INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2017

U.S. and foreign earnings (loss) before income taxes and noncontrolling interests are as follows:



	Years Ended December 31,
	2017			2016			2015
	(In thousands)
U.S.	$	(52,606	)	$	(248,433	)	$	79,656
Foreign	119,564			167,348			63,234
Total	$	66,958		$	(81,085	)	$	142,890

Schedule of Components of Income Tax Expense (Benefit)

The components of the (benefit) provision for income taxes are as follows:



	Years Ended December 31,
	2017			2016			2015
	(In thousands)
Current income tax (benefit) provision:
Federal	$	(31,844	)	$	23,343		$	67,505
State	1,964			3,662			7,785
Foreign	24,108			27,242			14,012
Current income tax (benefit) provision	(5,772		)	54,247			89,302
Deferred income tax (benefit) provision:
Federal	(255,477		)	(100,798		)	(50,254		)
State	(28,364		)	(9,518		)	(3,727		)
Foreign	(1,437		)	(8,865		)	(5,805		)
Deferred income tax (benefit) provision	(285,278		)	(119,181		)	(59,786		)
Income tax (benefit) provision	$	(291,050	)	$	(64,934	)	$	29,516

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, 2017 and 2016:



	December 31,
	2017			2016
	(In thousands)
Income taxes receivable (payable):
Other current assets	$	33,239		$	41,352
Other non-current assets	1,949			1,615
Accrued expenses and other current liabilities	(11,798		)	(5,788		)
Income taxes payable	(25,624		)	(33,528		)
Net income taxes (payable) receivable	$	(2,234	)	$	3,651

Deferred tax assets (liabilities):
Other non-current assets	$	66,321		$	2,511
Deferred income taxes	(35,070		)	(228,798		)
Net deferred tax assets (liabilities)	$	31,251		$	(226,287	)

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,
	2017			2016
	(In thousands)
Deferred tax assets:
Accrued expenses	$	22,234		$	40,273
NOL carryforwards	292,812			63,948
Tax credit carryforwards	78,715			11,570
Stock-based compensation	77,976			87,914
Equity method investments	12,066			17,455
Intangible and other assets	—			13,708
Other	30,265			30,044
Total deferred tax assets	514,068			264,912
Less valuation allowance	(132,598		)	(88,170		)
Net deferred tax assets	381,470			176,742
Deferred tax liabilities:
Investment in subsidiaries	(247,167		)	(385,474		)
Intangible and other assets	(87,811		)	—
Other	(15,241		)	(17,555		)
Total deferred tax liabilities	(350,219		)	(403,029		)
Net deferred tax assets (liabilities)	$	31,251		$	(226,287	)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the income tax (benefit) provision to the amounts computed by applying the statutory federal income tax rate to earnings before income taxes is shown as follows:



	Years Ended December 31,
	2017			2016			2015
	(In thousands)
Income tax (benefit) provision at the federal statutory rate of 35%	$	23,435		$	(28,446	)	$	50,006
Transition tax	62,667			—			—
Stock-based compensation	(358,901		)	3,998			1,787
Foreign income taxed at a different statutory tax rate	(14,725		)	(27,115		)	(10,382		)
State income taxes, net of effect of federal tax benefit	86			(3,880		)	2,208
Realization of certain deferred tax assets	(3,133		)	—			(22,440		)
Non-taxable sale and non-deductible goodwill associated with ShoeBuy	—			(13,142		)	4,920
Goodwill impairment of Publishing	—			10,649			—
Research credit	(5,304		)	(2,231		)	(2,354		)
Non-deductible impairments for certain cost method investments	2,669			3,489			2,341
Deferred tax adjustment for enacted changes in tax laws and rates	705			(4,594		)	—
Other, net	1,451			(3,662		)	3,430
Income tax (benefit) provision	$	(291,050	)	$	(64,934	)	$	29,516

Schedule of Income Tax Contingencies

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



	December 31,
	2017			2016			2015
	(In thousands)
Balance at January 1	$	38,372		$	40,808		$	30,386
Additions based on tax positions related to the current year	2,050			2,033			4,227
Additions for tax positions of prior years	1,994			2,676			14,467
Reductions for tax positions of prior years	(3,761		)	(743		)	(1,556		)
Settlements	—			(5,107		)	—
Expiration of applicable statutes of limitations	(1,923		)	(1,295		)	(6,716		)
Balance at December 31	$	36,732		$	38,372		$	40,808