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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Schedule of income tax (benefit)/expense on income/(loss)
Income tax (benefit)/expense on income/(loss) analyzed by jurisdiction is as follows:
Year ended December 31,
202120202019
Current
U.K.$4,374 $1,288 $677 
U.S. Federal4,798 17,540 6,917 
U.S. State289 2,861 988 
Other20,206 15,855 9,959 
Total current29,667 37,544 18,541 
Deferred
U.K.(8,254)(15,932)— 
U.S. Federal5,987 (15,020)(824)
U.S. State(2,771)(1,013)(223)
Other(12,331)(8,277)(7,293)
Total deferred
(17,369)(40,242)(8,340)
Total provision (benefit) for income taxes $12,298 $(2,698)$10,201 
Schedule of components of pre-tax loss
The components of pre-tax loss are as follows:
Year ended December 31,
202120202019
U.K. (loss)$(13,059)$(347,158)$(246,688)
U.S. income (loss)(284,853)(47,198)3,733 
Other income (loss)39,762 41,033 (5,477)
Pre-tax loss$(258,150)$(353,323)$(248,432)
Schedule of reconciliation of the statutory income tax rate to effective tax rate A reconciliation of the statutory U.K. income tax rate to the Company’s effective tax rate is as follows:
Year ended December 31,
202120202019
Loss before tax:$(258,150)$(353,323)$(248,432)
Income tax (benefit) provision12,298 (2,698)10,201 
Statutory rate19.0 %19.0 %19.0 %
Effect of different tax rates3.2 %1.8 %(4.0)%
BEAT(3.8)%(1.9)%(0.9)%
Tax rate modifications17.4 %— %— %
Valuation Allowances(39.0)%(21.1)%(17.6)%
Share-based compensation(2.7)%6.6 %(0.2)%
Other permanent differences2.3 %(1.9)%(0.9)%
Non-deductible transaction costs(0.8)%(1.4)%(1.7)%
Withholding tax(0.4)%(0.2)%(0.5)%
Tax indemnity— %— %3.0 %
Other— %(0.1)%(0.2)%
Effective rate(4.8)%0.8 %(4.1)%
Schedule of deferred income tax assets and liabilities
The tax effects of the significant components of temporary differences giving rise to the Company’s deferred income tax assets and liabilities are as follows:
December 31,
20212020
Accounts receivable$2,637 $1,550 
Accrued expenses24,121 4,078 
Deferred revenue5,171 11,956 
Other assets32,302 14,561 
Unrealized gain/loss679 208 
Fixed assets, net— 6,237 
Debt issuance costs16,980 14,879 
Lease liabilities13,442 — 
Goodwill73,827 123,175 
Operating losses and tax attributes533,339 368,670 
Total deferred tax assets702,498 545,314 
Valuation allowances(546,770)(367,962)
Net deferred tax assets155,728 177,352 
Other identifiable intangible assets, net(407,944)(442,275)
Other liabilities(69,071)(72,210)
Right of Use Assets(9,342)— 
Fixed assets, net(21,493)— 
Total deferred tax liabilities(507,850)(514,485)
Net deferred tax liabilities$(352,122)$(337,133)
In the Consolidated Balance Sheets, deferred tax assets and liabilities are shown net if they are in the same jurisdiction. The components of the net deferred tax liabilities as reported on the Consolidated Balance Sheets are as follows:
December 31,
20212020
Deferred tax asset$27,938 $29,863 
Deferred tax liability(380,060)(366,996)
Net deferred tax liability$(352,122)$(337,133)
Summary of Valuation Allowance
The following table shows the change in the deferred tax valuation as follows:
December 31,
202120202019
Beginning Balance, January 1$367,962 $173,259 $133,856 
Change Charged to Expense/(Income)100,708 52,111 38,956 
Change Charged to CTA(4,740)1,787 447 
Change Charged to Goodwill82,840 140,805 — 
Ending Balance, December 31$546,770 $367,962 $173,259 
Summary of unrecognized tax benefits, excluding interest and penalties:
The following table summarizes the Company’s unrecognized tax benefits, excluding interest and penalties:
December 31,
202120202019
Balance at the beginning of the year$13,721 $1,145 $1,450 
Increases for tax positions taken in prior years— 12,098 — 
Increases for tax positions taken in the current year4,996 518 412 
Increases for acquisitions (recorded against goodwill)70,842 — — 
Increases for return to provisions10,949 — — 
Decreases due to statute expirations(326)(40)— 
Decrease due to payment— — (717)
Balance at the end of the year$100,182 $13,721 $1,145