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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2020
Income Tax Disclosure [Abstract] |
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,
| 2020 |  | 2019 |  | 2018
|  |  | (In thousands) |  |
United States | $ | 26,031 |  |  | $ | 198,566 |  |  | $ | 198,556 |
Foreign | 96,811 |  |  | 83,495 |  |  | 82,469 |
Income before income taxes | $ | 122,842 |  |  | $ | 282,061 |  |  | $ | 281,025 |
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,
| 2020 |  | 2019 |  | 2018
|  |  | (In thousands) |  |
Current income taxes: |  |  |  |  |
Federal | $ | 25,605 |  |  | $ | 31,695 |  |  | $ | 28,464 |
State | 11,322 |  |  | 8,616 |  |  | 7,458 |
Foreign | 19,414 |  |  | 6,347 |  |  | 10,611 |
Total current income taxes | 56,341 |  |  | 46,658 |  |  | 46,533 |
Deferred income taxes: |  |  |  |  |
Federal | (17,913) |  |  | 6,774 |  |  | 5,253 |
State | (7,264) |  |  | 1,846 |  |  | 1,967 |
Foreign | (8,361) |  |  | 4,585 |  |  | 1,917 |
Total deferred income taxes | (33,538) |  |  | 13,205 |  |  | 9,137 |
Provision for income taxes | $ | 22,803 |  |  | $ | 59,863 |  |  | $ | 55,670 |
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,
| 2020 |  | 2019 |  | 2018
Federal statutory rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State income taxes, net of federal income tax benefit | 1.4 |  |  | 3.1 |  |  | 2.8 |
Deemed repatriation of undistributed foreign earnings | — |  |  | (1.3) |  |  | (1.2) |
Deferred income tax remeasurement | — |  |  | — |  |  | (0.3) |
Tax effect of intercompany financing | (13.4) |  |  | (5.5) |  |  | (5.6) |
Unrecognized tax benefits | 2.1 |  |  | (0.4) |  |  | (0.1) |
Nondeductible expenses | 5.7 |  |  | 0.7 |  |  | 1.0 |
Change in valuation allowance | 1.8 |  |  | 0.6 |  |  | 0.6 |
Other | — |  |  | 3.0 |  |  | 1.6 |
Effective tax rate | 18.6 | % |  | 21.2 | % |  | 19.8 | %
Schedule of Deferred Tax Assets and Liabilities | The following table sets forth deferred tax assets and liabilities:
| As of December 31,
| 2020 |  | 2019
|  |  | (In thousands) |  |
| Assets |  | Liabilities |  | Assets |  | Liabilities
Accounts receivable | $ | 17,560 |  |  | $ | — |  |  | $ | 3,382 |  |  | $ | — |
Inventories | 14,793 |  |  | — |  |  | — |  |  | 4,580 |
Depreciation of property, buildings and equipment | — |  |  | 60,687 |  |  | — |  |  | 18,393 |
Operating leases | 134,377 |  |  | 136,477 |  |  | 61,326 |  |  | 60,670 |
Amortization of intangible assets | — |  |  | 540,520 |  |  | — |  |  | 159,573 |
Employee benefits | 53,040 |  |  | — |  |  | 20,641 |  |  | — |
Stock-based compensation | 14,061 |  |  | — |  |  | 13,792 |  |  | — |
Tax loss carryforwards | 36,923 |  |  | — |  |  | 10,486 |  |  | — |
Foreign tax credit carryforwards | 55,637 |  |  | — |  |  | 1,247 |  |  | — |
Other | 27,643 |  |  | 6,286 |  |  | 6,791 |  |  | 3,964 |
Deferred income taxes before valuation allowance | 354,034 |  |  | 743,970 |  |  | 117,665 |  |  | 247,180 |
Valuation allowance | (60,629) |  |  | — |  |  | (5,854) |  |  | — |
Total deferred income taxes | $ | 293,405 |  |  | $ | 743,970 |  |  | $ | 111,811 |  |  | $ | 247,180 |
Summary of Income Tax Examinations | The Company is under examination by tax authorities in various jurisdictions 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 as follows:
United States — Federal |  | 2015 and forward
United States — Material States |  | 2016 and forward
Canada |  | 2012 and forward
UK |  | 2015 and forward
Summary of Income Tax Contingencies | The following table sets forth the reconciliation of gross unrecognized tax benefits:
| As of December 31,
| 2020 |  | 2019 |  | 2018
| (In thousands)
Beginning balance January 1 | $ | 54 |  |  | $ | 1,293 |  |  | $ | 4,348 |
Additions for current year tax positions | 14,009 |  |  | — |  |  | — |
Additions for acquired tax positions | 68,048 |  |  | — |  |  | — |
Reductions for prior year tax positions | (43) |  |  | — |  |  | — |
Settlements | — |  |  | (1,290) |  |  | (2,646) |
Lapse in statute of limitations | (15,886) |  |  | — |  |  | (287) |
Foreign currency exchange rate changes | 1,893 |  |  | 51 |  |  | (122) |
Ending balance December 31 | $ | 68,075 |  |  | $ | 54 |  |  | $ | 1,293 |

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