INCOME TAX (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of income tax (benefit) provision on income from operations

Income tax (benefit) provision on income from operations consists of the following:

	Years Ended December 31,
	2020		2019		2018
Current:
Federal	$	(10,538)	$	12,814	$	9,110
State	(1,304)		6,585		4,367
	(11,842)		19,399		13,477
Deferred	(7,936)		(6,088)		(5,069)
	$	(19,778)	$	13,311	$	8,408

Reconciliation of U.S. statutory income tax rate to effective income tax expense rate

Reconciliation of the U.S. statutory income tax rate to our effective income tax expense rate for operations follows:

	Years Ended December 31,
	2020		2019		2018
Federal income tax expense at statutory rate	$	36,759	$	33,566	$	32,733
State income tax, net of federal income tax benefit	6,677		6,999		7,953
Net operating loss carryback	(3,445)		—		—
Excess tax benefits of share-based compensation	(60,190)		(29,819)		(32,487)
Adjustments from the 2017 Tax Cuts and Jobs Act	—		—		(1,750)
Tax credits	(3,867)		(3,446)		(3,715)
Non-deductible business expenses	4,199		6,011		5,655
Other, net	89		—		19
	$	(19,778)	$	13,311	$	8,408

Schedule of deferred tax assets and liabilities

The tax effects of the major items recorded as deferred tax assets and liabilities as of December 31 are:

	2020		2019
Deferred income tax assets:
Operating expenses not currently deductible	$	9,084	$	10,214
Stock option and other employee benefit plans	17,446		19,308
Loss and credit carryforwards	27,199		23,841
Total deferred income tax assets	53,729		53,363
Valuation allowance	(1,490)		(1,923)
Total deferred income tax assets, net of valuation allowance	52,239		51,440
Deferred income tax liabilities:
Intangible assets	(76,766)		(84,019)
Property and equipment	(9,918)		(9,265)
Prepaid expenses	(6,869)		(4,922)
Deferred revenue	807		(1,676)
Total deferred income tax liabilities	(92,746)		(99,882)
Net deferred income tax liabilities	$	(40,507)	$	(48,442)