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Income Taxes | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Income Taxes [Text Block] | Income Taxes The provision for income taxes for the years ended December 31 consists of the following:
(thousands) | 2022 |  | 2021 |  | 2020
Current: |  |  |  |  |
Federal | $ | 139,730 |  |  | $ | 68,555 |  |  | $ | 5,085 |
State | 29,117 |  |  | 18,418 |  |  | 7,114 |
International | 293,195 |  |  | 214,184 |  |  | 130,883 |
| $ | 462,042 |  |  | $ | 301,157 |  |  | $ | 143,082 |
Deferred: |  |  |  |  |
Federal | $ | (39,658) |  |  | $ | (347) |  |  | $ | 13,496 |
State | (5,613) |  |  | (388) |  |  | 4,603 |
International | 32,221 |  |  | 25,484 |  |  | 11,614 |
| (13,050) |  |  | 24,749 |  |  | 29,713 |
| $ | 448,992 |  |  | $ | 325,906 |  |  | $ | 172,795 |
The principal causes of the difference between the U.S. federal statutory tax rate of 21% and effective income tax rates for the years ended December 31 are as follows:
(thousands) | 2022 |  | 2021 |  | 2020
United States | $ | 517,642 |  |  | $ | 339,499 |  |  | $ | 104,637 |
International | 1,366,508 |  |  | 1,096,875 |  |  | 654,622 |
Income before income taxes | $ | 1,884,150 |  |  | $ | 1,436,374 |  |  | $ | 759,259 |
Provision at statutory tax rate | $ | 395,672 |  |  | $ | 301,638 |  |  | $ | 159,444 |
State taxes, net of federal benefit | 18,675 |  |  | 14,162 |  |  | 10,218 |
International effective tax rate differential | 26,210 |  |  | (5,402) |  |  | 3,112 |
U.S. tax on foreign earnings | 3,879 |  |  | 10,289 |  |  | 5,316 |
Tax expense on wind down of business (a) | — |  |  | — |  |  | 1,937 |
Change in valuation allowance | (6,378) |  |  | (1,723) |  |  | 2,906 |
Other non-deductible expenses | 7,441 |  |  | 9,058 |  |  | 2,600 |
Changes in tax accruals | 5,993 |  |  | 9,937 |  |  | 3,089 |
Tax credits | 980 |  |  | (17,555) |  |  | (16,075) |
Other | (3,480) |  |  | 5,502 |  |  | 248 |
Provision for income taxes | $ | 448,992 |  |  | $ | 325,906 |  |  | $ | 172,795 |
(a)The wind down of the company’s personal computer and mobility asset disposition business resulted in net tax expense of $1.9 million during 2020. The company is subject to taxation of global intangible low-taxed income (“GILTI”) on foreign subsidiaries and a tax provision to deduct a portion of foreign-derived intangible income (“FDII”) of U.S. corporations. GILTI tax expense, accounted for as a current period cost, net of FDII benefit, resulted in a net tax expense (benefit) of $(7.4) million, $(12.3) million, and $0.2 million during 2022, 2021, and 2020, respectively. As of December 31, 2022, a long-term tax payable of $24.2 million was recorded in “Other liabilities” in the consolidated balance sheets for a one-time transition tax on the foreign subsidiaries' accumulated unremitted earnings related to the 2017 U.S. Tax Cuts and Jobs Act. At December 31, 2022, the company had a liability for unrecognized tax position of $75.7 million. The timing of the resolution of these uncertain tax positions is dependent on the tax authorities' income tax examination processes. Material changes are not expected; however, it is possible that the amount of unrecognized tax benefits with respect to uncertain tax positions could increase or decrease during 2023. Currently, the company is unable to make a reasonable estimate of when tax cash settlement would occur and how it would impact the effective tax rate. A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31 is as follows:
(thousands) | 2022 |  | 2021 |  | 2020
Balance at beginning of year | $ | 71,422 |  |  | $ | 62,203 |  |  | $ | 52,986 |
Additions based on tax positions taken during a prior period | 6,760 |  |  | 2,528 |  |  | 8,574 |
Reductions based on tax positions taken during a prior period | (3,007) |  |  | (1,542) |  |  | (1,749) |
Additions based on tax positions taken during the current period | 3,526 |  |  | 9,326 |  |  | 5,174 |
Reductions based on tax positions taken during the current period | — |  |  | (370) |  |  | (831) |
Reductions related to settlement of tax matters | (2,271) |  |  | (692) |  |  | (538) |
Reductions related to a lapse of applicable statute of limitations | (764) |  |  | (31) |  |  | (1,413) |
Balance at end of year | $ | 75,666 |  |  | $ | 71,422 |  |  | $ | 62,203 |
