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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Provision for Income Tax

The continuing operations income tax (expense) benefit consisted of the following (in thousands):

			Years ended December 31,
			2024						2023						2022
Current:
Federal			$	(33,333)					$	(29,040)					$	(42,698)
State			(8,625)						(8,179)						(12,184)
Foreign			(18,234)						(16,940)						(16,066)
Total current			(60,192)						(54,159)						(70,948)
Deferred:
Federal			14,684						20,817						12,667
State			2,144						7,177						(1,577)
Foreign			1,994						2,023						1,901
Total deferred			18,822						30,017						12,991
Income tax expense from continuing operations			$	(41,370)					$	(24,142)					$	(57,957)

Reconciliation of Statutory Federal Income Tax Rate with Effective Income Tax Rate

A reconciliation of the statutory federal income tax rate with the Company’s continuing operations effective income tax rate is as follows:

			Years ended December 31,
			2024						2023						2022
Statutory tax rate			21.0		%				21.0		%				21.0		%
State income taxes, net			5.9						6.5						5.0
Foreign rate differential			4.3						3.1						1.0
Foreign income inclusion			3.1						6.0						5.4
Foreign tax credit			(3.1)						(4.7)						(5.1)
Reserve for uncertain tax positions			(6.1)						(5.9)						(3.2)
Valuation allowance			6.3						—						—
Impact on deferred taxes of enacted tax law and rate changes			—						0.6						1.4
Tax credits and incentives			(6.5)						(8.4)						(5.0)
Impairment of goodwill			19.2						16.0						—
Mark-to market on investment in Consensus			—						—						22.1
Return to provision adjustments			(2.3)						(5.1)						1.1
Executive compensation			3.2						2.4						1.5
Other			(0.6)						0.7						(1.0)
Effective tax rates			44.4		%				32.2		%				44.2		%

Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities result from differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities. Temporary differences and carryforwards which give rise to deferred tax assets and liabilities from continuing operations are as follows (in thousands):

			Years ended December 31,
			2024						2023
Deferred tax assets:
Net operating loss and other carryforwards			$	14,923					$	15,762
Tax credit carryforwards			3,727						4,743
Accrued expenses			12,019						14,629
Allowance for bad debt			2,514						2,003
Share-based compensation expense			8,634						6,097
Operating lease liabilities			5,717						6,320
Basis difference in fixed assets			39,242						22,191
Deferred revenue			3,413						2,420
Convertible debt			2,952						—
State taxes			2,526						1,974
Other			1,675						2,468
			97,342						78,607
Less: valuation allowance			(7,669)						(1,720)
Total deferred tax assets			$	89,673					$	76,887
Deferred tax liabilities:
Operating lease right-of-use assets			(5,040)						(4,618)
Basis difference in intangible assets			(103,676)						(86,712)
Unrealized gains on investments			(13,364)						(13,512)
Prepaid insurance			(2,111)						(2,835)
Other			(4,014)						(5,982)
Total deferred tax liabilities			(128,205)						(113,659)
Net deferred tax liabilities			$	(38,532)					$	(36,772)

Summary of Valuation Allowance on Deferred Tax Assets From Continuing Operations

The rollforward of the valuation allowance on the deferred tax assets from continuing operations is as follows (in thousands):

			Years ended December 31,
			2024						2023						2022
Beginning balance			$	1,720					$	1,699					$	1,812
Charges to costs and expenses			5,949						21						—
Write-offs and recoveries			—						—						(113)
Ending balance			$	7,669					$	1,720					$	1,699

Schedule of Unrecognized Tax Benefits

The aggregate changes in the balance of unrecognized tax benefits, which excludes interest and penalties, for the years ended December 31, 2024, 2023, and 2022, is as follows (in thousands):

			Years ended December 31,
			2024						2023						2022
Beginning balance			$	29,158					$	34,208					$	39,527
Increases related to tax positions during a prior year			275						218						—
Decreases related to tax positions taken during a prior year			(540)						(1,023)						(2,816)
Increases related to tax positions taken in the current year			635						744						819
Decreases related to expiration of statute of limitations			(6,911)						(4,989)						(3,322)
Ending balance			$	22,617					$	29,158					$	34,208

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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 the change in unrecognized tax benefits.

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