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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Components Of Income Before Income Taxes

Income before income taxes consisted of the following:

			Year ended December 31,
(In thousands)			2021						2020						2019
United States			$	194,358					$	(163,014)					$	178,235
Foreign			9,588						(138,067)						38,281
Total			$	203,946					$	(301,081)					$	216,516

Components Of Income Tax Expense (Benefit)

Income taxes from continuing operations consisted of the following for the years ended December 31:

(In thousands)			United States						State and Local						Foreign						Total
2021
Current			$	37,001					$	7,104					$	10,824					$	54,929
Deferred			$	(7,374)					$	6,448					$	13,804					$	12,878
Income taxes																					$	67,807
2020
Current			$	(7,546)					$	2,509					$	13,782					$	8,745
Deferred			$	(22,568)					$	(4,943)					$	(1,831)					$	(29,342)
Income taxes																					$	(20,597)
2019
Current			$	20,748					$	4,486					$	16,322					$	41,556
Deferred			$	19,946					$	3,831					$	(4,110)					$	19,667
Income taxes																					$	61,223

Reconciliation Of Provision Of Income Taxes

The reconciliation between the income tax computed by applying the U.S. federal statutory rate and the reported effective tax rate on income from continuing operations is as follows:

			Year ended December 31,
(In thousands except for tax rates)			2021						2020						2019
Federal statutory rate			21.0		%				21.0		%				21.0		%
State income taxes (net of federal income tax benefit)			2.9						1.6						1.4
Foreign income tax rate differential			1.3						3.3						0.8
Revaluation of deferred tax assets for foreign and state tax rate changes, net			0.3						(1.9)						(1.0)
Loss on sale of subsidiary			—						(2.3)						—
Legal settlement			—						(5.1)						—
Purchase accounting adjustments1			—						4.3						—
Tax credits			(6.2)						—						(0.5)
Tax reserves			0.5						(0.1)						0.8
Withholding taxes			—						(0.1)						0.7
Change in valuation allowance			16.1						(13.5)						3.1
Nondeductible expenses			3.2						(1.6)						2.3
Incremental tax benefit from share-based compensation awards			(5.7)						0.2						(2.0)
GILTI			—						—						0.5
Other			(0.2)						1.0						1.2
Effective tax rate			33.2		%				6.8		%				28.3		%

1 Purchase accounting adjustments in 2020 relate to the additional tax basis and attributes for Discovery Benefits and Noventis recognized in the income tax benefit as the respective measurement periods had ended.

Deferred Tax Assets And Liabilities

The tax effects of temporary differences in the recognition of income and expense for tax and financial reporting purposes that give rise to significant portions of the deferred tax assets and liabilities are presented below:

			December 31,
(In thousands)			2021						2020
Deferred tax assets related to:
Reserve for credit losses			$	14,355					$	14,484
Tax credit carryforwards			12,480						1,371
Stock-based compensation, net			23,337						21,376
Net operating loss carry forwards			52,820						45,612
Capital loss carry forwards			26,628						28,211
Accruals			42,669						29,477
Operating lease liabilities			23,155						24,142
Deferred financing costs			4,364						—
Contractual obligations			16,891						—
Other			4,325						9,013
Total			$	221,024					$	173,686
Deferred tax liabilities related to:
Deferred financing costs			$	—					$	(13,590)
Property, equipment and capitalized software			(33,903)						(34,232)
Intangibles			(260,365)						(247,361)
Operating lease assets			(19,135)						(20,425)
Other liabilities			—						(107)
Total			$	(313,403)					$	(315,715)
Valuation allowance			(94,951)						(60,569)
Deferred income taxes, net			$	(187,330)					$	(202,598)

Net Deferred Tax Assets By Jurisdiction

Net deferred tax (liabilities) assets by jurisdiction are as follows:

			December 31,
(In thousands)			2021						2020
United States			$	(187,978)					$	(201,739)
Australia			1,290						4,009
Europe			4,151						14,839
Singapore			(4,978)						(19,863)
Other			185						156
Deferred income taxes, net			$	(187,330)					$	(202,598)

Reconciliation Of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits excluding interest and penalties is as follows:

			Year ended December 31,
(In thousands)			2021						2020						2019
Beginning balance			$	4,133					$	10,320					$	8,996
Increases related to prior year tax positions			830						—						1,727
Decreases related to prior year tax positions			—						(826)						(39)
Settlements			—						(5,361)						(364)
Ending balance			$	4,963					$	4,133					$	10,320

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