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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Summary of Components of Income Taxes From Continuing Operations
The components of pretax income from continuing operations, generally based on the jurisdiction of the legal entity, were as follows:
 Year Ended December 31,
 201920182017
Components of pre-tax income:   
Domestic$30,960  $190,291  $199,685  
Foreign168,678  208,122  177,928  
 $199,638  $398,413  $377,613  
Summary of Provision for Income Tax Relating to Continuing Operations
The provision for income taxes relating to continuing operations consists of the following:
 Year Ended December 31,
 201920182017
Current portion:   
Federal$4,488  $(49,518) $50,829  
State and Local3,781  4,168  2,388  
Non U.S.49,982  59,743  26,060  
Total current58,251  14,393  79,277  
Deferred portion:   
Federal(14,215) 55,502  47,372  
State and Local(1,692) (4,812) (6,178) 
Non U.S.(7,018) (7,591) 7,566  
Total deferred(22,925) 43,099  48,760  
Total provision for income taxes$35,326  $57,492  $128,037  
Schedule of Reconciliation of Statutory Income Taxes and Effective Income Taxes Relating to Continuing Operation
The provision for income taxes relating to continuing operations differs from amounts computed at the statutory federal income tax rate as follows:
 Year Ended December 31,
 201920182017
Income tax provision at statutory federal income tax rate$41,924  $83,667  $132,165  
State income taxes, net of federal benefit2,223  (42) (1,727) 
Impact of non U.S. taxing jurisdictions, net14,078  5,591  (13,492) 
Impact of U.S. TCJA(1)
—  (26,730) 46,563  
Employee stock based compensation8,380  3,884  (2,849) 
Research tax credit(28,593) (9,818) (8,777) 
Tax receivable agreement (TRA)(2)
(536) 1,019  (20,861) 
Other, net(2,150) (79) (2,985) 
Total provision for income taxes$35,326  $57,492  $128,037  
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(1)In 2018, amount includes SAB 118 adjustments for deferred taxes and foreign tax effects. In 2017, amount includes $48 million of transition tax expense, and the remainder is the net benefit on cumulative deferred taxes.
(2)Amount includes adjustments to the TRA, which are not taxable.
Summary of Deferred Tax Assets and Liabilities
The components of our deferred tax assets and liabilities are as follows:
 As of December 31,
 20192018
Deferred tax assets:  
Accrued expenses$7,547  $8,638  
Employee benefits other than pension23,272  34,147  
Lease liabilities9,415  —  
Deferred revenue30,715  22,351  
Pension obligations27,407  26,821  
Tax loss carryforwards54,556  70,340  
Incentive consideration6,722  9,456  
Tax credit carryforwards16,136  31,467  
Suspended loss14,635  14,474  
Other5,916  8,008  
Total deferred tax assets196,321  225,702  
Deferred tax liabilities:  
Right of use assets(9,261) —  
Depreciation and amortization(7,059) (13,298) 
Software developed for internal use(66,918) (103,631) 
Intangible assets(120,528) (122,921) 
Unrealized gains and losses(18,778) (21,840) 
Non U.S. operations(13,789) (9,355) 
Investment in partnership(7,306) (6,794) 
Total deferred tax liabilities(243,639) (277,839) 
Valuation allowance(38,272) (59,294) 
Net deferred tax (liability)$(85,590) $(111,431) 
Summary of Reconciliation of Unrecognized Tax Benefit
A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and penalties, is as follows:
 Year Ended December 31,
 201920182017
Balance at beginning of year$70,327  $74,388  $49,331  
Additions for tax positions taken in the current year5,149  4,450  5,279  
Additions for tax positions of prior years12,679  2,612  21,669  
Additions for tax positions from acquisitions1,294  —  —  
Reductions for tax positions of prior years(19,611) (5,831) —  
Reductions for tax positions of expired statute of limitations(1,192) (3,143) (1,891) 
Settlements(4,001) (2,149) —  
Balance at end of year$64,645  $70,327  $74,388  
Summary of Income Tax Examinations The following table summarizes, by major tax jurisdiction, our tax years that remain subject to examination by taxing authorities:
Tax JurisdictionYears Subject to Examination
United Kingdom2013 - forward
Singapore2015 - forward
Texas2015 - forward
Uruguay2014 - forward
U.S. Federal2014 - forward