Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Components Of Income Tax Expense Benefit Continuing Operations [Abstract]

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

	Year Ended December 31,
	2017			2016		2015
Current taxes:
Federal	$	(29,396	)	$	7,927	$	43,962
State		(334	)		5,818		9,672
Foreign		(1,734	)		1,255		1,329
		(31,464	)		15,000		54,963
Deferred taxes:
Federal		114,842			39,127		(9,396	)
State		1,728			6,261		3,056
Foreign		1,559			674		608
		118,129			46,062		(5,732	)
Provision for income taxes	$	86,665		$	61,062	$	49,231

Reconciliation Of The Statutory Federal Income Tax With The Company's Effective Tax Rate

Reconciliation of the statutory federal income tax rate with our company’s effective income tax rate is as follows (in thousands):

	Year Ended December 31,
	2017			2016			2015
Statutory rate	$	94,338		$	49,904		$	49,548
State income taxes, net of federal income tax		6,721			7,688			7,908
Investment in subsidiary		—			—			(4,800	)
Change in uncertain tax position		1,544			41			(3,903	)
Non-deductible litigation expense		—			7,700			—
Foreign tax rate difference		(412	)		(1,810	)		(106	)
Excess tax benefit from stock-based compensation		(57,431	)		—			—
Revaluation of deferred tax assets		42,443			—			—
Other, net		(538	)		(2,461	)		584
	$	86,665		$	61,062		$	49,231

Deferred Tax Assets And Liabilities

Tax effect of temporary differences and carryforwards that comprise significant portions of deferred tax assets and liabilities (in thousands):

	December 31,
	2017			2016
Deferred tax assets:
Deferred compensation	$	71,687		$	181,575
Accrued expenses		33,957			35,443
Net operating loss carryforwards		31,986			40,266
Receivable reserves		22,679			22,870
Depreciation		4,012			12,550
Total deferred tax assets		164,321			292,704
Valuation allowance		(4,285	)		(8,768	)
		160,036			283,936
Deferred tax liabilities:
Goodwill and other intangibles		(38,982	)		(49,481	)
Unrealized gain on investments		(11,081	)		(1,459	)
Prepaid expenses		(2,834	)		(4,557	)
Other		(1,987	)		(2,986	)
		(54,884	)		(58,483	)
Net deferred tax asset	$	105,152		$	225,453

Unrecognized Tax Benefits

The following table summarizes the activity related to our company’s unrecognized tax benefits from January 1, 2015 to December 31, 2017 (in thousands):

	Year Ended December 31,
	2017			2016			2015
Beginning balance	$	1,800		$	2,717		$	5,510
Increase related to prior year tax positions		3,036			5			1,206
Decrease related to prior year tax positions		(287	)		(31	)		(33	)
Increase related to current year tax positions		—			—			—
Decrease related to settlements with taxing authorities		(171	)		(42	)		(4,815	)
Decrease related to lapsing of statute of limitations		(1,198	)		—			—
Increase/(decrease) related to business acquisitions		—			(849	)		849
Ending balance	$	3,180		$	1,800		$	2,717