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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Domestic and Foreign Components of Loss before Provision for Income Taxes

The domestic and foreign components of income before income taxes consisted of the following:

			Years Ended December 31,
			2023						2022						2021
			(In thousands)
United States			$	465,463					$	417,636					$	102,886
Foreign			47,676						34,412						18,042
Income before income taxes			$	513,139					$	452,048					$	120,928

Schedule of Provision for Income Taxes

The income taxes provision for (benefit from) the years presented is as follows:

			Years Ended December 31,
			2023						2022						2021
			(In thousands)
Current:
Federal			$	96,151					$	34,499					$	—
State			13,937						9,719						488
Foreign			11,303						10,605						6,232
			121,391						54,823						6,720
Deferred:
Federal			(50,211)						(6,245)						(28,398)
State			1,287						3,806						(4,380)
Foreign			1,736						2,305						1,537
			(47,188)						(137)						(31,241)
Income taxes provision for (benefit from)			$	74,203					$	54,686					$	(24,521)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the income taxes provision (benefit) and the amount computed by applying the statutory federal income tax rate of 21% to income before income taxes for the years presented is as follows:

			Years Ended December 31,
			2023						2022						2021
			(In thousands)
Income tax provision at statutory federal rate			$	107,760					$	94,926					$	27,681
State taxes, net of federal benefit			18,107						9,980						489
Foreign tax rate and tax law differential			5,965						4,905						1,073
Tax credits			(29,229)						(19,864)						(15,632)
Non-taxable income related to Section 45X tax credits			(11,229)						—						—
Stock-based compensation			(13,969)						(45,551)						(80,950)
Other permanent items			(964)						4,149						178
Other nondeductible/nontaxable items			(724)						(62)						2,316
Uncertain tax positions			8,432						6,073						6,911
Foreign-derived intangible income deduction			(15,391)						(9,161)						—
Section 162(m)			5,445						9,291						25,812
Convertible notes settlements			—						—						8,223
Warrant mark-to-mark adjustment			—						—						(622)
Income tax provision (benefit)			$	74,203					$	54,686					$	(24,521)

Schedule of Deferred Tax Assets and Liabilities

A summary of significant components of the Company’s deferred tax assets and liabilities as of December 31, 2023 and 2022 is as follows:

			December 31,
			2023						2022
			(In thousands)
Deferred tax assets:
Allowances and reserves			$	53,191					$	40,166
Net operating loss and tax credit carryforwards			23,267						26,748
Stock-based compensation			15,811						20,230
Deferred revenue			53,656						40,120
Fixed assets, goodwill and intangibles			—						609
Convertible notes and related hedges			38,773						49,405
Capitalized research and development expense			83,098						47,870
Other			15,189						11,099
Subtotal			282,985						236,247
Total deferred tax assets			282,985						236,247
Deferred tax liabilities:
Fixed assets and intangibles			(2,833)						—
Unremitted foreign earnings			(5,189)						(3,755)
Deferred cost of goods sold			(27,782)						(32,449)
Total deferred tax liabilities			(35,804)						(36,204)
Net deferred tax asset			$	247,181					$	200,043

Schedule of Reconciliation of Total Amounts of Unrecognized Tax Benefits

A tabular reconciliation of the total amounts of unrecognized tax benefits for the years presented is as follows (in thousands):

			Years Ended December 31,
			2023						2022						2021
Unrecognized tax benefits—at beginning of year			$	21,768					$	20,904					$	8,421
Increases (decreases) in balances related to tax positions taken in prior years			(417)						(4,786)						4,391
Increases in balances related to tax positions taken in current year			5,985						6,562						8,301
Settlements			—						(657)						—
Lapses in statutes of limitations			(118)						(255)						(209)
Unrecognized tax benefits—at end of year			$	27,218					$	21,768					$	20,904

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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.

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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.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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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.

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