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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | Net income before provision for income taxes consists of the following (in thousands):
|  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Domestic |  | $ | 334,485 |  |  | $ | 315,643 |  |  | $ | 268,097 |
Foreign |  | 274,474 |  |  | 325,561 |  |  | 330,960 |
Net income before provision for income taxes |  | $ | 608,959 |  |  | $ | 641,204 |  |  | $ | 599,057 |
Schedule of Components of Income Tax Expense (Benefit) | The provision for (benefit from) income taxes consists of the following (in thousands):
|  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Federal |  |  |  |  |  |
Current |  | $ | 95,027 |  |  | $ | 134,332 |  |  | $ | 188,050 |
Deferred |  | 1,578 |  |  | (16,805) |  |  | (55,579) |
|  | 96,605 |  |  | 117,527 |  |  | 132,471 |
State |  |  |  |  |  |
Current |  | 13,702 |  |  | 28,535 |  |  | 34,621 |
Deferred |  | 3,384 |  |  | (3,157) |  |  | (12,265) |
|  | 17,086 |  |  | 25,378 |  |  | 22,356 |
Foreign |  |  |  |  |  |
Current |  | 56,653 |  |  | 51,306 |  |  | 56,537 |
Deferred |  | 17,253 |  |  | 1,940 |  |  | 26,120 |
|  | 73,906 |  |  | 53,246 |  |  | 82,657 |
Provision for (benefit from) income taxes |  | $ | 187,597 |  |  | $ | 196,151 |  |  | $ | 237,484 |
Schedule of Effective Income Tax Rate Reconciliation | The differences between income taxes using the federal statutory income tax rate for the year ended December 31, 2024, 2023 and 2022 and our effective tax rates are as follows:
|  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
U.S. federal statutory income tax rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State income taxes, net of federal tax benefit |  | 2.2 |  |  | 2.9 |  |  | 3.7 |
U.S. tax on foreign earnings |  | 5.4 |  |  | 3.7 |  |  | 5.6 |
Impact of differences in foreign tax rates |  | (2.0) |  |  | 1.4 |  |  | 3.3 |
Stock-based compensation |  | 3.4 |  |  | 3.0 |  |  | 2.1 |
Settlement on audits |  | — |  |  | 0.1 |  |  | 1.9 |
Change in valuation allowance |  | 0.9 |  |  | (1.3) |  |  | 1.7 |
Other items not individually material |  | (0.1) |  |  | (0.2) |  |  | 0.3 |
Effective tax rate |  | 30.8 | % |  | 30.6 | % |  | 39.6 | %
Schedule of Deferred Tax Assets and Liabilities | As of December 31, 2024 and 2023, the significant components of our deferred tax assets and liabilities are (in thousands):
|  | December 31,
|  | 2024 |  | 2023
Deferred tax assets: |  |  |  |
Net operating loss and capital loss carryforwards |  | $ | 2,741 |  |  | $ | 1,389 |
Reserves and accruals |  | 67,221 |  |  | 62,891 |
Stock-based compensation |  | 29,255 |  |  | 25,054 |
Deferred revenue |  | 146,509 |  |  | 142,082 |
Capitalized research & development |  | 32,027 |  |  | 41,505 |
Amortizable tax basis in intangibles |  | 1,301,338 |  |  | 1,325,236 |
Other |  | 12,282 |  |  | 13,228 |
Deferred tax assets before valuation allowance |  | 1,591,373 |  |  | 1,611,385 |
Valuation allowance |  | (19,390) |  |  | (14,991) |
Total deferred tax assets |  | $ | 1,571,983 |  |  | $ | 1,596,394 |
Deferred tax liabilities: |  |  |  |
Depreciation and amortization |  | $ | 16,485 |  |  | $ | 7,814 |
Acquisition-related intangibles |  | 28,868 |  |  | 25,097 |
Other |  | 4,511 |  |  | 3,570 |
Total deferred tax liabilities |  | 49,864 |  |  | 36,481 |
Net deferred tax assets |  | $ | 1,522,119 |  |  | $ | 1,559,913 |
Schedule of Unrecognized Tax Benefits Rollforward | The changes in the balance of gross unrecognized tax benefits, which exclude interest and penalties, for the year ended December 31, 2024, 2023 and 2022, are as follows (in thousands):
|  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Gross unrecognized tax benefits at January 1, |  | $ | 149,172 |  |  | $ | 141,560 |  |  | $ | 63,295 |
Increases related to tax positions taken during the current year |  | 12,264 |  |  | 8,616 |  |  | 84,249 |
Increases related to tax positions taken during a prior year |  | 2,031 |  |  | 5,647 |  |  | 15,411 |
Decreases related to tax positions taken during a prior year |  | (3,924) |  |  | (533) |  |  | (2,647) |
Decreases related to expiration of statute of limitations |  | (14,009) |  |  | (3,654) |  |  | (4,582) |
Decreases related to settlement with tax authorities |  | — |  |  | (2,464) |  |  | (14,166) |
Gross unrecognized tax benefits at December 31, |  | $ | 145,534 |  |  | $ | 149,172 |  |  | $ | 141,560 |

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