Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Summary of Components of Deferred Tax Assets and Liabilities

The table below summarizes significant components of deferred tax assets and liabilities:


	December 31,
	2022		2021
Deferred tax assets
Allowance for expected credit losses	$	2,923	$	2,048
Accrued vacation and bonus	37,776		40,608

Share-based compensation	14,599		14,374
Notes receivable from employees	11,927		12,911
State net operating loss carryforward	537		1,125
Foreign net operating and capital loss carryforward	11,852		8,357


Foreign tax credit carryforward	4,199		3,536
Deferred compensation	3,049		534
Operating lease assets	64,465		64,482
Employee benefits obligations	519		340
Other, net	763		4,037
Total deferred tax assets	152,609		152,352
Deferred tax liabilities
Revenue recognition	(6,406)		(6,779)
Operating lease liabilities	(51,995)		(52,087)
Property and equipment, net	(12,956)		(14,766)
Equity debt discount	—		(4,214)
Goodwill and intangible assets	(204,634)		(206,105)
Total deferred tax liabilities	(275,991)		(283,951)
Foreign withholding tax	(1,921)		(1,537)
Valuation allowance	(6,459)		(10,315)
Net deferred tax liabilities	$	(131,762)	$	(143,451)

Summary of Components of Income Before Income Tax Provision from Continuing Operations

The table below summarizes the components of income before income tax provision from continuing operations:


	Year Ended December 31,
	2022		2021		2020
Domestic	$	165,553	$	136,008	$	122,800
Foreign	132,196		161,939		139,646
Total	$	297,749	$	297,947	$	262,446

Summary of Components of Income Tax Provision from Continuing Operations

The table below summarizes the components of income tax provision from continuing operations:


	Year Ended December 31,
	2022		2021		2020
Current
Federal	$	24,227	$	11,050	$	22,164
State	12,935		8,328		10,257
Foreign	34,917		37,656		29,390
	72,079		57,034		61,811
Deferred
Federal	(2,717)		10,766		3,936
State	(1,173)		3,458		362
Foreign	(5,954)		(8,277)		(14,345)
	(9,844)		5,947		(10,047)
Income tax provision	$	62,235	$	62,981	$	51,764

Summary of Income Tax Provision from Continuing Operations Resulted in Effective Tax Rates

Our income tax provision from continuing operations resulted in effective tax rates that varied from the federal statutory income tax rate as summarized below:


	Year Ended December 31,
	2022		2021		2020
Income tax expense at federal statutory rate	$	62,526	$	62,569	$	55,114
State income taxes, net of federal benefit	10,486		8,643		10,567
Detriment from foreign tax rates	5,811		4,375		1,175

Other expenses not deductible for tax purposes	3,365		2,819		3,079
Adjustment to reserve for uncertain tax positions	(609)		2,665		(1,231)



Share-based compensation	(9,372)		(6,167)		(6,560)
Release of valuation allowance on foreign tax credits	(3,536)		—		(7,336)
Income tax benefit related to the License Agreement, net	(2,034)		—		(3,899)
Release of valuation allowance on Australian deferred tax asset	—		(5,063)		—
U.S. foreign tax credits	(4,049)		(4,859)		—
Valuation allowance on U.S. foreign tax credit carryforwards	—		3,536		—
Deferred tax benefit of United Kingdom tax rate change	—		(3,167)		—
Other adjustments, net	(353)		(2,370)		855
Income tax provision	$	62,235	$	62,981	$	51,764