Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The provision (benefit) for income taxes consists of the following for the periods indicated (in thousands):

	Year Ended December 31,
	2022		2021		2020
Current tax provision:
U.S. federal	$	73,974	$	12,419	$	25,118
U.S. state	15,175		9,748		7,955
Non-U.S.	16,394		23,564		17,033
Total current tax provision	105,543		45,731		50,106
Deferred tax benefit:
U.S. federal	(68,194)		(8,699)		(46,101)
U.S. state	(15,589)		(7,429)		(14,842)
Non-U.S.	(2,282)		(5,564)		(11,484)
Total deferred tax (benefit)	(86,065)		(21,692)		(72,427)
Total provision (benefit) for income taxes	$	19,478	$	24,039	$	(22,321)

Schedule of Income before Income Tax, Domestic and Foreign

The components of income (loss) before income taxes attributable to the U.S. and non-U.S. operations are as follows (in thousands):

	Year Ended December 31,
	2022	2021		2020
U.S.	$(49,957)	$	(120,874)	$	(199,087)
Non-U.S.	15,760	44,984		8,879
Loss before income taxes	$(34,197)	$	(75,890)	$	(190,208)

Schedule of Effective Income Tax Rate Reconciliation

	Year Ended December 31,
	2022		2021		2020
Income tax benefit computed at statutory tax rate	$	(7,177)	$	(15,912)	$	(47,194)
State taxes, net of federal benefit	327		750		(5,441)
Foreign earnings taxed at different rates	4,115		2,950		9,858
Stock-based compensation	9,504		1,729		1,023
Return to provision true-up	1,794		114		9,365
Research and development tax credits	(3,574)		(3,067)		(2,259)
Deferred distribution taxes	906		2,209		1,881
Foreign Inclusions	15,691		3,144		5,863
Withholding taxes	4,354		5,729		3,586
IRS audit settlement	—		(4,990)		—
Valuation allowance	(6,214)		30,768		1,938
Other	(248)		615		(941)
Total income tax provision (benefit)	$	19,478	$	24,039	$	(22,321)

Schedule of Deferred Tax Assets and Liabilities

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

	Year Ended December 31,
	2022		2021
Deferred tax assets:
Net operating loss carry forwards	$	17,118	$	21,726
Tax credit carry forwards	28,790		31,910
Reserves and accrued costs not currently deductible	14,465		14,653
Deferred revenue	92,789		76,773
Unrealized gains or losses	4,091		3,591
Disallowed interest expense	64,754		88,204
Stock-based compensation	15,796		9,021
Lease liability	10,446		15,070
R&D capitalization	57,751		—
Depreciable assets	1,262		173
Other	195		486
Gross deferred tax assets	307,457		261,607
Valuation allowance	(124,794)		(128,108)
Net deferred tax assets	182,663		133,499
Deferred tax liabilities:
Deferred distribution tax	(10,423)		(8,969)
Intangible assets	(129,426)		(170,482)
Deferred commissions	(39,784)		(32,537)
Right of use assets	(8,558)		(13,102)
Total deferred tax liabilities	(188,191)		(225,090)
Net deferred tax liabilities	$	(5,528)	$	(91,591)

Schedule of Valuation Allowance

A reconciliation of the beginning and ending amount of valuation allowances is as follows (in thousands):

Valuation allowance on deferred tax assets:	Balance at Beginning of Period		(Charged) Credited to Expenses / Other		Balance at Ending of Period
Year ended December 31, 2020	$	(96,411)	$	12,560	$	(83,851)
Year ended December 31, 2021	$	(83,851)	$	(44,257)	$	(128,108)
Year ended December 31, 2022	$	(128,108)	$	3,314	$	(124,794)

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

	December 31,
	2022		2021		2020
Beginning balance	$	43,044	$	65,843	$	62,730
Additions for tax positions of prior years	7,187		237		1,765
Reductions for tax positions of prior years	(1,569)		(2,087)		(825)
Additions based on tax positions related to the current year	3,813		4,432		4,332
Reductions due to lapse of statute of limitations	(595)		(480)		(442)
Reductions due to settlements	—		(24,901)		(1,717)
Ending balance	$	51,880	$	43,044	$	65,843