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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of income before income tax domestic and foreign |
|  | Year Ended December 31,
(in thousands) |  | 2021 |  | 2020 |  | 2019
Income before taxes: |  |  |  |  |  |
United States |  | $ | (4,775 | ) |  | $ | 40,323 |  |  | $ | 44,290 |
Foreign |  | 140,450 |  |  | (32,152 | ) |  | 389,517 |
Total income before income taxes |  | $ | 135,675 |  |  | $ | 8,171 |  |  | $ | 433,807 |
Schedule of components of income tax expense (benefit) |
|  | Year Ended December 31,
(in thousands) |  | 2021 |  | 2020 |  | 2019
Current tax expense (benefit): |  |  |  |  |  |
U.S. |  | $ | 2,810 |  |  | $ | 2,605 |  |  | $ | (4,885 | )
Foreign |  | 59,874 |  |  | 39,270 |  |  | 83,792 |
Total current |  | 62,684 |  |  | 41,875 |  |  | 78,907 |
Deferred tax expense (benefit): |  |  |  |  |  |  |  |  |
U.S. |  | 12,269 |  |  | (16,100 | ) |  | (8,424 | )
Foreign |  | (9,865 | ) |  | (14,300 | ) |  | 16,629 |
Total deferred |  | 2,404 |  |  | (30,400 | ) |  | 8,205 |
Total tax expense |  | $ | 65,088 |  |  | $ | 11,475 |  |  | $ | 87,112 |
Schedule of effective income tax rate reconciliation |
|  | Year Ended December 31,
(dollar amounts in thousands) |  | 2021 |  | 2020 |  | 2019
U.S. federal income tax expense at applicable statutory rate |  | $ | 28,492 |  |  | $ | 1,716 |  |  | $ | 91,099 |
Tax effect of: |  |  |  |  |  |  |  |  |
State income tax expense at statutory rates, net of U.S. federal income tax |  | 1,516 |  |  | 347 |  |  | 5,101 |
Non-deductible expenses |  | 538 |  |  | 1,887 |  |  | 2,896 |
Share-based compensation |  | (3,524 | ) |  | (6,446 | ) |  | (2,875 | )
Other permanent differences |  | (2,047 | ) |  | 3,828 |  |  | (864 | )
Difference between U.S. federal and foreign tax rates |  | 7,438 |  |  | 7,002 |  |  | 12,281 |
Provision in excess of statutory rates |  | 2,879 |  |  | (6,491) |  |  | 3,565 |
Change in federal and foreign valuation allowance |  | 26,673 |  |  | (4,238) |  |  | 2,144 |
Impairment of goodwill and acquired intangibles assets |  | — |  |  | 22,053 |  |  | — |
GILTI, net of tax credits |  | 3,900 |  |  | — |  |  | 6,471 |
U.S. Tax Reform - transition tax and rate change |  | — |  |  | — |  |  | (25,728 | )
Tax credits |  | (1,122 | ) |  | (3,518 | ) |  | (4,500 | )
Other |  | 345 |  |  | (4,665 | ) |  | (2,478 | )
Total income tax expense |  | $ | 65,088 |  |  | $ | 11,475 |  |  | $ | 87,112 |
Effective tax rate |  | 48.0 | % |  | 140.4 | % |  | 20.1 | %
Schedule of deferred tax assets and liabilities |
|  | As of December 31,
(in thousands) |  | 2021 |  | 2020
Deferred tax assets: |  |  |  |
Tax loss carryforwards |  | $ | 65,862 |  |  | $ | 45,609 |
Share-based compensation |  | 9,743 |  |  | 6,771 |
Accrued expenses |  | 19,907 |  |  | 22,243 |
Property and equipment |  | 11,949 |  |  | 10,835 |
Goodwill and intangible amortization |  | 9,353 |  |  | 7,614 |
Contract costs |  | 9,921 |  |  | — |
Intercompany notes |  | 6,077 |  |  | 7,689 |
Accrued revenue |  | 7,541 |  |  | 34,663 |
Tax credits |  | 65,267 |  |  | 65,388 |
Lease accounting |  | 42,381 |  |  | 39,962 |
Foreign exchange |  | 8,283 |  |  | 19,160 |
Other |  | 14,616 |  |  | 14,230 |
Gross deferred tax assets |  | 270,900 |  |  | 274,164 |
Valuation allowance |  | (100,489 | ) |  | (77,563 | )
Net deferred tax assets |  | 170,411 |  |  | 196,601 |
Deferred tax liabilities: |  |  |  |  |  |
Intangible assets related to purchase accounting |  | (11,763 | ) |  | (12,854 | )
Goodwill and intangible amortization |  | (30,339 | ) |  | (24,763 | )
Accrued expenses |  | (21,495 | ) |  | (43,971 | )
Intercompany notes |  | (10,388 | ) |  | (10,396 | )
Accrued interest |  | (34,175 | ) |  | (30,932 | )
Capitalized research and development |  | (6,376 | ) |  | (6,352 | )
Property and equipment |  | (15,597 | ) |  | (18,295 | )
Accrued revenue |  | (2,073 | ) |  | (1,829 | )
Lease accounting |  | (42,381 | ) |  | (39,962 | )
Foreign exchange |  | (1,211 | ) |  | (10,880 | )
Other |  | (3,971 | ) |  | (6,826 | )
Total deferred tax liabilities |  | (179,769 | ) |  | (207,060 | )
Net deferred tax liabilities |  | $ | (9,358 | ) |  | $ | (10,459 | )
Summary of operating loss carryforwards |
(in thousands) |  | Gross |  | Tax Effected
Year ending December 31, |  |  |  |
2022 |  | $ | 3,960 |  |  | $ | 749 |
2023 |  | 2,296 |  |  | 533 |
2024 |  | 3,153 |  |  | 711 |
2025 |  | 21,012 |  |  | 4,664 |
2026 |  | 21,767 |  |  | 4,843 |
Thereafter |  | 25,465 |  |  | 6,501 |
Unlimited |  | 189,670 |  |  | 45,792 |
Total |  | $ | 267,323 |  |  | $ | 63,793 |
Schedule of reconciliation of beginning and ending amount of unrecognized tax benefit |
|  | Year Ended December 31,
(in thousands) |  | 2021 |  | 2020
Beginning balance |  | $ | 39,785 |  |  | $ | 44,535 |
Additions based on tax positions related to the current year |  | 3,815 |  |  | 7,331 |
Additions for tax positions of prior years |  | — |  |  | — |
Reductions for tax positions of prior years |  | (1,998 | ) |  | (1,349 | )
Settlements |  | — |  |  | (10,127 | )
Statute of limitations expiration |  | (612 | ) |  | (605 | )
Ending balance |  | $ | 40,990 |  |  | $ | 39,785 |
Schedule of income tax examinations |
Jurisdictions | Periods
U.S. (Federal) | 2014 through 2021
Germany | 2016 through 2021
Greece | 2013 through 2021
Spain | 2015 through 2021
U.K. | 2018 through 2021

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