Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Earnings Before Income Taxes

Earnings before income taxes were as follows (in thousands):໿

	For the Years Ended December 31,
	2018		2017		2016
Domestic	$	337,437	$	268,714	$	227,875
International	120,305		112,343		93,971
	$	457,742	$	381,057	$	321,846

Schedule of Components of Provision (Benefit) for Income Taxes

The provision (benefit) for income taxes comprised the following (in thousands):

	For the Years Ended December 31,
	2018			2017			2016
Current
Federal	$	47,130		$	92,453		$	53,285
State	10,415			9,258			6,608
International	22,015			23,993			19,291
	79,560			125,704			79,184
Deferred
Federal	3,970			(1,201		)	20,305
State	(937		)	(4,102		)	1,196
International	(1,898		)	(2,613		)	(893		)
	1,135			(7,916		)	20,608
	$	80,695		$	117,788		$	99,792

Schedule of Effective Income Tax Rate Reconciliation

The provision for income taxes differs from the amounts computed by applying the statutory federal income tax rate as follows:໿

	For the Years Ended December 31,
	2018		2017		2016
U.S. federal statutory rate	21.0	%	35.0	%	35.0	%
State income tax, net of federal tax benefit	2.6		1.9		1.8
Taxation on international earnings	(0.8	)	(5.5	)	(4.8	)
Foreign derived intangible income	(1.3	)	—		—
Share-based compensation from settlements under ASU 2016-09	(4.7	)	(7.3	)	—
Domestic manufacturing exclusions	—		(1.1	)	(1.0	)
Research and development credit	(0.9	)	(0.9	)	(0.8	)
Impact of the Tax Cuts and Jobs Act	0.5		9.4		—
State income tax carryforwards	(0.2	)	(1.4	)	—
Other, net	1.4		0.8		0.8
Effective tax rate	17.6	%	30.9	%	31.0	%

Schedule of Components of Net Deferred Tax Assets and Liabilities

The components of the net deferred tax assets (liabilities) included in the accompanying consolidated balance sheets are as follows (in thousands):

	December 31, 2018			December 31, 2017
Assets
Accrued expenses	$	21,065		$	13,843
Accounts receivable reserves	2,363			2,624
Deferred revenue	7,637			10,618
Inventory basis differences	2,787			3,039
Property-based differences	1,652			1,324
Share-based compensation	9,267			9,035
Other	2,314			918
Net operating loss carryforwards	3,208			3,350
Tax credit carryforwards	10,226			8,096
Unrealized losses on foreign currency exchange contracts, interest rate swaps and investments	404			2,355
Total assets	60,923			55,202
Valuation allowance	(6,212		)	(6,211		)
Total assets, net of valuation allowance	54,711			48,991
Liabilities
Deferred instrument costs	(27,210		)	(20,399		)
Property-based differences	(32,494		)	(31,859		)
Intangible asset basis differences	(13,454		)	(13,574		)
Other	(432		)	(656		)
Unrealized gains on foreign currency exchange contracts, interest rate swaps and investments	(1,907		)	(158		)
Total liabilities	(75,497		)	(66,646		)
Net deferred tax assets (liabilities)	$	(20,786	)	$	(17,655	)

Schedule of Changes in Unrecognized Tax Benefits

The following table summarizes the changes in unrecognized tax benefits during the years ended December 31, 2018, 2017 and 2016 (in thousands):

	For the Years Ended December 31,
	2018			2017			2016
Total amounts of unrecognized tax benefits, beginning of period	$	21,417		$	18,463		$	7,204
Gross increases in unrecognized tax benefits as a result of tax positions taken during a prior period	2,991			74			75
Gross increases in unrecognized tax benefits as a result of tax positions taken in the current period	461			4,681			12,657
Decreases in unrecognized tax benefits relating to settlements with taxing authorities	—			(713		)	(1,326		)
Decreases in unrecognized tax benefits as a result of a lapse of the applicable statutes of limitations	(622		)	(1,088		)	(147		)
Total amounts of unrecognized tax benefits, end of period	$	24,247		$	21,417		$	18,463