Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Sources of Income Before Income Taxes

The sources of income before income taxes were as follows (in thousands):

	Year Ended December 31,
	2016		2015		2014
U.S.	$	68,222	$	15,897	$	124,032
Foreign		95,394		44,945		53,622
Income before income taxes	$	163,616	$	60,842	$	177,654

Component of Income Tax Provision

The income tax provision consists of the following (in thousands):

	Year Ended December 31,
	2016			2015			2014
Current:
Federal	$	47,588		$	36,345		$	36,205
Foreign		18,953			15,204			13,603
State		13,915			6,237			10,302
Total		80,456			57,786			60,110
Deferred:
Federal		(38,571	)		(25,083	)		(9,697	)
Foreign		(4,148	)		(9,367	)		(5,318	)
State		(5,117	)		(5,356	)		1,432
Total		(47,836	)		(39,806	)		(13,583	)
Total	$	32,620		$	17,980		$	46,527

Summary of Reconciliation Between Expected Tax Expense and Actual Tax Provision

The reconciliation between the expected tax expense and the actual tax provision is computed by applying the U.S. federal corporate income tax rate of 35% to income before income taxes as follows (in thousands):

	Year Ended December 31,
	2016			2015			2014
Computed “expected” tax expense	$	57,265		$	21,295		$	62,179
Increase (decrease) in income tax expense resulting from:
State income taxes (net of federal income tax benefit)		5,674			2,656			7,217
Foreign operations		(33,614	)		(11,281	)		(26,232	)
Rate change impact on tax liabilities		—			(1,021	)		—
Effect of valuation allowance		2,076			3,242			1,351
Uncertain tax positions		6,515			3,903			3,933
Tax credits		(3,748	)		(3,493	)		(993	)
Non-deductible transaction costs		—			2,354			—
Other		(1,548	)		325			(928	)
Provision for income taxes	$	32,620		$	17,980		$	46,527

Components of Deferred Income Taxes

The components of deferred income taxes at December 31, 2016 and 2015 are as follows (in thousands):

	2016					2015
	Deferred			Deferred		Deferred			Deferred
	Tax			Tax		Tax			Tax
	Assets			Liabilities		Assets			Liabilities
Net operating loss carryforwards	$	34,666		$	—	$	23,249		$	—
Deferred compensation		26,196			—		23,625			—
Tax credit carryforwards		21,905			—		31,257			—
Accrued expenses		8,478			—		9,589			—
Other		1,699			—		773			—
Impaired investment interest		810			—		846			—
Customer relationships		—			351,448		—			390,348
Acquired technology		—			100,691		—			125,022
Other intangible assets		—			38,728		—			26,520
Trade names		—			10,404		—			12,379
Unremitted foreign earnings		—			6,111		—			5,502
Deferred revenue		—			3,166		—			20,689
Property and equipment		—			2,989		1,766			—
Total		93,754			513,537		91,105			580,460
Valuation allowance		(31,362	)		—		(18,020	)		—
Total	$	62,392		$	513,537	$	73,085		$	580,460

Summary of Activity Related to Company's Unrecognized Tax Benefits

The following table summarizes the activity related to the Company’s unrecognized tax benefits for the years ended December 31, 2016 and 2015 (in thousands):

Balance at December 31, 2014	$	15,657
Increases related to current year tax positions		4,880
Increases related to prior tax positions		1,179
Increases related to acquired tax positions		37,456
Settlements		(2,883	)
Lapse in statute of limitation		(60	)
Foreign exchange translation adjustment		(489	)
Balance at December 31, 2015		55,740
Increases related to current year tax positions		7,567
Increases related to prior tax positions		4,896
Increases related to acquired tax positions		453
Lapse in statute of limitation		(5,629	)
Foreign exchange translation adjustment		(39	)
Balance at December 31, 2016	$	62,988