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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2020 | Dec. 31, 2019
Income Tax Disclosure [Abstract] |  |
Constituents of Provision for Income Taxes | Income tax expense (benefit) consisted of the following (in thousands):
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Current: |
Federal | $ | 160 |  |  | $ | 15,854 |  |  | $ | 10,624 |
State | 921 |  |  | 2,108 |  |  | (879) |
Foreign | 13,197 |  |  | 30,670 |  |  | 6,307 |
| 14,278 |  |  | 48,632 |  |  | 16,052 |
Deferred: |  |  |  |  |
Federal | (18,266) |  |  | 352,808 |  |  | (1,271) |
State | (556) |  |  | 183 |  |  | 554 |
Foreign | 15,269 |  |  | (442,494) |  |  | (28) |
| (3,553) |  |  | (89,503) |  |  | (745) |
| $ | 10,725 |  |  | $ | (40,871) |  |  | $ | 15,307 |
Reconciliation of the United States Federal Statutory Corporate Tax Rate to the Company's Effective Tax Rate or Income Tax Provision | A reconciliation of the U.S. federal statutory corporate tax rate to the Company’s income tax expense (benefit), or effective tax rate, was as follows:
| Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Income tax expense at U.S. federal statutory corporate tax rate | 21 | % |  | 21 | % |  | 21 | %
State income taxes, net of federal benefit | 1 |  |  | 2 |  |  | 1 |
Foreign tax rate differential | (6) |  |  | (9) |  |  | (9) |
Tax credit | (1) |  |  | (1) |  |  | — |
Discrete tax benefit related to employee stock options | (7) |  |  | (4) |  |  | (4) |
Discrete tax expense (benefit) related to tax return filings | (5) |  |  | — |  |  | — |
Discrete tax expense related to German withholding | 1 |  |  | — |  |  | — |
Discrete tax expense related to migration of acquired IP | — |  |  | 18 |  |  | — |
Discrete tax (benefit) related to change in tax structure | — |  |  | (268) |  |  | — |
Discrete tax expense related to GILTI impact of change in tax structure | — |  |  | 214 |  |  | — |
Discrete tax expense (benefit) related to Tax Act | — |  |  | — |  |  | (3) |
Other discrete tax events | — |  |  | (1) |  |  | — |
Other | 2 |  |  | 3 |  |  | 1 |
Income tax expense (benefit) | 6 | % |  | (25) | % |  | 7 | %
Schedule of Change in Accounting Policy |  | The change in this accounting policy impacted the Company's 2019 reported results as follows (in thousands):
Statement of Operations |  |  |  |  |
| Year Ended December 31, 2019
| As reported under the new accounting policy |  | As computed under the previous accounting policy |  | Effect of change
Income before income tax expense | $ | 162,994 |  |  | $ | 162,994 |  |  | $ | — |
Income tax expense (benefit) | (40,871) |  |  | (393,317) |  |  | 352,446 |
Net income | $ | 203,865 |  |  | $ | 556,311 |  |  | $ | (352,446) |
Net income per weighted-average common and common-equivalent share: |  |  |  |
Basic | $ | 1.19 |  |  | $ | 3.25 |  |  | $ | (2.06) |
Diluted | $ | 1.16 |  |  | $ | 3.17 |  |  | $ | (2.01) |
Balance Sheet |  |  |  |  |
| December 31, 2019
| As reported under the new accounting policy |  | As computed under the previous accounting policy |  | Effect of change
Deferred tax assets | $ | 449,519 |  |  | $ | 469,621 |  |  | $ | (20,102) |
Deferred tax liabilities | $ | 332,344 |  |  | $ | — |  |  | $ | 332,344 |
Statement of Shareholders' Equity |  |  |  |  |
| Year Ended December 31, 2019
| As reported under the new accounting policy |  | As computed under the previous accounting policy |  | Effect of change
Retained earnings | $ | 753,268 |  |  | $ | 1,105,714 |  |  | $ | (352,446) |
Changes in the Reserve for Income Taxes, Excluding Interest and Penalties | The changes in the reserve for income taxes, excluding gross interest and penalties, were as follows (in thousands):
Balance of reserve for income taxes as of December 31, 2018 | $ | 7,294 |
Gross amounts of increases in unrecognized tax benefits as a result of tax positions taken in prior periods | 199 |
Gross amounts of increases in unrecognized tax benefits as a result of tax positions taken in the current period | 5,259 |
Gross amounts of decreases in unrecognized tax benefits as a result of the expiration of the applicable statutes of limitations | (1,161) |
Balance of reserve for income taxes as of December 31, 2019 | 11,591 |
Gross amounts of increases in unrecognized tax benefits as a result of tax positions taken in prior periods | 162 |
Gross amounts of increases in unrecognized tax benefits as a result of tax positions taken in the current period | 3,383 |
Gross amounts of decreases in unrecognized tax benefits as a result of the expiration of the applicable statutes of limitations | (1,184) |
Balance of reserve for income taxes as of December 31, 2020 | $ | 13,952 |
Constituents of Deferred Tax Assets | Deferred tax assets and liabilities, presented on a gross basis by jurisdiction, consisted of the following (in thousands):
| December 31,
| 2020 |  | 2019
Non-current gross deferred tax assets: |  |  |
Intangible asset in connection with change in tax structure | $ | 424,156 |  |  | $ | 437,500 |
Stock-based compensation expense | 13,294 |  |  | 15,042 |
Federal and state tax credit carryforwards | 10,171 |  |  | 8,491 |
Inventory and revenue related | 5,976 |  |  | 2,934 |
Bonuses, commissions, and other compensation | 4,932 |  |  | 1,609 |
Depreciation | 4,211 |  |  | 3,522 |
Foreign net operating losses | 602 |  |  | 4,286 |
Other | 4,342 |  |  | 3,550 |
Gross non-current deferred tax assets | 467,684 |  |  | 476,934 |
Valuation allowance | (8,568) |  |  | (7,312) |
| $ | 459,116 |  |  | $ | 469,622 |
Non-current gross deferred tax liabilities: |  |  |
GILTI tax basis differences in connection with change in tax structure | $ | (339,325) |  |  | $ | (350,000) |
Other GILTI tax basis differences | (39) |  |  | (2,446) |
| $ | (339,364) |  |  | $ | (352,446) |

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- Definition Tabular disclosure of the change in an accounting estimate, including a change that occurs in an interim period. If a change in accounting estimate affects several future periods (for example, a change in the service life of a depreciable asset) disclose the effect on income from continuing operations, net income (or other appropriate captions of changes in the applicable net assets or performance indicator), and any related per-share amounts of the current period. Disclosure of the effects of a change in an accounting estimate that occurs in the ordinary course of business (such as uncollectible accounts or inventory obsolescence) is not required, unless the effect is material. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=116846552&loc=d3e777-108305 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794 + Details
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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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- 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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