Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Tax, Domestic and Foreign

Total income before income taxes, classified by source of income, was as follows:

	Year Ended December 31,
(in thousands)	2021		2020		2019
U.S.	$	355,408	$	38,475	$	259,943
Outside the U.S.	21,084		14,531		9,986
Income from continuing operations before income taxes	$	376,492	$	53,006	$	269,929

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes, classified by the timing and location of payment, was as follows:

	Year Ended December 31,
(in thousands)	2021		2020		2019
Current tax expense
Federal	$	71,573	$	14,345	$	31,556
State	15,605		4,303		10,154
Foreign	1,041		2,300		1,619
Deferred tax (benefit) expense
Federal	(2,690)		(12,333)		3,380
State	(1,254)		(1,953)		1,635
Foreign	3,260		(29,043)		(1,293)
Income tax expense (benefit)	$	87,535	$	(22,381)	$	47,051

Schedule of Deferred Tax Assets and Liabilities

Net deferred tax assets as of December 31, 2021 were as follows:

	December 31,
(in thousands)	2021		2020
Deferred tax assets:
Accrued compensation	$	13,997	$	13,251
Deferred revenue	36,666		26,430
Receivable, net	11,776		18,044
Tax credits	14,217		11,671
Operating lease liabilities	6,621		6,359
Partnership interests	4,398		—
Foreign net operating losses	7,478		5,749
Non-U.S. intellectual property	21,402		30,243
Other	5,727		5,420
Total gross deferred tax assets	122,282		117,167
Less: Valuation allowance	(19,734)		(20,099)
Deferred tax assets	$	102,548	$	97,068
Deferred tax liabilities:
Property, equipment and intangible assets	$	(28,276)	$	(20,331)
Operating lease ROU assets	(4,350)		(6,359)
Partnership interests	—		(550)
Other	(1,279)		(2,083)
Deferred tax liabilities	(33,905)		(29,323)
Net deferred tax assets	$	68,643	$	67,745

Schedule of Effective Income Tax Rate Reconciliation

The statutory United States federal income tax rate reconciles to the effective income tax rates for continuing operations as follows:

	Year Ended December 31,
	2021		2020		2019
Statutory U.S. federal income tax rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal tax benefit	3.1	%	4.6	%	3.5	%
Benefits related to foreign operations	(0.2)	%	(4.2)	%	(0.6)	%
Expenses (benefits) related to compensation, net	0.5	%	(5.8)	%	(1.3)	%
Unrecognized tax positions	0.2	%	4.7	%	2.0	%
International Reorganization	1.1	%	(65.2)	%	—	%
Tax credits	(1.8)	%	(15.2)	%	(9.9)	%
Valuation allowance	(0.2)	%	17.5	%	3.4	%
Other	(0.4)	%	0.4	%	(0.7)	%
Effective income tax rates	23.3	%	(42.2)	%	17.4	%

Reconciliation of Unrecognized Tax Benefits

The following table presents a reconciliation of the beginning and ending amounts of unrecognized tax benefits:

(in thousands)	2021		2020		2019
Balance, January 1	$	10,193	$	7,738	$	1,588
Changes for tax positions of prior years	156		1,174		4,633
Increases for tax positions related to the current year	1,618		1,281		2,084
Settlements and lapsing of statutes of limitations	(820)		—		(567)
Balance, December 31	$	11,147	$	10,193	$	7,738