INCOME TAX (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

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

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

	Years Ended December 31,
	2023		2022		2021
Current:
Federal	$	86,218	$	84,570	$	7,591
State	19,803		25,975		3,203
	106,021		110,545		10,794
Deferred	(73,704)		(87,192)		(13,271)
	$	32,317	$	23,353	$	(2,477)

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,
	2023		2022		2021
Federal income tax expense at statutory rate	$	41,630	$	39,395	$	33,386
State income tax, net of federal income tax benefit	6,881		9,197		5,594
Net operating loss carryback	—		(261)		3,391
Excess tax benefits of share-based compensation	(9,325)		(7,752)		(47,675)
Tax credits	(20,494)		(31,334)		(4,999)
Non-deductible business expenses	5,191		5,425		7,542
Uncertain tax positions	7,647		8,338		(425)
Other, net	787		345		709
	$	32,317	$	23,353	$	(2,477)

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:

	2023		2022
Deferred income tax assets:
Capitalized research and experimental expenditures	$	130,972	$	76,731
Operating expenses not currently deductible	22,180		17,263
Stock option and other employee benefit plans	21,864		21,373
Loss and credit carryforwards	7,430		8,589
Deferred revenue	1,923		4,405
Other	111		289
Total deferred income tax assets	184,480		128,650
Valuation allowance	—		—
Total deferred income tax assets, net of valuation allowance	184,480		128,650
Deferred income tax liabilities:
Intangible assets	(242,522)		(256,818)
Property and equipment	(8,659)		(11,220)
Prepaid expenses	(11,889)		(9,503)
Total deferred income tax liabilities	(263,070)		(277,541)
Net deferred income tax liabilities	$	(78,590)	$	(148,891)

Schedule of unrecognized tax benefits

The following table provides a reconciliation of the gross unrecognized tax benefits from uncertain tax positions for the years ended December 31:

	2023		2022
Balance at beginning of period	$	14,044	$	4,400
Additions for tax positions of prior period	3,087		5,103
Reductions for tax positions of prior period	(338)		(169)
Additions for tax positions of current period	4,838		5,724
Settlements	—		—
Expiration of statutes of limitations	(762)		(1,014)
Balance at end of period	$	20,869	$	14,044