Income Taxes (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2021 and 2020 due to the following (in thousands):

	2021				2020
Computed “expected” tax expense	$	64,706	21.0	%	$	49,436	21.0	%
Changes resulting from:
Foreign income tax differential	(2,692)		(0.9)	%	(3,364)		(1.4)	%
Excess tax benefit related to stock-based compensation	(5,044)		(1.6)	%	(13,449)		(5.7)	%
State taxes net of federal benefits	4,927		1.6	%	786		0.3	%
Foreign withholding	3,304		1.1	%	3,764		1.6	%
GILTI, net of foreign tax credits	1,907		0.6	%	2,341		1.0	%
Foreign sourced non taxable income	81		—	%	2,416		1.0	%
Stock-based compensation	1,043		0.3	%	355		0.2	%
Sub-part F Income	2,139		0.7	%	1,746		0.7	%
Other	3,746		1.3	%	2,562		1.1	%
Provision for income taxes	$	74,115	24.1	%	$	46,593	19.8	%