Advance payments | — |  |  | — |  |  | 8,456 |  |  | — |
Tax loss carryforwards | 15,557 |  |  | — |  |  | 19,128 |  |  | — |
Other | 7,927 |  |  | 4,115 |  |  | 11,850 |  |  | 8,672 |
Deferred income taxes before valuation allowance | 60,088 |  |  | 183,609 |  |  | 74,106 |  |  | 184,243 |
Valuation allowance | (4,072 | ) |  | — |  |  | (2,518 | ) |  | — |
Total deferred income taxes | $ | 56,016 |  |  | $ | 183,609 |  |  | $ | 71,588 |  |  | $ | 184,243 |
(1) | The Company does not expect the executive compensation deduction rules in Section 162(m) of the Internal Revenue Code as amended by the TCJA to have a material impact on the realizability of the deferred tax asset related to stock-based compensation.
Summary of Income Tax Examinations | The Company is under examination by tax authorities in the U.S. and Canada and remains subject to examination until the applicable statutes of limitation expire. The statutes of limitation for the material jurisdictions in which the Company files income tax returns remain open principally due to certain transfer pricing matters and are as follows:
United States — Federal |  | 2004 and forward
United States — Material States |  | 2004 and forward
Canada |  | 2004 and forward
United States — Federal |  | 2004 and forward
United States — Material States |  | 2004 and forward
Canada |  | 2004 and forward
Summary of Income Tax Contingencies | The following table sets forth the reconciliation of gross unrecognized tax benefits:
| As of December 31,
| 2018 |  | 2017 |  | 2016
| (In thousands)
Beginning balance January 1 | $ | 4,348 |  |  | $ | 6,181 |  |  | $ | 5,436 |
Additions for tax positions of prior years | — |  |  | — |  |  | 3,298 |
Reductions for tax positions of prior years | — |  |  | (155 | ) |  | (21 | )
Settlements | (2,646 | ) |  | (1,025 | ) |  | (1,921 | )
Lapse in statute of limitations | (287 | ) |  | (755 | ) |  | (728 | )
Foreign currency exchange rate changes | (122 | ) |  | 102 |  |  | 117 |
Ending balance December 31 | $ | 1,293 |  |  | $ | 4,348 |  |  | $ | 6,181 |

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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319 + Details
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