INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2015

U.S. and foreign earnings from continuing operations before income taxes are as follows:



	Years Ended December 31,
	2015		2014		2013
	(In thousands)
U.S.	$	79,639	$	174,792	$	331,520
Foreign	63,234		95,137		84,781
Total	$	142,873	$	269,929	$	416,301

Schedule of Components of Income Tax Expense (Benefit)

The components of the provision (benefit) for income taxes attributable to continuing operations are as follows:



	Years Ended December 31,
	2015			2014			2013
	(In thousands)
Current income tax provision (benefit):
Federal	$	67,505		$	(45,842	)	$	115,250
State	7,785			(14,787		)	13,946
Foreign	14,012			19,132			14,402
Current income tax provision (benefit)	89,302			(41,497		)	143,598
Deferred income tax (benefit) provision:
Federal	(50,254		)	74,255			(821		)
State	(3,727		)	3,090			(2,117		)
Foreign	(5,805		)	(476		)	(6,158		)
Deferred income tax (benefit) provision	(59,786		)	76,869			(9,096		)
Income tax provision	$	29,516		$	35,372		$	134,502

Schedule of Income Taxes (Payable) Receivable and Deferred Tax (Liabilities) Assets

Income taxes receivable (payable) and deferred tax assets (liabilities) are included in the following captions in the accompanying consolidated balance sheet at December 31, 2015 and 2014:



	December 31,
	2015			2014
	(In thousands)
Income taxes receivable (payable):
Other current assets	$	26,793		$	4,505
Other non-current assets	1,564			1,478
Accrued expenses and other current liabilities	(33,029		)	(41,157		)
Income taxes payable	(33,692		)	(32,635		)
Net income taxes payable	$	(38,364	)	$	(67,809	)

Deferred tax assets (liabilities):
Other non-current assets	$	1,970		$	1,379
Deferred income taxes	(348,773		)	(391,790		)
Net deferred tax liabilities	$	(346,803	)	$	(390,411	)

Schedule of Deferred Tax Assets and Liabilities

The tax effects of cumulative temporary differences that give rise to significant deferred tax assets and deferred tax liabilities are presented below. The valuation allowance relates to deferred tax assets for which it is more likely than not that the tax benefit will not be realized.



	December 31,
	2015			2014
	(In thousands)
Deferred tax assets:
Accrued expenses	$	36,418		$	34,654
Net operating loss carryforwards	68,048			55,579
Tax credit carryforwards	13,753			13,585
Stock-based compensation	76,285			69,342
Cost method investments	6,251			27,581
Equity method investments	17,105			14,998
Other	16,057			12,322
Total deferred tax assets	233,917			228,061
Less valuation allowance	(90,482		)	(98,350		)
Net deferred tax assets	143,435			129,711
Deferred tax liabilities:
Investment in subsidiaries	(382,254		)	(378,769		)
Intangible and other assets	(88,846		)	(115,470		)
Other	(19,138		)	(25,883		)
Total deferred tax liabilities	(490,238		)	(520,122		)
Net deferred tax liabilities	$	(346,803	)	$	(390,411	)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the income tax provision to the amounts computed by applying the statutory federal income tax rate to earnings from continuing operations before income taxes is shown as follows:



	Years Ended December 31,
	2015			2014			2013
	(In thousands)
Income tax provision at the federal statutory rate of 35%	$	50,006		$	94,475		$	145,705
Change in tax reserves, net	(2,928		)	(86,151		)	1,791
Foreign income taxed at a different statutory tax rate	(6,077		)	(10,456		)	(17,428		)
State income taxes, net of effect of federal tax benefit	2,208			7,240			7,668
Realization of certain deferred tax assets	(22,440		)	—			(6,026		)
Non-taxable contingent consideration fair value adjustments	(4,517		)	(4,439		)	120
Non-taxable foreign currency exchange gains	(4,306		)	—			—
Unbenefited losses	4,264			5,433			3,350
Non-deductible goodwill associated with the sale of Urbanspoon	—			6,982			—
Non-deductible ShoeBuy goodwill impairment	4,920			—			—
Non-deductible impairments for certain cost method investments	2,341			23,310			1,756
Other, net	6,045			(1,022		)	(2,434		)
Income tax provision	$	29,516		$	35,372		$	134,502

Schedule of Income Tax Contingencies

A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest, is as follows:



	December 31,
	2015			2014			2013
	(In thousands)
Balance at January 1	$	30,386		$	275,813		$	379,281
Additions based on tax positions related to the current year	4,227			2,159			2,887
Additions for tax positions of prior years	14,467			1,622			3,189
Reductions for tax positions of prior years	(1,556		)	(5,611		)	(17,116		)
Settlements	—			(5,092		)	(78,954		)
Expiration of applicable statutes of limitations	(6,716		)	(238,505		)	(13,474		)
Balance at December 31	$	40,808		$	30,386		$	275,813