INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Income/(Loss) Before Provision of Income Taxes

Income/(loss) before provision for income taxes based on geographic location is disclosed in the table below:

	For the Years Ended December 31,
	2018		2017			2016
Income/(loss) before provision for income taxes:
United States	$	44,527	$	(6,595	)	$	(9,300	)
Foreign	205,246		180,900			135,766
Total	$	249,773	$	174,305		$	126,466

Provision for Income Taxes

The provision for income taxes consists of the following:

	For the Years Ended December 31,
	2018			2017			2016
Current
Federal	$	10,814		$	65,571		$	13,324
State	4,123			(204		)	(63		)
Foreign	42,580			23,617			17,243
Deferred
Federal	(37,785		)	7,235			(3,581		)
State	(3,548		)	(90		)	312
Foreign	(6,667		)	5,416			(35		)
Total	$	9,517		$	101,545		$	27,200

Effective Tax Rate Reconciliation

The reconciliation of the provision for income taxes at the federal statutory income tax rate to our effective income tax rate is as follows:

	For the Years Ended December 31,
	2018			2017			2016
Provision for income taxes at federal statutory rate	$	52,452		$	61,007		$	44,263
Increase/(decrease) in taxes resulting from:
Impact from U.S. Tax Act	(4,009		)	74,632			—
Entity classification election deferred tax asset impact	(25,962		)	—			—
GILTI and BEAT U.S. taxes	1,526			—			—
Excess tax benefits relating to stock-based compensation	(17,370		)	(9,307		)	—
Subsidiary withholding tax liability and related foreign tax credit	(4,850		)	4,850			—
Foreign tax expense and tax rate differential	(88		)	(39,997		)	(33,477		)
Effect of permanent differences	2,724			3,205			5,042
State taxes, net of federal benefit	3,452			(116		)	1,192
Change in valuation allowance	151			783			—
Stock-based compensation expense	652			6,908			9,535
Other	839			(420		)	645
Provision for income taxes	$	9,517		$	101,545		$	27,200

Significant Components of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows:

	As of    December 31,   2018			As of    December 31,   2017
Deferred tax assets:
Property and equipment	$	4,531		$	170
Intangible assets	1,262			1,456
Accrued expenses	32,067			4,392
Net operating loss carryforward	4,983			5,069
Deferred revenue	5,802			1,280
Stock-based compensation	27,558			16,197
Foreign currency exchange	5,772			—
Other assets	782			1,415
Deferred tax assets	$	82,757		$	29,979
Less: valuation allowance	(3,189		)	(924		)
Total deferred tax assets	$	79,568		$	29,055
Deferred tax liabilities:
Property and equipment	$	1,480		$	1,868
Intangible assets	5,582			3,077
Accrued revenue and expenses	1,540			1,352
U.S. taxation of foreign subsidiaries	3,000			—
Subsidiary withholding tax liability	—			4,850
Stock-based compensation	—			1,498
Other liabilities	933			239
Total deferred tax liabilities	$	12,535		$	12,884
Net deferred tax assets	$	67,033		$	16,171