INCOME TAX (Tables)

12 Months Ended

Dec. 31, 2021

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

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


	Years Ended December 31,
	2021		2020		2019
Federal income tax expense at statutory rate	$	33,386	$	36,759	$	33,566
State income tax, net of federal income tax benefit	5,594		6,677		6,999
Net operating loss carryback	3,391		(3,445)		—
Excess tax benefits of share-based compensation	(47,675)		(60,190)		(29,819)
Tax credits	(4,999)		(3,867)		(3,446)
Non-deductible business expenses	7,542		4,199		6,011
Other, net	284		89		—
	$	(2,477)	$	(19,778)	$	13,311

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


	2021		2020
Deferred income tax assets:
Operating expenses not currently deductible	$	16,639	$	9,084
Stock option and other employee benefit plans	19,596		17,446
Loss and credit carryforwards	18,604		27,199
Deferred revenue	4,717		807
Total deferred income tax assets	59,556		54,536
Valuation allowance	—		(1,490)
Total deferred income tax assets, net of valuation allowance	59,556		53,046

Deferred income tax liabilities:
Intangible assets	(266,827)		(76,766)
Property and equipment	(12,272)		(9,918)
Prepaid expenses	(8,542)		(6,869)
Total deferred income tax liabilities	(287,641)		(93,553)
Net deferred income tax liabilities	$	(228,085)	$	(40,507)


	2021		2020		2019
Balance at beginning of year	$	1,929	$	1,929	$	1,929
Additions for tax positions of prior years	4,508		—		—
Reductions for tax positions of prior years	(10)		—		—
Additions for tax positions of current year	212		—		—
Settlements	—		—		—
Expiration of statutes of limitations	(2,004)		—		—
Balance at end of year	$	4,635	$	1,929	$	1,929