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Income Taxes
 12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The table below summarizes significant components of deferred tax assets and liabilities:
 December 31,
 20212020
Deferred tax assets  
Allowance for expected credit losses$2,048 $14,676 
Accrued vacation and bonus40,608 30,694 
Share-based compensation14,374 13,522 
Notes receivable from employees12,911 13,333 
State net operating loss carryforward1,125 2,090 
Foreign net operating and capital loss carryforward8,357 9,437 
Foreign tax credit carryforward3,536 — 
Deferred compensation534 240 
Operating lease assets64,482 41,283 
Employee benefits obligations340 2,339 
Other, net4,037 3,701 
Total deferred tax assets152,352 131,315 
Deferred tax liabilities
Revenue recognition(6,779)(8,351)
Operating lease liabilities(52,087)(28,523)
Property and equipment, net(14,766)(7,663)
Equity debt discount(4,214)(6,623)
Goodwill and intangible assets(206,105)(202,842)
Total deferred tax liabilities(283,951)(254,002)
Foreign withholding tax(1,537)(1,980)
Valuation allowance(10,315)(13,300)
Net deferred tax liabilities$(143,451)$(137,967)
As of December 31, 2021 and 2020, the Company recorded certain deferred tax assets related to foreign tax credits, capital loss and foreign net operating loss carryforwards, which can be carried forward for periods ranging from 10 years to indefinite. Based on forward-looking financial information, the Company believes it is not more likely than not that the attributes will be utilized. Therefore, valuation allowances of $10.3 million and $13.3 million are recorded against the Company’s deferred tax assets as of December 31, 2021 and 2020, respectively.
During the year ended December 31, 2021, the valuation allowance on the deferred tax assets in Australia was released because of sustained profitability. Additionally, a valuation allowance was recorded in the U.S. on foreign tax credit carryforwards as the Company does not have sufficient foreign source income in the U.S. to fully utilize the foreign tax credits.
During the year ended December 31, 2020, a U.S. subsidiary of the Company entered into an intellectual property license agreement with a United Kingdom ("U.K.") subsidiary of the Company in consideration of royalty payments that have been partially prepaid.
As of December 31, 2021, the Company has not recorded a $35.4 million deferred tax liability related to the basis difference in the investment in our foreign subsidiaries as the investment is considered permanent in nature.
The table below summarizes the components of income before income tax provision from continuing operations:
 Year Ended December 31,
 202120202019
Domestic$136,008 $122,800 $150,860 
Foreign161,939 139,646 137,590 
Total$297,947 $262,446 $288,450 
The table below summarizes the components of income tax provision from continuing operations:
 Year Ended December 31,
 202120202019
Current   
Federal$11,050 $22,164 $30,651 
State8,328 10,257 7,702 
Foreign37,656 29,390 37,083 
 57,034 61,811 75,436 
Deferred
Federal10,766 3,936 (1,767)
State3,458 362 785 
Foreign(8,277)(14,345)(2,730)
 5,947 (10,047)(3,712)
Income tax provision$62,981 $51,764 $71,724 
Our income tax provision from continuing operations resulted in effective tax rates that varied from the federal statutory income tax rate as summarized below:
 Year Ended December 31,
 202120202019
Income tax expense at federal statutory rate$62,569 $55,114 $60,575 
State income taxes, net of federal benefit8,643 10,567 8,430 
Detriment from foreign tax rates4,375 1,175 3,425 
Other expenses not deductible for tax purposes2,819 3,079 4,362 
Adjustment to reserve for uncertain tax positions2,665 (1,231)2,504 
Impact of 2017 U.S. tax reform
— — (1,088)
Sale of Ringtail business
— — (2,097)
Share-based compensation(6,167)(6,560)(4,447)
Release of valuation allowance on foreign tax credits— (7,336)— 
Income tax benefit related to the License Agreement, net— (3,899)— 
Release of valuation allowance on Australian deferred tax asset(5,063)— — 
U.S. foreign tax credits(4,859)— — 
Valuation allowance on U.S. foreign tax credit carryforwards3,536 — — 
Deferred tax benefit of U.K. tax rate change(3,167)— — 
Other adjustments, net(2,370)855 60 
Income tax provision$62,981 $51,764 $71,724 
The income tax provision for the years ended December 31, 2021 and 2020 was $63.0 million and $51.8 million, respectively. The increase in expense is primarily attributable to higher pre-tax income in 2021 as compared with 2020 and the income tax benefit related to the intellectual property license agreement between subsidiaries in 2020.
We file numerous consolidated and separate income tax returns in the U.S. federal jurisdiction and in many city, state and foreign jurisdictions. We are no longer subject to U.S. federal income tax examinations for years prior to 2017. We are also no longer subject to state and local or foreign tax examinations by tax authorities for years prior to 2012.
Our liability for uncertain tax positions was $6.4 million and $7.3 million as of December 31, 2021 and 2020, respectively. The Company expects $2.1 million of the uncertain tax positions to settle within the next 12 months. As of December 31, 2021, our accrual for the payment of tax-related interest and penalties was not significant