Interest costs related to unrecognized tax benefits are classified as a component of “Interest and other financing expense, net” in the company's consolidated statements of operations. In 2022, 2021, and 2020, the company recognized $4.4 million, $1.3 million, and $1.9 million, respectively, of interest expense related to unrecognized tax benefits. At December 31, 2022 and 2021, the company had accrued a liability of $13.5 million and $9.1 million, respectively, for interest related to unrecognized tax benefits. In many cases the company's uncertain tax positions are related to tax years that remain subject to examination by tax authorities. The following describes the open tax years, by major tax jurisdiction, as of December 31, 2022:
United States - Federal |  | 2016 - present
United States - States |  | 2015 - present
Germany (a) |  | 2015 - present
China and Hong Kong |  | 2015 - present
Italy (a) |  | 2013 - present
Netherlands |  | 2017 - present
Sweden |  | 2015 - present
Taiwan |  | 2017 - present
United Kingdom |  | 2018 - present
(a) Includes federal as well as local jurisdictions. Deferred income taxes are provided for the effects of temporary differences between the tax basis of an asset or liability and its reported amount in the consolidated balance sheets. These temporary differences result in taxable or deductible amounts in future years. Deferred tax assets and liabilities consist of the following at December 31:
(thousands) | 2022 |  | 2021
Deferred tax assets: |  |  |
Net operating loss carryforwards | $ | 18,409 |  |  | $ | 50,015 |
Capital loss carryforwards | 56,618 |  |  | 57,102 |
Inventory adjustments | 46,188 |  |  | 55,755 |
Allowance for doubtful accounts | 25,779 |  |  | 21,382 |
Accrued expenses | 35,940 |  |  | 43,995 |
Interest carryforward | 4,014 |  |  | 11,160 |
Stock-based compensation awards | 7,559 |  |  | 6,981 |
Lease liability | 71,415 |  |  | 69,856 |
Research and experimentation costs (a) | 33,426 |  |  | — |
Other | — |  |  | 6,291 |
| 299,348 |  |  | 322,537 |
Valuation allowance | (75,842) |  |  | (82,220) |
Total deferred tax assets | $ | 223,506 |  |  | $ | 240,317 |
Deferred tax liabilities: |  |  |
Goodwill | $ | (144,287) |  |  | $ | (135,285) |
Depreciation | (76,527) |  |  | (96,097) |
Intangible assets | (3,042) |  |  | (8,429) |
Lease right-of-use assets | (66,775) |  |  | (64,902) |
Other comprehensive income items | (9,842) |  |  | — |
Other | (3,002) |  |  | — |
Total deferred tax liabilities | $ | (303,475) |  |  | $ | (304,713) |
Total net deferred tax assets (liabilities) | $ | (79,969) |  |  | $ | (64,396) |
(a) At December 31, 2022, the company recorded deferred tax asset of $33.4 million related to capitalized U.S. based research and experimental (“R&E”) costs, pursuant to the U.S. Internal Revenue Code Section 174, as amended by the 2017 U.S. Tax Cuts and Jobs Act. At December 31, 2022, the company had international tax loss carryforwards of approximately $37.1 million, of which $3.8 million have expiration dates ranging from 2023 to 2042, and the remaining $33.3 million have no expiration date. Deferred tax assets related to these international tax loss carryforwards were $9.8 million with a corresponding valuation allowance of $2.5 million. At December 31, 2022, the company had a valuation allowance of $3.6 million related to other deferred tax assets. At December 31, 2022, the company also had deferred tax assets of $0.1 million related to U.S. Federal net operating loss carryforwards from acquired subsidiaries. These U.S. Federal net operating losses expire in various years beginning after 2028. Additionally, as of December 31, 2022, the company had deferred tax assets of approximately $8.5 million with a corresponding valuation allowance of $7.9 million, related to U.S. state net operating loss carryforwards. Valuation allowances are needed when deferred tax assets may not be realized due to the uncertainty of the timing and the ability of the company to generate sufficient future taxable income in certain tax jurisdictions. The company has $3.3 billion of undistributed earnings of its foreign subsidiaries which it deems indefinitely reinvested, and recognizes that it may be subject to additional foreign taxes and U.S. state income taxes, if it reverses its indefinite reinvestment assertion on these foreign earnings. The company has $2.1 billion of foreign earnings that are not deemed permanently reinvested and are available for distribution in future periods as of December 31, 2022, after distributions of $53.6 million and $349.0 million during 2021 and 2020, respectively. Income taxes paid, net of income taxes refunded, amounted to $384.4 million, $221.1 million, and $160.1 million in 2022, 2021, and 2020, respectively.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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