Income Taxes (Tables)

3 Months Ended

Mar. 31, 2021

Income Tax Disclosure [Abstract]

Summary of Provision for Income Taxes and U.S. Federal Tax Rate

The provision for income taxes differs from amounts computed by applying the U.S. federal tax rate of 21% for 2021 and 2020 to income before income taxes for the three months ended March 31, 2021 and 2020 due to the following (in thousands):

	2021				2020
Computed “expected” tax expense	$	49,493	21.0	%	$	36,182	21.0	%
Changes resulting from:
Foreign income tax differential	(3,830)		(1.6)	%	(8,112)		(4.7)	%
Foreign withholding tax credit	—		—	%	(7,651)		(4.4)	%
Excess tax benefit related to stock-based compensation	(9,413)		(4.0)	%	(17,098)		(9.9)	%
State taxes net of federal benefits	2,685		1.1	%	774		0.4	%
Increase in tax expense due to uncertain tax positions	2,412		1.0	%	1,770		1.0	%
Sub-part F Income	1,326		0.6	%	2,260		1.3	%
Foreign withholding	3,643		1.5	%	4,585		2.7	%
GILTI, net of foreign tax credits	2,992		1.3	%	2,426		1.4	%
Change in valuation allowance and remeasurement of related deferred tax asset	—		—	%	7,651		4.4	%
Other	2,133		0.9	%	2,452		1.4	%
Provision for income taxes	$	51,441	21.8	%	$	25,239	14.6	%