Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

U.S. and Foreign Components of Loss Before Income Taxes

The components of the provision for income taxes for the periods indicated are as follows (in thousands):

	Year Ended December 31,
	2020		2019		2018
United States	$	(1,804,623)	$	(2,600,858)	$	(900,642)
Foreign	7,232		973		(9,955)
Loss before income taxes	$	(1,797,391)	$	(2,599,885)	$	(910,597)

Components of Provision for Income Taxes

The provision for income taxes for the periods indicated are as follows (in thousands):

	Year Ended December 31,
	2020		2019		2018
Current provision
Federal	$	—	$	—	$	—
State	1,201		2,704		1,250
Foreign	1,156		1,901		116
Total current	$	2,357	$	4,605	$	1,366
Deferred provision
Federal	(36,375)		(269)		—
State	(9,534)		(891)		—
Foreign	(982)		(1,089)		(628)
Total deferred	(46,891)		(2,249)		(628)
Total provision for (benefit from) income taxes	$	(44,534)	$	2,356	$	738

Reconciliation of Statutory Federal Income Tax Rate to the Effective Rate

A reconciliation of the U.S. federal statutory income tax rates to the Company’s effective tax rate is as follows:

	Year Ended December 31,
	2020		2019		2018
Provision at federal statutory rate	21.0	%	21.0	%	21.0	%
State, net of federal benefit	3.2		7.6		6.0
Permanent tax adjustments	(1.0)		(0.4)		(0.8)
Stock-based compensation	1.0		9.9		0.8
Convertible senior notes	2.7		—		—
Change in valuation allowance	(24.0)		(38.1)		(27.6)
Other adjustments	(0.3)		(0.2)		0.5
Provision for income taxes	2.6	%	(0.2)	%	(0.1)	%

Schedule of Deferred Tax Assets and Liabilities

The significant components of the Company’s deferred tax assets and liabilities as of the periods indicated were as follows (in thousands):

	December 31,
	2020		2019
Deferred tax assets:
Net operating loss carryforwards	$	1,697,745	$	1,173,732
Insurance reserves	282,857		391,250
Accrued and other liabilities	395,425		369,018
Total deferred tax assets	2,376,027		1,934,000
Less: Valuation allowance	(2,144,548)		(1,751,118)
Deferred tax assets, net of valuation allowance	231,479		182,882
Deferred tax liabilities:
State income taxes	(108,250)		(92,585)
Operating lease right of use assets	(75,271)		(88,376)
Convertible senior notes	(46,324)		—
Total deferred tax liabilities	(229,845)		(180,961)
Net deferred tax assets	$	1,634	$	1,921

Summary of Rollforward of Valuation Allowance

A reconciliation of the valuation allowance is as follows (in thousands):

	Year Ended December 31,
	2020		2019		2018
Beginning balance	$	1,751,118	$	761,728	$	507,274
Net changes in deferred tax assets and liabilities	393,430		989,390		254,454
Ending balance	$	2,144,548	$	1,751,118	$	761,728